{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2357.74e","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2357.74E","heading":"Effect of favorable determination letters issued","body":"prior to March 15, 2006 - Credit requirements.\n\nA. Any person or entity that has obtained a favorable\n\ndetermination letter from the Oklahoma Tax Commission prior to March\n\n15, 2006, regarding the ability to claim or otherwise utilize any of\n\nthe tax credits authorized pursuant to the provisions of Section\n\n2357.73 or 2357.74 of Title 68 of the Oklahoma Statutes shall not be\n\nsubject to the amendments to the Rural Capital Formation Incentive\n\nAct made by this legislative measure to qualify for the tax credits\n\nauthorized pursuant to the provisions of Section 2357.73 or 2357.74\n\nof this title except as provided in this section. Notwithstanding\n\nany determination letter issued with respect to such investment, no\n\ncredit shall be allowed unless:\n\n1. Such qualified investment is made prior to November 1, 2006,\n\nto satisfy a legitimate business purpose of the entity receiving\n\nsuch investment which is consistent with its organizational\n\ninstrument, bylaws or other agreement responsible for the governance\n\nof the business venture;\n\n2. The investor’s funds were at risk; and\n\n3. The investment was not made chiefly for the purpose of\n\nreducing tax liability.\n\nB. Any investment in a qualified rural small business capital\n\ncompany or an Oklahoma rural small business venture that occurs on\n\nor after November 1, 2006, shall be subject to all of the provisions\n\nof the Rural Venture Capital Formation Incentive Act as amended by\n\nthe provisions of this legislative measure.","path":["OK Code","Title 68"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os68.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"a16bf72871ab4047f926e60b752a38f478e49d2a67630a64e472440db8291fe3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2357.74d","next":"us-ok/okla.-stat.-tit.-68-68-2357.75"},"notice":"GroundRules: Original legal text. Not legal advice."}