{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-3933","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-3933","heading":"Certification of capital investment authority – Cap on","body":"state tax credits – Investment requirements.\n\nA. The Department shall certify capital investment authority\n\nunder the provisions of this act in amounts that would not authorize\n\nmore than Fifteen Million Dollars ($15,000,000.00) in state tax\n\ncredits to be claimed against state tax liability in any calendar\n\nyear, excluding any credit amounts carried forward as provided under\n\nsubsection A of Section 5 of this act. Within ninety (90) days of\n\nthe applicant receiving notice of certification, the rural fund\n\nshall issue the capital investment to and receive cash in the amount\n\nof the certified amount from a rural investor. At least ten percent\n\n(10%) of the rural investor's capital investment shall be composed\n\nof capital raised by the rural investor directly or indirectly from\n\nsources including directors, members, employees, officers, and\n\naffiliates of the rural investor, other than the amount invested by\n\nthe allocatee claiming the tax credits in exchange for such\n\nallocation of tax credits. The rural fund shall provide the\n\nDepartment with evidence of the receipt of the cash investment\n\nwithin ninety-five (95) days of the applicant receiving notice of\n\ncertification.\n\nB. If the rural fund does not receive the cash investment and\n\nissue the capital investment within such time period following\n\nreceipt of the certificate notice, the certification shall lapse and\n\nthe rural fund shall not issue the capital investment without\n\nreapplying to the Department for certification. Lapsed\n\ncertifications shall revert to the Department and shall be reissued\n\npro rata to applicants whose capital investment allocations were\n\nreduced in accordance with the application process provided under\n\nsubsection D of Section 3 of this act.\n\nC. A rural fund, before making a qualified investment, may\n\nrequest from the Department a written opinion as to whether the\n\nbusiness in which it proposes to invest is an eligible business.\n\nThe Department, no later than fifteen (15) business days after the\n\ndate of receipt of such request, shall notify the rural fund of its\n\ndetermination. If the Department fails to notify the rural fund of\n\nits determination by the twentieth business day, the business in\n\nwhich the rural fund proposes to invest shall be deemed an eligible\n\nbusiness.","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":"d78a6b7cbf2784ad2cc5158fadbdc22da8374441e84824868c25c88857b46d7d","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-3932","next":"us-ok/okla.-stat.-tit.-68-68-3934"},"notice":"GroundRules: Original legal text. Not legal advice."}