{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-3645.4","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-3645.4","heading":"Investment rebate program","body":"A. 1. There is hereby created until July 1, 2032, an\n\ninvestment rebate program for the cost of qualified capital\n\nexpenditures by establishments which create not less than a\n\nthreshold number of new direct jobs as provided in this section.\n\n2. a. The threshold number of new direct jobs required for\n\nestablishments to qualify and remain qualified for\n\ninvestment rebate payments created in paragraph 1 of\n\nthis subsection shall be as follows:\n\n(1) five hundred (500) new direct jobs in year one of\n\nthe rebate payment period,\n\n(2) one thousand (1,000) cumulative new direct jobs\n\nin year two of the rebate payment period,\n\n(3) two thousand five hundred (2,500) cumulative new\n\ndirect jobs in year three of the rebate payment\n\nperiod,\n\n(4) three thousand five hundred (3,500) cumulative\n\nnew direct jobs in year four of the rebate\n\npayment period, and\n\n(5) three thousand five hundred (3,500) cumulative\n\nnew direct jobs in year five of the rebate\n\npayment period.\n\nb. For establishments qualifying for investment rebate\n\npayments pursuant to division (2) of subparagraph a of\n\nparagraph 1 of subsection E of this section, the\n\nthreshold numbers provided in this paragraph shall be\n\nreduced proportionally to reflect the lesser capital\n\nexpenditure of such establishment. Such reduction\n\nshall be achieved by multiplying the thresholds in\n\nparagraph 2 of this subsection by a fractional\n\nequivalent equal to the following: the capital\n\nexpenditure plan amount of the establishment\n\nqualifying pursuant to division (2) of subparagraph a\n\nof paragraph 1 of subsection E of this section,\n\ndivided by the capital expenditure plan amount of the\n\nestablishment qualifying pursuant to division (1) of\n\nsubparagraph a of paragraph 1 of subsection E of this\n\nsection.\n\n3. New direct jobs in this state of a subsidiary of a primary\n\nestablishment, if such subsidiary is defined or classified in the\n\nNAICS Manual under Industry Group No. 5132, 5222, or 5413, shall be\n\naggregated with the number of new direct jobs in the state of the\n\nprimary establishment for the purpose of determining if the\n\nthresholds provided in paragraph 2 of this subsection are met.\n\nB. The investment rebate program shall be administered by the\n\nOklahoma Department of Commerce and the Oklahoma Tax Commission.\n\nC. By October 1 of each year, the Oklahoma Department of\n\nCommerce shall submit electronically an annual report to the Speaker\n\nof the House of Representatives, the President Pro Tempore of the\n\nSenate, the Chair of the Appropriations and Budget Committee of the\n\nHouse of Representatives, the Chair of the Appropriations Committee\n\nof the Senate, and the Executive Director of the Legislative Office\n\nof Fiscal Transparency detailing the program and investment rebate\n\npayments.\n\nD. The Oklahoma Department of Commerce and the Oklahoma Tax\n\nCommission may promulgate rules to implement the provisions of the\n\nLarge-scale Economic Activity and Development Act of 2022 (LEAD\n\nAct).\n\nE. To be eligible for consideration for an investment rebate\n\npayment awarded under the provisions of the LEAD Act, a primary\n\nestablishment shall:\n\n1. a. (1) Submit an application and documentation to the\n\nOklahoma Department of Commerce, as required by\n\nthe Department, outlining a capital expenditure\n\nplan in this state associated with qualified\n\ncapital expenditures totaling no less than Three\n\nBillion Six Hundred Six Million Dollars\n\n($3,606,000,000.00), or\nment awarded under the provisions of the LEAD Act, a primary\n\nestablishment shall:\n\n1. a. (1) Submit an application and documentation to the\n\nOklahoma Department of Commerce, as required by\n\nthe Department, outlining a capital expenditure\n\nplan in this state associated with qualified\n\ncapital expenditures totaling no less than Three\n\nBillion Six Hundred Six Million Dollars\n\n($3,606,000,000.00), or\n\n(2) Submit an application and documentation to the\n\nOklahoma Department of Commerce, as required by\n\nthe Department, outlining a capital expenditure\n\nplan in this state associated with qualified\n\ncapital expenditures totaling no less than Five\n\nHundred Million Dollars ($500,000,000.00),\n\nprovided a separate establishment has been\n\napproved by the Oklahoma Department of Commerce\n\nto participate in the investment rebate program\n\npursuant to division (1) of this subparagraph,\n\nand such establishment participating pursuant to\n\ndivision (1) of this subparagraph remains in\n\ncompliance with such approved application, and\n\nb. Have made qualified capital expenditures of no less\n\nthan twenty percent (20%) of the capital expenditure\n\nplan outlined in the application submitted by the\n\nprimary establishment and approved by the Oklahoma\n\nDepartment of Commerce, pursuant to the provisions of\n\nthe LEAD Act.