{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2902.3","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2902.3","heading":"Qualified aircraft manufacturers – Reimbursement of","body":"certain ad valorem taxes paid – Application – Agreement – Aircraft\n\nManufacturer Payment Fund – False or fraudulent application, claim,\n\netc. - Penalties.\n\nA. As used in this section:\n\n1. “Qualified aircraft manufacturer” means a corporation:\n\na. primarily engaged in the manufacture or repair of\n\naircraft components and replacement parts,\n\nb. which is headquartered in this state and the primary\n\nfacilities of which are located in this state,\n\nc. which, as of July 1, 2005, has wages in this state\n\ntotaling at least Eighty Million Dollars\n\n($80,000,000.00) for the preceding twelve-month period,\n\nand\n\nd. which experienced a decline in annualized wages as a\n\nresult of the terrorist attacks on the United States on\n\nSeptember 11, 2001, and as a result of such decline,\n\nhad an application for a tax exemption pursuant to the\n\nprovisions of Section 2902 of Title 68 of the Oklahoma\n\nStatutes denied or rejected by the Oklahoma Tax\n\nCommission or a county assessor for one (1) or more\n\nyears beginning after such terrorist attacks and prior\n\nto July 1, 2005; and\n\n2. “Tax Commission” or “Commission” means the Oklahoma Tax\n\nCommission.\n\nB. A qualified aircraft manufacturer shall be eligible to enter\n\ninto an agreement with the Tax Commission for a period not to exceed\n\nfive (5) years. The agreement shall provide for the following:\n\n1. For each year of the term of the agreement, the qualified\n\naircraft manufacturer shall agree to:\n\na. maintain Oklahoma wages during the period of the\n\nagreement in an amount not less than one hundred\n\npercent (100%) of the manufacturer’s wages for the\n\ntwelve (12) months preceding July 1, 2005,\n\nb. maintain or increase its investment, based on original\n\ncost, in real and personal property in this state in an\n\namount not less than one hundred percent (100%) of the\n\nmanufacturer’s level of investment, based on original\n\ncost, as of July 1, 2005, and\n\nc. meet all other qualifications specified in this section\n\nand provide documentation of such to the Tax\n\nCommission; and\n\n2. The Tax Commission shall agree to make payments to the\n\nqualified aircraft manufacturer in the amount of ad valorem taxes\n\nactually paid by the manufacturer in any year following the\n\nterrorist attacks of September 11, 2001, but which would have been\n\nexempt from ad valorem taxes pursuant to the provisions of Section\n\n2902 of Title 68 of the Oklahoma Statutes if the manufacturer had\n\nnot experienced a decline in annualized wages as a result of such\n\nterrorist attacks. Payments to a manufacturer shall not exceed the\n\namount of such taxes actually paid by the manufacturer prior to the\n\ndate of the payment, nor shall payments to a single manufacturer\n\nexceed a total of Two Million Five Hundred Thousand Dollars\n\n($2,500,000.00) over the five-year period of the agreement or a\n\ntotal of Five Hundred Thousand Dollars ($500,000.00) in any single\n\nfiscal year. If such amount is insufficient to reimburse the\n\nmanufacturer for ad valorem taxes actually paid by the manufacturer\n\nin any year following the terrorist attacks of September 11, 2001,\n\nbut which would have been exempt from ad valorem taxes pursuant to\n\nthe provisions of Section 2902 of Title 68 of the Oklahoma Statutes\n\nif the manufacturer had not experienced a decline in annualized\n\nwages as a result of such terrorist attacks, any amount not\n\nreimbursed shall carry forward and may be paid in a subsequent\n\nfiscal year subject to the limitations of this section; provided, in\n\nno event shall payments be made after the expiration of the\n\nagreement.\n\nC. A qualified aircraft manufacturer shall make an initial\n\napplication to the Tax Commission to enter into an agreement\n\npursuant to the provisions of this section not later than September\n\n1, 2005, and upon approval, shall submit a claim for payment\n\nannually thereafter for the remainder of the five-year period of the\n\nagreement on a date specified by the Tax Commission. Such\nof the\n\nagreement.