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- Alternative Fuel Vehicle (AFV) Loans
- Biofuels Construction and Permitting Assistance
- Biofuels Tax Exemption
- Brownfields
- Commercial Space Industry Credit
- Cooperative Marketing Loan
- Credit Enhancement Reserve Fund
- Credit for Manufacturers of Advanced Small Wind Turbines
- Electric Motor Vehicles
- Farm Diversification Grant
- Finance Authority Programs
- Gas Usage Tax Credit for Manufacturing
- Idle Reduction Weight Exemption
- Income Tax Credit For Investment In Oklahoma Producer-owned agriculture processing
- Marketing and Utilization Loan
- Oklahoma Intern Partnerships
- Oklahoma Plant Science Research
- Recycling, Reuse And Source Reduction Incentive Act
- Research and Development New Jobs Credit
- Rural and Affordable Housing Linked Deposit Program
- Small Business Administration (SBA) Guarantee Fee Tax Credit
- Small Business Linked Deposit Program
- Specialty Crop Grant
- Swine and Poultry Producers
Alternative Fuel Vehicle (AFV) Loans
Estimated Incentive Cost
N/A
Program Type
Loan/Loan Participation
Industry
Renewable Energy
Sunset
None Found
Review Year
Excluded
Loan funds are available for privately held Oklahoma companies operating a fleet of three or more vehicles who wish to convert their fleet vehicles to alternative fuel or towards the incremental cost of purchasing new vehicles that are dedicated alternative fuel vehicles.
Biofuels Construction and Permitting Assistance
Estimated Incentive Cost
N/A
Program Type
Other
Industry
Renewable Energy
Review Year
Excluded
The Oklahoma DEQ provides technical and regulatory assistance to small businesses that need permits to construct and operate biodiesel and ethanol production.
Biofuels Tax Exemption
Estimated Incentive Cost
Unknown
Program Type
Tax exemption
Citation
68 O.S. sec. 2357.22
Industry
Renewable Energy
Sunset
None Found
Review Year
Excluded
An individual who produces biofuels or biodiesel from feedstock grown on property and used in a vehicle owned by the same individual is exempt from the state motor fuel excise tax.
Brownfields
Estimated Incentive Cost
$400,000
Program Type
Loans/Subgrants
Industry
Manufacturing
Review Year
Excluded
To assist in the remediation of property that was polluted/contaminated and return it to public use.
Commercial Space Industry Credit
Estimated Incentive Cost
$0
Program Type
Tax credit
Citation
68 O.S. sec.2357.13
Industry
Aerospace
Sunset
Repealed effective Jan 1 2014
Review Year
Excluded
An income tax credit is allowed for investments in qualified commercial space industry projects. The credit is 5% of the eligible capital costs. Any credit allowed but not used may be carried over for a period of 4 years. This credit has been repealed effective January 1 2014.
Cooperative Marketing Loan
Estimated Incentive Cost
N/A
Program Type
Loan/Loan Participation
Citation
2 O.S. 5-3.2
Industry
Agriculture
Sunset
None Found
Review Year
Excluded
Monies from this loan may be used by a group of individuals or an individual on behalf of a group to organize a cooperative for the purpose of marketing a product or to formulate or implement a marketing plan if the cooperative is already in place. The principals in the organization should be individuals rather than a previously existing corporation and those individuals must have some type of cooperative agreement between themselves that will ensure proper accountability for the proposed plan. Individuals are encouraged to seek marketing partners within the state of Oklahoma.
Credit Enhancement Reserve Fund
Estimated Incentive Cost
N/A
Program Type
Loan guarantee
Citation
62 O.S. 695.9
Industry
Public
Sunset
None Found
Review Year
Excluded
The Oklahoma Development Finance Authority may use the Credit Enhancement Reserve Fund in order to obtain favorable financing terms for the issuance of obligations authorized by Section 3654 of this title. The commitment from the Credit Enhancement Reserve Fund for any such obligations shall not exceed Ten Million Dollars ($10,000,000.00).
