Year 6 - Evaluation Schedule

Estimated Incentive Cost
$13,170,693 (2018)

Program Type
Cash Rebates

Citation
68 O.S. sec. 3911

Industry
Qualifying (by statute) basic industries

Sunset
None Found

Review Year
6

The program offers quarterly payments of up to 10 percent of newly created payroll for a period of 10 years. To receive quarterly payments, companies must meet certain requirements related to new jobs and wages.

Estimated Incentive Cost
$154,324,446 (Tax Year 2018)

Program Type
Tax Deduction

Citation
68 O.S. sec. 2358

Industry
N/A

Sunset
None Found

Review Year
6

The incentive provides a deduction from taxable income for gains from the sale of qualified Oklahoma-based property. Qualified gains include the sale of real and tangible personal property based in Oklahoma and stock or ownership interest in a business entity with a primary headquarters in Oklahoma.

Estimated Incentive Cost
$3,202,179 (2018)

Program Type
Tax Credits (refundable, capped)

Citation
68 O.S. sec. 2357.11

Industry
Coal

Sunset
December 31, 2021

Review Year
6

The program provides tax credits to producers and purchasers of Oklahoma-mined coal. For both credits, the amount is a 75% credit against tax owed, which is partially refundable.

Estimated Incentive Cost
$11,594,808 (2019)

Program Type
Tax Credit

Citation
68 O.S. sec. 2357.22

Industry
Various

Sunset
December 31, 2027

Review Year
6

The incentive is a tax credit for investments in qualified clean-burning fuel and electric vehicle property. Eligible purchases include certain vehicles, commercial fueling property and residential fueling property.

Estimated Incentive Cost
$1,260,582 (FY 2020)

Program Type
Tax Credit

Citation
68 O.S. sec. 500.10-1

Industry
Retail Sales

Sunset
None Found

Review Year
6

Oklahoma retailers that sell gasoline containing up to 15 percent ethanol by volume (E15) are eligible for a motor fuel tax credit of $0.016 per gallon of ethanol blended into gasoline and sold in Oklahoma. To receive the credit, the retailer must provide a price reduction to the purchaser of the ethanol fuel in the same amount.

Estimated Incentive Cost
$18,552,866 (Tax Year 2020)

Program Type
Tax Credit

Citation
36 O.S. sec. 625.1

Industry
Insurance

Sunset
None Found

Review Year
6

The incentive provides insurance companies that establish or expand a home or regional home office in Oklahoma a tax credit against insurance premium tax liability, which varies depending on the company’s employment in Oklahoma. To claim the credit, foreign insurers must have at least 200 employees in the State, while domestic insurers must have at least 400 employees. The value of the credit ranges from 15 to 50 percent of insurance premium tax liability depending on the insurance company’s status as foreign or domestic and its level of Oklahoma employment.

Estimated Incentive Cost
$47.1 million (2018)

Program Type
Cash Rebates

Citation
68 O.S. sec. 3601

Industry
Qualifying (by statute) basic industries

Sunset
None Found

Review Year
6

The program offers qualifying companies quarterly cash rebates equal to up to 5 percent of newly created taxable payroll for up to 10 years. Originally targeted toward manufacturing firms, the program has been expanded to include a wide range of industries.

Estimated Incentive Cost
$445,949 (2018)

Program Type
Cash Rebates

Citation
68 O.S. sec. 3901

Industry
Qualifying (by statute) basic industries

Sunset
None Found

Review Year
6

The program provides qualifying companies with 500 or fewer employees quarterly rebate payments of up to five percent of newly created payroll, for up to seven years. To qualify for payments, participants must meet requirements related to job creation and wages.