{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-3660","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-3660","heading":"Establishments ceasing to qualify for incentive payment -","body":"Liability for payment of principal, interest or other costs.\n\nA. An establishment making the second irrevocable election\n\npursuant to the provisions of Section 3658 of this title and which\n\nceases to qualify for an incentive payment pursuant to the\n\nprovisions of the Oklahoma Quality Jobs Program Act, other than a\n\npayment in the amount of One Dollar ($1.00) as provided in paragraph\n\n1 of subsection D of Section 3658 of this title, and the withholding\n\ntax collections of which are not sufficient to make required\n\npayments of principal or interest because of a reduction in gross\n\npayroll at a facility constructed with or equipped with personal\n\nproperty acquired through the use of proceeds from the issuance of\n\nobligations by the Oklahoma Development Finance Authority pursuant\n\nto the provisions of this act, shall be liable to the State of\n\nOklahoma and the Oklahoma Development Finance Authority for the\n\namount of any required principal or interest payment associated with\n\nobligations issued as a result of a second irrevocable election the\n\nproceeds of which have been paid to the establishment or are\n\navailable for use by the establishment that remains after using the\n\nincentive payment plus the withholding taxes of the establishment.\n\nB. An establishment incurring an obligation for the payment of\n\nany principal, interest or other costs pursuant to subsection A of\n\nthis section shall be liable only for amounts accrued during such\n\nperiod of time. The establishment shall not have any direct\n\nliability for subsequent periods of time during which the sum of the\n\nincentive payment and the withholding tax collected from the\n\nestablishment is sufficient to make required payments in\n\nsatisfaction of the obligations issued pursuant to subsection A of\n\nSection 3654 of this title.","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":"48b1f9a24c1706f4840359e55a437119e88a5617900046a4de0a45c56bcebcfc","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-3659","next":"us-ok/okla.-stat.-tit.-68-68-380"},"notice":"GroundRules: Original legal text. Not legal advice."}