Credit for Manufacturers of Advanced Small Wind Turbines
Estimated Incentive Cost
$178,690
Program Type
Tax credit
Citation
68 O.S. sec.2357.32B
Industry
Renewable Energy
Sunset
7/1/12
Review Year
Excluded
A transferable income tax credit is allowed for Oklahoma manufacturers of advanced small wind turbine products, including rotor blades and alternators. The credit is based on the square footage of roto-swept area of advanced small wind turbines manufactured in this state. This credit is for tax years ending on or before December 31, 2012; however, any unused credit may be carried over for a period of 10 years.
Electric Motor Vehicles
Estimated Incentive Cost
$102,451
Program Type
Tax credit
Citation
68 O.S. sec.2357.22
Industry
Renewable Energy
Sunset
12/31/19
Review Year
Excluded
A one-time income tax credit is allowed for investments in qualified electric motor vehicle property. The credit is 50% of the cost of the qualified motor vehicle property. In cases where no credit is previously claimed and a motor vehicle is purchased with "factory installed" electrical equipment, and the taxpayer elects not to determine the exact investment cost, the credit is limited to 10% of the motor vehicle purchase price up to $1,500. This credit is for investments in qualified electric motor vehicle property placed in service before July 1, 2010; however, any credit allowed but not used may be carried over for a period of 5 years.
Farm Diversification Grant
Estimated Incentive Cost
N/A
Program Type
Grant
Citation
2 O.S. 5-3.2
Industry
Agriculture
Sunset
None Found
Review Year
Excluded
Grants are available to anyone who is currently involved in farming, ranching or agritourism and would like to diversify their family farming operation or agritourism venture. Projects must be for non-traditional crops or livestock, on-farm processing of agricultural commodities or agritourism ventures.
Finance Authority Programs
Estimated Incentive Cost
N/A
Program Type
Other
Citation
74 O.S. subsec. 851 and 5062.11
Industry
Infrastructure
Sunset
None Found
Review Year
Excluded
Income derived from bonds issued by the Oklahoma Development Finance Authority is exempt from income tax.
Gas Usage Tax Credit for Manufacturing
Estimated Incentive Cost
$30,000
Program Type
Tax credit
Industry
Manufacturing
Review Year
Excluded
Repealed
Idle Reduction Weight Exemption
Estimated Incentive Cost
N/A
Program Type
Preferential rate
Citation
47 O.S. sec. 14-109
Industry
Commercial/Industrial Vehicles
Sunset
None Found
Review Year
Excluded
Any vehicle equipped with idle reduction technology may exceed the state's gross vehicle weight limits by up to 400 pounds to compensate for the additional weight of the added idle reduction technology. The additional weight may not exceed the actual certified weight of the idle reduction unit.
Income Tax Credit For Investment In Oklahoma Producer-owned agriculture processing
Estimated Incentive Cost
$70,950
Program Type
Tax credit
Citation
68 O.S. sec. 2357.25
Industry
Agriculture
Sunset
1/1/10
Review Year
Excluded
An income tax credit is allowed for Oklahoma agricultural producers who invents in Oklahoma producer-owned agricultural processing cooperatives, ventures or marketing associations. This credit is for tax years ending on or before December 31, 2009; however, any unused credit may be carried over for a period of 6 years.
Marketing and Utilization Loan
Estimated Incentive Cost
N/A
Program Type
Loan/Loan Participation
Citation
2 O.S.sec.5-3.1
Industry
Various
Sunset
None Found
Review Year
Excluded
A marketing loan is to be used for product development and/or implementation of a sound marketing plan for Oklahoma agricultural products and by-products. The products should be new to the particular area targeted for the marketing promotion or should be an expansion of a use or uses of existing products.
Oklahoma Intern Partnerships
Estimated Incentive Cost
$420,000
Program Type
Grant/Reimbursable
Citation
74 O.S., Section 5060.19 AND 74 O.S., Section 5060.28
Industry
N/A
Review Year
Excluded
The purpose of this project funding shall be to improve the State's R&D base by encouraging greater numbers of undergraduate students to prepare for careers in and related to scientific and technical fields through the support of undergraduate student and undergraduate teaching faculty internships in R&D facilities.
