SENATE FLOOR VERSION - SB259 SFLR Page 1
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SENATE FLOOR VERSION
March 1, 2022
SENATE BILL NO. 259 By: Kirt of the Senate
and
Boatman of the House
An Act relating to economic incentives; amendin g 62
O.S. 2021, Section 46A, which relates to enactment of
economic incentives; exp anding requirements for, and
application of, certain provision s after specified
date; modifying definition ; and adding definition.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 62 O.S. 2021, 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:
SENATE FLOOR VERSION - SB259 SFLR Page 2
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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, deduction 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 American 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 expected long -
term result of an incentive, intended for use as a foundation for
data collection, comparison , and evaluation.
COMMITTEE REPORT BY: COMMITTEE ON FINANCE
March 1, 2022 - DO PASS