Oklahoma Senate Bill SB1658

Oklahoma 2022 Regular Session

• Introduced: 2/7/22
• Refer: 2/8/22

Caption

Quality Jobs; modifying wage thresholds. Effective date.

Impact

This bill is poised to influence the state's economic landscape significantly by allowing more flexibility in the wage requirements for businesses seeking to qualify for the program. The changes could encourage federal contractors, particularly in economically disadvantaged areas, to expand their operations within Oklahoma by making it easier for them to meet the revised criteria. The potential increase in job creation and maintainenance of higher-paying jobs is seen as a step toward enhancing the overall economic development of the state.

Summary

Senate Bill 1658, introduced by Senator Kirt, amends certain provisions of the Oklahoma Quality Jobs Program Act. The bill seeks to modify the wage requirements for establishments entering the program in the event of a change-in-control. It establishes new standards for the wage threshold required for applicants, specifically adjusting the parameters that determine the minimum average annual wages that new jobs need to meet.

Contention

Notably, while supporters argue that these amendments will facilitate an increase in job opportunities and economic growth, there may be concerns regarding the adequacy of wage standards and the risk that businesses could exploit these adjustments to pay lower wages. Some legislators might challenge the sustainability of these incentives, questioning whether they will genuinely benefit the state's economy or disproportionately advantage larger corporations at the expense of local businesses.