Oklahoma Plant Science Research
Estimated Incentive Cost
$260,000
Program Type
Grant/Reimbursable
Citation
74 O.S. 5060.53 and O.S. 5060.54
Industry
N/A
Sunset
None Found
Review Year
Excluded
Assist in the accelerated development of technology in the State by supporting applied plant science research activities in existing and emerging technical areas in which the results have: (1) a high probability of leading to commercially successful products, processes or services within a reasonable period of time; and, (2) a significant potential for stimulating economic growth within the State of Oklahoma
Recycling, Reuse And Source Reduction Incentive Act
Estimated Incentive Cost
None
Program Type
Tax credit
Citation
27A O.S. sec.2-11-303
Industry
Recycling
Sunset
Repealed effective January 1, 2014
Review Year
Excluded
Any person making a capital investment in buildings, fixtures and/or equipment (collectively known as the "facility") and their installation for the purpose of recycling, reuse, or source reduction of hazardous waste and the storage of such waste immediately prior to recycling or reuse may be entitled to an income tax credit of twenty percent of the amount actually invested in the facility and its installation in accordance with these rules, not to exceed a maximum of $50,000. (Additionally, tax credits received under the RRSRIA cannot exceed a total of $50,000 during a period of any three (3) consecutive tax years.) Upon evaluation by the Department of an application and a determination that the intent of the Recycling, Reuse, and Source Reduction Incentive Act has been met, the Department will issue a certificate to the Oklahoma Tax Commission specifying the capital investment expense eligible for the tax credit and any limitations.
Research and Development New Jobs Credit
Estimated Incentive Cost
$9,074
Program Type
Tax credit
Citation
68 O.S. sec.54006
Industry
Various
Sunset
Repealed January 1, 2014
Review Year
Excluded
Repealed
Rural and Affordable Housing Linked Deposit Program
Estimated Incentive Cost
N/A
Program Type
Loan/Loan Participation
Citation
62 O.S. 2003 Supp., subsec. 91.1 et seq
Industry
Residential
Sunset
None Found
Review Year
Excluded
The Rural and Affordable Housing Linked Deposit Program provides low-interest loans of up to $2 million each to qualified housing developers to construct single-family and multi-family housing in rural Oklahoma and in qualifying areas of urban centers.
Small Business Administration (SBA) Guarantee Fee Tax Credit
Estimated Incentive Cost
N/A
Program Type
Tax credit
Citation
sec.68-2357.30. Repealed by Laws 2013, c. 363, sec. 9, eff. Jan. 1, 2014. 692
Industry
Small Business
Sunset
None Found
Review Year
Excluded
A Small Business Guaranty Fee Credit that was established by a small business in a prior year but not used due to the limitations may be carried over. The unused credit may be carried over for a period not to exceed five years. The credit shall only be claimed against the tax liability resulting from income generated by the small business.
Small Business Linked Deposit Program
Estimated Incentive Cost
N/A
Program Type
Preferential rate
Citation
62 O.S. sec. 88.1A
Industry
Small Business
Sunset
None Found
Review Year
Excluded
Provides low-interest certificates of deposit to financial institutions to provide lending capital to eligible small businesses and certified industrial parks which will directly create new jobs or save existing jobs.
Specialty Crop Grant
Estimated Incentive Cost
N/A
Program Type
Grant
Citation
7 U.S.C. 1621
Industry
Agriculture
Sunset
None Found
Review Year
Excluded
To be eligible for this grant, projects must solely enhance the competitiveness of specialty crops in either domestic or foreign markets and must provide a benefit to more than just the applicant. Specialty crops are defined as fruits, vegetables, tree nuts, dried fruits, horticulture, and nursery crops (including floriculture). Projects will be evaluated on how well they enhance the competitiveness of Oklahoma's specialty crops, soundness and quality of the project plan, measureable outcomes and return on investment.
Swine and Poultry Producers
Estimated Incentive Cost
N/A
Program Type
Tax Deduction
Citation
68 O.S. sec.2358
Industry
Agriculture
Sunset
None Found
Review Year
Excluded
Individuals who are swine or poultry producers may deduct depreciation on an accelerated basis for new construction or expansion costs. The same depreciation method elected for Federal purposes will be used, except the assets will be deemed to have a 7-year life.