{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-4206","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-4206","heading":"Quality Investment Committee – Meetings – Recommendations","body":"– Consideration by Governor, Speaker and President Pro Tempore –\n\nInvestments authorized.\n\nA. The Quality Investment Committee shall meet not less than\n\nonce per quarter and consider applications for Quality Investment\n\nContracts from at-risk establishments. The Committee shall review\n\neach application received since its last meeting and consider for\n\neach application economic impacts, historical contributions trends\n\nand tax revenue projections analyses conducted by or on behalf of\n\nthe Oklahoma Department of Commerce; whether the establishment is\n\nlocated in an economically distressed area of the state; whether\n\nloss of the establishment would cause the local community to become\n\nan economically distressed area; the number of jobs of Oklahoma\n\ncitizens which are at risk; and the average salary of the jobs which\n\nare at risk.\n\nB. Based on its review of applications, the Committee shall\n\nmake recommendations to the Governor, the Speaker of the House of\n\nRepresentatives and the President Pro Tempore of the Senate as to\n\nwhich applications for investment contracts should be approved and\n\nthe percentage of investment the state should make as an incentive\n\npayment to the at-risk establishment for those contracts which are\n\napproved. In making such recommendations, the Committee shall not\n\nmake recommendations for Quality Investment Contracts which could\n\nrequire payments in any year in excess of the amount allowed by the\n\nOklahoma Quality Investment Act or the provisions of Section 23 of\n\nArticle X of the Oklahoma Constitution.\n\nC. The Governor, the Speaker of the House of Representatives\n\nand the President Pro Tempore of the Senate shall meet as often as\n\nis necessary to consider recommendations of the Quality Investment\n\nCommittee. The Governor shall schedule and chair such meetings.\n\nQuality Investment Contracts shall only be entered into upon the\n\nunanimous approval by the Governor, the Speaker of the House of\n\nRepresentatives and the President Pro Tempore of the Senate of the\n\nterms of the contract. A decision on recommendations of the Quality\n\nInvestment Committee shall be made within thirty (30) days of\n\nreceipt of such recommendations.\n\nD. For any fiscal year, the incentives shall not exceed ten\n\npercent (10%) of the amount invested by an establishment in capital\n\nassets to be utilized in this state. The contract shall make\n\npayment of any incentives in any fiscal year contingent on the\n\nbalance at the beginning of such fiscal year in the Constitutional\n\nReserve Fund being equal to or greater than Eighty Million Dollars\n\n($80,000,000.00) and on the certification by the State Board of\n\nEqualization for such fiscal year General Revenue Fund being greater\n\nthan that of the preceding fiscal year certification. Investment\n\ncontracts authorized by this act shall provide that if any incentive\n\npayment is payable during a fiscal year in which either the balance\n\nat the beginning of the fiscal year in the Constitutional Reserve\n\nFund is not equal to or greater than Eighty Million Dollars\n\n($80,000,000.00) or when the certification by the State Board of\n\nEqualization for such fiscal year General Revenue Fund is less than\n\nthat of the immediately prior fiscal year certification, then any\n\nincentive payments which would have been payable during such fiscal\n\nyear shall be payable in the first fiscal year when funds are\n\navailable pursuant to the provisions of division 1 of subparagraph\n\n(b) of paragraph 6 of Section 23 of Article X of the Oklahoma\n\nConstitution. In the event that the amount of incentives due in any\n\nyear under investment contracts authorized by this subsection is\n\nless than the amounts available for payment under this subsection in\n\nsuch year, then incentives payments for such year shall be reduced\n\npro rata.","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":"1f813ffd75801cbc56530770bb05809c92bbc2840f3a03e3255de3c1208fdfa9","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-4205","next":"us-ok/okla.-stat.-tit.-68-68-4207"},"notice":"GroundRules: Original legal text. Not legal advice."}