{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-4204","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-4204","heading":"Quality Investment Contracts – Application – Requirements","body":"– Qualifications.\n\nA. An establishment which meets the qualifications specified in\n\nthe Oklahoma Quality Investment Act may apply to enter into a\n\nQuality Investment Contract to receive annual incentive payments\n\nover a five-year period from the Oklahoma Tax Commission pursuant to\n\nthe provisions of the Oklahoma Quality Investment Act in an amount\n\nwhich shall not exceed ten percent (10%) of the amount of actual\n\ncapital costs invested pursuant to a Quality Investment Contract\n\ndeveloped and executed pursuant to this act. The Committee shall\n\nreview economic impacts, historical contributions trends and tax\n\nrevenue projections analyses conducted by or on behalf of the\n\nOklahoma Department of Commerce, and shall consider whether or not\n\nthe establishment is located in an economically distressed area of\n\nthe state, the number of jobs which are at risk, and the average\n\nsalary of the jobs which are at risk for the purposes of making\n\nrecommendations for offering a Quality Investment Contract and the\n\npercentage of investment which shall be provided as incentive\n\npayments. Provided, incentive payments shall in no event exceed ten\n\npercent (10%) of the capital costs actually incurred for the\n\nOklahoma site that is the subject of the agreement. Provided, a\n\ncounty, town or municipality in which an establishment eligible to\n\nreceive annual incentive payments pursuant to this section is\n\nlocated may join in the Quality Investment Contract with the state\n\nand the establishment and set out that it intends to annually\n\nappropriate a portion of local sales tax revenue that shall be\n\nincluded in the incentive payments.\n\nProvided further, the Quality Investment Committee may not\n\nrecommend and the state shall not enter into contracts that would\n\nresult in payments from state revenues to all establishments in the\n\nprogram in an amount in excess of Ten Million Dollars\n\n($10,000,000.00) in any fiscal year. The maximum amount of\n\nprojected investment for purposes of a contract made pursuant to\n\nthis act shall not exceed Fifty Million Dollars ($50,000,000.00).\n\nB. In order to receive incentive payments, an establishment\n\nshall apply to and enter into a Quality Investment Contract with the\n\nOklahoma Department of Commerce on behalf of the state and the local\n\ncommunity when the town, city or county resolve to join with the\n\nagreement. The application shall be on a form prescribed by the\n\nCommittee and shall contain such information as may be required by\n\nthe Committee and the Oklahoma Department of Commerce to determine\n\nif the applicant is qualified.\n\nC. In order to qualify to receive such payments, the\n\nestablishment applying shall be required to:\n\n1. Be engaged in manufacturing in activities described under\n\nIndustry Group Nos. 31 through 33 of the NAICS Manual;\n\n2. Incur capital costs for new retooling or modernization\n\nprojected to equal or exceed One Million Dollars ($1,000,000.00)\n\nwithin twenty-four (24) months of the start date; and\n\n3. Apply to and enter into a Quality Investment Contract\n\nspecifying:\n\na. the amount of capital investment the establishment\n\nmust make within twenty-four (24) months of the start\n\ndate in order to remain in the Oklahoma Quality\n\nInvestment Program,\n\nb. the total minimum amount of Oklahoma taxable payroll\n\nit will maintain in this state during the course of\n\nthe agreement,\n\nc. the total amount in incentive payments it may receive,\n\nd. if applicable, the amount of local revenues a county\n\nor municipality intends to apportion to the\n\nestablishment annually, and\n\ne. that it will offer “basic health insurance” as defined\n\nin the Oklahoma Quality Jobs Program Act, within\n\ntwelve (12) months of entering into a Quality\n\nInvestment Contract.","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":"6bad4b443c7e0e4d8543e3089e64159d08267be28385e99de7e52c0faacab1ee","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-4203","next":"us-ok/okla.-stat.-tit.-68-68-4205"},"notice":"GroundRules: Original legal text. Not legal advice."}