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STATE OF OKLAHOMA
1st Session of the 58th Legislature (2021)
SENATE BILL 259 By: Kirt
AS INTRODUCED
An Act relating to economic incentives; amendin g
Section 1, Chapter 190, O.S.L. 2015 (62 O.S. Supp.
2020, Section 46A), which relates to enactment of
economic incentives; expanding requirements for , and
application of, certain provision s after specified
date; modifying definition ; adding definition; an d
providing an effective date .
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLA HOMA:
SECTION 1. AMENDATORY Section 1, Chapter 190, O.S.L.
2015 (62 O.S. Supp. 2020, Section 46A), is amended to read as
follows:
Section 46A. All economic incentive provisions e nacted after
January 1, 2016, the effective date of this act and all economic
incentive provisions re authorized or extended beyond a provided date
of expiration after the effective date of this act shall include a
measurable goal or goals and for an incentive claimed as a credit , a
limitation on the duration of the provision to ten (10 ) or fewer
years. For the purposes of this act, "incentive" shall include
section:
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1. "Incentive" means any provision available to be used by
designed to benefit a business entity in the form of:
a. a credit, exemption, dedu ction or rebate pertaining to
a state tax liability of any kind ; including a credit
for an employee whose qualification is based on a
specific degree, cer tification or state license, or
due to employment by an entity classified under a
specific North Ameri can Industry Classification System
code,
b. any grant, loan or financing program offered by the
state or a state-beneficiary public trust ;, or
c. any program for ince ntive payments from the state ; and
2. "Measurable goal" means a statement about the expec ted long-
term result of an incentive, intended for use as a foundation for
data collection, comparison an d evaluation.
SECTION 2. This act shall beco me effective November 1, 2021.
58-1-590 QD 1/4/2021 5:37:08 PM