Year 4 - Evaluation Schedule

Estimated Incentive Cost
None

Program Type
Tax Exemption

Citation
68 O.S. sec.1357.5.

Industry
Aerospace

Sunset
None Found

Review Year
4

Sales of aircraft and aircraft parts are tax exempt; provided such sales occur at a qualified aircraft maintenance facility. As used in this paragraph, "qualified aircraft maintenance facility" means a facility operated by an air common carrier at which there were employed at least 2,000 full-time-equivalent employees in the preceding year as certified by OESC and which is primarily related to the fabrication, repair, alteration, modification, refurbishing, maintenance, building or rebuilding of commercial aircraft or aircraft parts used in air common carriage.

Estimated Incentive Cost
None

Program Type
Tax refund or rebate

Citation
68 O.S. sec.1404.3-4

Industry
Aerospace

Sunset
None Found

Review Year
4

Defined as any new or expanded business which adds at least 250 new full-time-equivalent employees, as certified by the Employment Security Commission. In order to quality for the exemption, the construction cost of the new or expanded facility must exceed $5,000,000.

Estimated Incentive Cost
$2,344,500

Program Type
Tax exemption

Citation
68 O.S. sec. 1357 [28]

Industry
Aerospace

Sunset
None Found

Review Year
4

Sales tax does not apply to sales of aircraft engine repairs, modification, and replacement parts, sales of aircraft frame repairs and modification, aircraft interior modification, and paint or sales of services employed in the repair, modification and replacement of parts of aircraft engines, aircraft frame and interior repair and modification, and paint.

Estimated Incentive Cost
None

Program Type
Tax exemption

Citation
68 O.S. 54004

Industry
Infotech

Sunset
None Found

Review Year
4

Oklahoma offers a sales tax refund on the purchase of computers, data processing equipment, related peripherals, telegraph or telecommunications services, and equipment. The company must be a new or expanding business, an addition of 10 new full time employees with an average salary of $35,000, 50% of annual gross revenues must result from sales to out-of-state buyers but may include the federal government, and 75% of annual gross income results from computer services, data processing activities, or research and development activities.

Estimated Incentive Cost
None

Program Type
Tax exemption

Citation
69 O.S. 54003

Industry
Infotech

Sunset
None Found

Review Year
4

Sales tax exemption is offered on: sales of machinery and equipment purchased and used by persons and establishments primarily engaged in computer services and data processing.

Estimated Incentive Cost
None

Program Type
Tax Refund or Rebate

Citation
68 O.S. 1359.1

Industry
Construction

Sunset
None Found

Review Year
4

Oklahoma refunds sales taxes paid on construction materials for certain new or expanding manufacturing facilities including: facilities with construction costs exceeding $5 million which create 100 new manufacturing jobs and are maintained for a minimum of 36 months. Construction costs include building and construction costs, and engineering and architectural fees, but not legal fees. Facilities with construction costs exceeding $10 million, and with combined total costs of material, construction, and machinery exceeding $50 million, which add 75 new employees who are retained for 36 months. Facilities with construction costs exceeding $300,000,000 which maintain an employment level of at least 1,750 full time employees. Qualified new or expanding aircraft maintenance and overhaul facilities that create 250 or more jobs, with construction costs totaling at least $5 million.

Estimated Incentive Cost
$12,442,284

Program Type
Other

Citation
62 O.S. sec. 891.1

Industry
Multiple

Sunset
None Found

Review Year
4

The Oklahoma Community Economic Development Pooled Finance incentive targets business expansion projects which include job creation and significant investment in facilities, machinery, and equipment. With a $200 million capacity, this incentive is comprised of two funding options: Company-Purchased Debt option and Public Finance Debt option.

Estimated Incentive Cost
Unknown

Program Type
Tax exemption

Citation
68 O.S. 500.4 and 68 O.S. 1359

Industry
Biofuel

Sunset
None Found

Review Year
4

The portion of ethanol sold and blended with motor fuel is exempt from sales tax.