\n\nC. A qualified aircraft manufacturer shall make an initial\n\napplication to the Tax Commission to enter into an agreement\n\npursuant to the provisions of this section not later than September\n\n1, 2005, and upon approval, shall submit a claim for payment\n\nannually thereafter for the remainder of the five-year period of the\n\nagreement on a date specified by the Tax Commission. Such\n\napplication and claim shall be on a form prescribed by the Tax\n\nCommission and shall contain such information as may be necessary\n\nfor the Tax Commission to determine if the qualifications and other\n\nrequirements of this section have been met. The determination shall\n\nbe made upon application of the manufacturer and annually thereafter\n\nas a condition of receiving a payment pursuant to the provisions of\n\nthis section. Prior to approving a claim for payment, the Tax\n\nCommission shall verify the information contained in the claim and\n\nshall verify that all requirements of this section have been met as\n\na condition of making the payment.\n\nD. If the qualified aircraft manufacturer does not meet the\n\nterms of the agreement and all provisions of this section, payments\n\nshall cease and shall not be resumed, and the agreement shall expire\n\nand be void.\n\nE. A qualified aircraft manufacturer that has qualified\n\npursuant to this section may receive payments only in accordance\n\nwith the provisions under which it initially applied and was\n\napproved.\n\nF. As soon as practicable after verification of the eligibility\n\nof the qualified aircraft manufacturer as required by this section,\n\nthe Tax Commission shall issue a warrant to the manufacturer.\n\nG. There is hereby created within the State Treasury a special\n\nfund for the Tax Commission to be designated the “Aircraft\n\nManufacturer Payment Fund”. The Tax Commission is hereby authorized\n\nand directed to withhold a portion of the taxes levied and collected\n\npursuant to Sections 1354 and 2355 of Title 68 of the Oklahoma\n\nStatutes which would otherwise be apportioned to the General Revenue\n\nFund for deposit into the fund. The amount deposited shall equal\n\nthe sum of an amount required for making payments, as determined\n\npursuant to the provisions of this section. All of the amounts\n\ndeposited in such fund shall be used and expended by the Tax\n\nCommission solely for the purposes and in the amounts authorized by\n\nthis section. The liability of the State of Oklahoma to make the\n\ninvestment payments under this section shall be limited to the\n\nbalance contained in the fund created by this subsection.\n\nH. The Tax Commission may promulgate rules necessary to\n\nimplement its duties and responsibilities under the provisions of\n\nthis section.\n\nI. Any person making an application, claim for payment or any\n\nreport, return, statement or other instrument or providing any other\n\ninformation pursuant to the provisions of this section who willfully\n\nmakes a false or fraudulent application, claim, report, return,\n\nstatement, invoice or other instrument or who willfully provides any\n\nfalse or fraudulent information, or any person who willfully aids or\n\nabets another in making such false or fraudulent application, claim,\n\nreport, return, statement, invoice or other instrument or who\n\nwillfully aids or abets another in providing any false or fraudulent\n\ninformation, upon conviction, shall be guilty of a felony punishable\n\nby the imposition of a fine not less than One Thousand Dollars\n\n($1,000.00) and not more than Fifty Thousand Dollars ($50,000.00) or\n\nimprisonment in the State Penitentiary for not less than two (2)\n\nyears and not more than five (5) years, or by both such fine and\n\nimprisonment. Any person convicted of a violation of this section\n\nshall be liable for the repayment of all investment payments which\n\nwere paid to the manufacturer. Interest shall be due on such\n00.00) or\n\nimprisonment in the State Penitentiary for not less than two (2)\n\nyears and not more than five (5) years, or by both such fine and\n\nimprisonment. Any person convicted of a violation of this section\n\nshall be liable for the repayment of all investment payments which\n\nwere paid to the manufacturer. Interest shall be due on such\n\npayments at the rate of ten percent (10%) per annum.","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":"9eb1241bea39ae3daeeb65c50c391b09a5a7f18bd1ffabd9feb2d51cd9d59754","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2902.2","next":"us-ok/okla.-stat.-tit.-68-68-2902.5"},"notice":"GroundRules: Original legal text. Not legal advice."}