\n\nNew investment in this state of a subsidiary of a primary\n\nestablishment, if such subsidiary is defined or classified in the\n\nNAICS Manual under Industry Group No. 5132, 5222, or 5413, shall be\n\naggregated with the investment in this state of the primary\n\nestablishment for the purpose of determining if the thresholds\n\nprovided in this paragraph are met;\n\n2. Be qualified to receive payments pursuant to the provisions\n\nof the Oklahoma Quality Jobs Program Act created pursuant to Section\n\n3601 of Title 68 of the Oklahoma Statutes; and\n\n3. Have filed all Oklahoma tax returns and tax documents\n\nrequired by law.\n\nF. 1. Notwithstanding any other provision of law, if a primary\n\nestablishment receives an investment rebate payment pursuant to the\n\nprovisions of the LEAD Act, neither the qualified establishment nor\n\nits subsidiaries shall be eligible to receive the credits provided\n\nfor in Section 2357.4 of Title 68 of the Oklahoma Statutes, in\n\nconnection with the project or development for which the investment\n\nrebate payment was based; provided, however, the limitation provided\n\nin this paragraph, on claiming credits, shall not apply to the\n\namount of qualifying capital expenditure in excess of Four Billion\n\nFive Hundred Million Dollars ($4,500,000,000.00) made by an\n\nestablishment on a project or development in this state.\n\n2. Notwithstanding any other provision of law, no investment\n\nexpenditure shall be utilized for calculation purposes in a way that\n\nresults in the qualification of more than one establishment under\n\nthe provisions of the LEAD Act, for investment rebate payments based\n\non the same expenditure.\n\n3. Notwithstanding any other provision of law, no investment\n\nrebate payment amount pre-qualified or pre-encumbered by the\n\nOklahoma Department of Commerce for an establishment qualifying for\n\npayment under the provisions of division (1) of subparagraph a of\n\nparagraph 1 of subsection E of this section, shall be reallocated to\n\nan establishment that at such time is participating under an\n\napproved application pursuant to division (2) of subparagraph a of\n\nparagraph 1 of subsection E of this section.\n\nG. 1. Except as limited by paragraph 2 of this subsection, the\n\nOklahoma Department of Commerce shall approve or disapprove claims\n\nfor rebates and shall notify the Tax Commission subject to the\n\nlimitations set forth in Section 3645.5 of this title. Upon\n\nnotification of approval from the Department, the Commission shall\n\nissue payment for all approved claims from funds held in the Large-\nion, the\n\nOklahoma Department of Commerce shall approve or disapprove claims\n\nfor rebates and shall notify the Tax Commission subject to the\n\nlimitations set forth in Section 3645.5 of this title. Upon\n\nnotification of approval from the Department, the Commission shall\n\nissue payment for all approved claims from funds held in the Large-\n\nscale Economic Activity and Development Fund created pursuant to\n\nSection 3645.6 of this title and subject to the limitations set\n\nforth in Section 3645.5 of this title.\n\n2. The Department shall disapprove all applications and claims,\n\nas well as portions of applications and claims, for rebates that\n\nwould exceed the balance of available funds in the Large-scale\n\nEconomic Activity and Development Fund.\n\nH. The total amount of applications approved and investment\n\nrebate payments awarded under the provisions of the LEAD Act shall\n\nnot exceed the total amount of monies designated by law for deposit\n\nto the Large-scale Economic Activity and Development Fund.","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":"bb40778625e04c532cc2a747fac8465e494625370b6a0ffc982695a0e16d5955","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-3645.3","next":"us-ok/okla.-stat.-tit.-68-68-3645.5"},"notice":"GroundRules: Original legal text. Not legal advice."}