Oklahoma 2022 Regular Session

Oklahoma Senate Bill SB259 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SENATE FLOOR VERSION - SB259 SFLR Page 1
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29		-	SENATE FLOOR VERSION
30		-	March 1, 2022
	53	+	STATE OF OKLAHOMA
31	54
	55	+	1st Session of the 58th Legislature (2021)
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33		-	SENATE BILL NO. 259 By: Kirt of the Senate
34		-
35		-	and
36		-
37		-	Boatman of the House
	57	+	SENATE BILL 259 By: Kirt
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43		-	An Act relating to economic incentives; amendin g 62
44		-	O.S. 2021, Section 46A, which relates to enactment of
	63	+	AS INTRODUCED
	64	+
	65	+	An Act relating to economic incentives; amendin g
	66	+	Section 1, Chapter 190, O.S.L. 2015 (62 O.S. Supp.
	67	+	2020, Section 46A), which relates to enactment of
45	68		economic incentives; expanding requirements for , and
46	69		application of, certain provision s after specified
47		-	date; modifying definition ; and adding definition.
	70	+	date; modifying definition ; adding definition; an d
	71	+	providing an effective date .
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53	77		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLA HOMA:
54		-	SECTION 1. AMENDATORY 62 O.S. 2021, Section 46A, is
55		-	amended to read as follows:
	78	+	SECTION 1. AMENDATORY Section 1, Chapter 190, O.S.L.
	79	+	2015 (62 O.S. Supp. 2020, Section 46A), is amended to read as
	80	+	follows:
56	81		Section 46A. All economic incentive provisions e nacted after
57	82		January 1, 2016, the effective date of this act and all economic
58	83		incentive provisions re authorized or extended beyond a provided date
59	84		of expiration after the effective date of this act shall include a
60	85		measurable goal or goals and for an incentive claimed as a credit , a
61	86		limitation on the duration of the provision to ten (10 ) or fewer
62	87		years. For the purposes of this act, "incentive" shall include
63	88		section:
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65		-	SENATE FLOOR VERSION - SB259 SFLR Page 2
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91	140		1. "Incentive" means any provision available to be used by
92	141		designed to benefit a business entity in the form of:
93	142		a. a credit, exemption, dedu ction or rebate pertaining to
94	143		a state tax liability of any kind ; including a credit
95	144		for an employee whose qualification is based on a
96		-	specific degree, cer tification, or state license, or
	145	+	specific degree, cer tification or state license, or
97	146		due to employment by an entity classified under a
98	147		specific North Ameri can Industry Classification System
99	148		code,
100	149		b. any grant, loan or financing program offered by the
101	150		state or a state-beneficiary public trust ;, or
102	151		c. any program for ince ntive payments from the state ; and
103	152		2. "Measurable goal" means a statement about the expec ted long-
104	153		term result of an incentive, intended for use as a foundation for
105		-	data collection, comparison , and evaluation.
106		-	COMMITTEE REPORT BY: COMMITTEE ON FINANCE
107		-	March 1, 2022 - DO PASS
	154	+	data collection, comparison an d evaluation.
	155	+	SECTION 2. This act shall beco me effective November 1, 2021.
	156	+
	157	+	58-1-590 QD 1/4/2021 5:37:08 PM