{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-3507","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-3507","heading":"Incentive payments - Deposit - Use - Investment - Audits","body":"- Unused assets.\n\nA. A political subdivision receiving an incentive payment\n\npursuant to the provisions of this act shall deposit such payment in\n\na separate fund and shall not be permitted to use such monies for\n\nany purpose other than payment of expenses associated with a\n\nqualified federal facility.\n\nA political subdivision shall be permitted to invest the monies\n\naccruing to such fund in such manner as is authorized by law for\n\ninvestment of other monies of the political subdivision; provided,\n\nthe interest earned from such investments shall be deposited to the\n\nfund and shall be used solely for payment of expenses associated\n\nwith a qualified federal facility.\n\nB. A political subdivision receiving an incentive payment\n\npursuant to the provisions of this act shall annually cause an\n\nindependent financial audit of such fund to be made and shall submit\n\nsuch audit to the Department of Commerce, the Oklahoma Tax\n\nCommission, and the State Auditor and Inspector. The State Auditor\n\nand Inspector shall review such audit and report his findings to the\n\nGovernor, the President Pro Tempore of the Senate and the Speaker of\n\nthe House of Representatives.\n\nC. At the end of the project term or at the end of the period\n\nof time for which the qualified federal facility is leased or\n\nconveyed to the government of the United States, whichever is later,\n\nany assets of the qualified federal facility owned by the political\n\nsubdivision, including, but not limited to any property or any\n\nmonies remaining in the fund created pursuant to the provisions of\n\nsubsection A of this section, shall be disposed of between the\n\npolitical subdivision and the state according to the proportions of\n\nfunding provided by the state through incentive payments authorized\n\nby this act and funding provided by the political subdivision.","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":"c36b5eb923949918c9a0a57b22b7592113c56a1bc42a79a1f410478fc5bb97cc","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-3506","next":"us-ok/okla.-stat.-tit.-68-68-3508"},"notice":"GroundRules: Original legal text. Not legal advice."}