Estimated Incentive Cost
$3,500,000

Program Type
Equity investment

Citation
74 O.S. sec.5060.21

Industry
Technology Start-Up Companies

Sunset
None Found

Review Year
4

OCAST seeks to provide funding to innovative Oklahoma companies. Required co-investment with the private sector leverages the agency's investment. The Seed Capital fund includes a concept component intended to address the needs of companies requiring smaller seed capital investment for earlier-stage projects.

Estimated Incentive Cost
N/A

Program Type
Other

Citation
62 O.S. sec. 695.23

Industry
Various

Sunset
None Found

Review Year
4

Private Activity Bonds that render interest payments that are federally tax-exempt, in accordance with the Internal Revenue Code, must receive an allocation from the State Bond Advisor's Office. Public Issuers in Oklahoma may issue Private Activity Bonds up to a federally-established volume cap each year. Generally, allocations are on a first-come, first-served basis, with some size limitation.

Estimated Incentive Cost
$640,232

Program Type
Tax Credit

Citation
68 O.S. sec.2357.104

Industry
Rail

Sunset
None Found

Review Year
4

A credit is available that is equal to 50% of an eligible taxpayer's qualified railroad reconstruction or replacement expenditures. The rules provide for the approval of qualified railroad reconstruction or replacement expenditures prior to commencement of a project and provide a certificate of verification upon completion of a project that uses qualified railroad reconstruction or replacement expenditures.

Estimated Incentive Cost
$10,884,894

Program Type
N/A

Citation
62 O.S. 2001

Industry
Rural Development

Sunset
None Found

Review Year
4

Funds are available for cities or towns with a population of 7,000 or less. Any city or town with a population less than 1,750 shall have a higher priority. Rural water districts with less than 525 non-pasture customers, and cities or towns that have a "relatively weaker fiscal capacity" shall have priority. Eligible projects include: sewer line construction or repair and related storm or sanitary sewer projects, water line construction or repair, water treatment, water acquisition, and distribution or recovery and related projects.

Estimated Incentive Cost
None

Program Type
Tax exemption

Citation
68 O.S. sec. 1356) [32 - 37]

Industry
Aerospace

Sunset
None Found

Review Year
4

Sales of any tangible property to a spaceport user as determined by the Oklahoma Space Industry Development Authority are exempt from sales tax. Launch vehicles, satellites, and such related attached or used property may also be purchased free from sales and use tax.

Estimated Incentive Cost
N/A

Program Type
Tax exemption

Citation
68 O.S. sec.1354 and 1357 [18] [26]

Industry
Telecom

Sunset
None Found

Review Year
4

Sales tax exemptions apply to interstate 1-800, WATS, and interstate private-line business telecommunication services, and to cell phones sold to a vendor who transfers the equipment as part of an inducement to a consumer to contract for wireless telecommunications.

Estimated Incentive Cost
None

Program Type
Grant; Loan guarantee

Citation
62 O.S. sec. 840

Industry
Enterprise Zones, Tourism, Military

Sunset
Project must be completed no later than December 31, 2024

Review Year
4

Provides funding for local units of government to match local tax revenue dedicated to support a project located in an enterprise zone, in support of a major tourism destination, or in support of a military growth impact. Projects must be located entirely in an enterprise zone, no more than 10% of the net leasable space may be used for retail, state local government payments cannot be used to supplant local revenue currently being expended within the increment district boundaries, and certification that all projects described within the related project plan will generate either a $1,000,000 in payroll or $5,000,000 in investment.

Estimated Incentive Cost
$683,317

Program Type
Other

Citation
no reference

Industry
Various

Sunset
None Found

Review Year
4

TIP can help a new or expanding company create the trained workforce it needs in order to be productive from the start. TIP is delivered through Oklahoma's CareerTech System. It is low or in some cases, no cost to the company.