Oklahoma 2024 Regular Session

Oklahoma House Bill HB4019 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	ENGR. S. A. TO ENGR. H. B. NO. 4019 Page 1 1
	3	+	SENATE FLOOR VERSION - HB4019 SFLR Page 1
	4	+	(Bold face denotes Committee Amendme nts) 1
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28		-	ENGROSSED SENATE AMENDMENT
29		-	TO
30		-	ENGROSSED HOUSE
31		-	BILL NO. 4019 By: McBride and Townley of the
32		-	House
33		-
34		-	and
35		-
36		-	Alvord of the Senate
37		-
38		-
39		-
40		-	[ economic development – investment rebate program –
41		-	qualifying criteria – application – Oklahoma
42		-	Department of Commerce – claims – payments –
43		-	conditional pre-qualification – Commerce
44		-	Manufacturing Activity Development Fund -
45		-	codification ]
46		-
47		-
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49		-
50		-	AMENDMENT NO. 1. Page 1, strike the enacting clause
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52		-	Passed the Senate the 25th day of April, 2024.
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55		-
56		-	Presiding Officer of the Senat e
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58		-
59		-	Passed the House of Representatives the ____ day of __________,
60		-	2024.
61		-
62		-
63		-
64		-	Presiding Officer of the House
65		-	of Representatives
66		-
67		-	ENGR. H. B. NO. 4019 Page 1 1
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	29	+	SENATE FLOOR VERSION
	30	+	April 18, 2024
	31	+	AS AMENDED
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92	33		ENGROSSED HOUSE
93	34		BILL NO. 4019 By: McBride and Townley of the
94	35		House
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96	37		and
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98	39		Alvord of the Senate
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104	45		[ economic development – investment rebate program –
105	46		qualifying criteria – application – Oklahoma
106	47		Department of Commerce – claims – payments –
107	48		conditional pre-qualification – Commerce
108	49		Manufacturing Activity Development Fund -
109	50		codification ]
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114	55		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
115	56		SECTION 1. NEW LAW A new section of l aw to be codified
116	57		in the Oklahoma Statutes as Section 3647.1 of Title 68, unless there
117	58		is created a duplication in numbering, reads as follows:
118	59		A. There is hereby created until July 1, 2030, an investment
119	60		rebate program for the cost of qualified capital e xpenditures
120	61		defined by Section 3645.3 of Title 68 of the Oklahoma Statutes, by
121	62		establishments defined by Section 3645.3 of Title 68 of t he Oklahoma
122	63		Statutes, that:
	64	+	1. Are defined or classified in the NAICS Manual under Industry
	65	+	Group No. 325120; and
123	66
124		-	ENGR. H. B. NO. 4019 Page 2 1
	67	+	SENATE FLOOR VERSION - HB4019 SFLR Page 2
	68	+	(Bold face denotes Committee Amendme nts) 1
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149		-	1. Are defined or classified in the NAICS Manual under Industry
150		-	Group No. 325120; and
151	93		2. Have acquired real property located within the boundaries of
152	94		a municipality with a population between twenty thousand (20,000)
153	95		and thirty thousand (30,000), according to the latest Federal
154	96		Decennial Census, where the qualified capital will be located.
155	97		B. To be eligible for consideration for an investment rebate
156	98		payment awarded under the provisions of this act, the establishment
157	99		shall:
158	100		1. Submit an application and documentation to the Oklahoma
159	101		Department of Commerce, as required by the Department, outlining a
160	102		capital expenditure plan in this state associated with qualified
161	103		capital expenditures totaling no less than Eight Hundred Million
162	104		Dollars ($800,000,000.00);
163	105		2. Have made qualified capital expenditures of no less than
164	106		twenty percent (20%) of the capital expenditure plan outlined in the
165	107		application submitted by the primary establishment and approved by
166	108		the Oklahoma Department of Commerce , pursuant to the provisions of
167	109		this act; and
168	110		3. Have filed all Oklahoma tax returns and tax documents
169	111		required by law.
170	112		C. Notwithstanding any other provision of law, no investment
171	113		expenditure shall be utilized for calculation purposes that results
172	114		in the qualification of more than one establishment under the
	115	+	provisions of this act, for investment rebate payments based on the
	116	+	same expenditure.
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174		-	ENGR. H. B. NO. 4019 Page 3 1
	118	+	SENATE FLOOR VERSION - HB4019 SFLR Page 3
	119	+	(Bold face denotes Committee Amendme nts) 1
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199		-	provisions of this act, for investment rebate payment s based on the
200		-	same expenditure.
201	144		D. 1. The Oklahoma Department of Commerce shall approve or
202	145		disapprove claims for rebates and shall issue paymen t for all
203	146		approved claims from funds held in the Commerce Manufacturing
204	147		Activity Development Fund created in Section 2 o f this act.
205	148		2. The Department shall disapprove all applications and claims
206	149		or any portion of applications and claims for rebates that would
207	150		exceed the balance of available funds in the Commerce Manufacturing
208	151		Activity Development Fund.
209	152		3. The total amount of applications approved and investment
210	153		rebate payments awarded under the provisions of this act shall not
211	154		exceed the total amount of m onies designated by law for deposit to
212	155		the Commerce Manufacturing Activity Development Fund.
213	156		E. 1. Subject to the appr oval and ongoing review of the
214	157		eligibility application by the Oklahoma Department of Commerce, the
215	158		investment rebate payment authorized by this act shall be equal to
216	159		six and twenty-five hundredths percent (6.25%) of the cost of the
217	160		qualified capital expend iture in the year of expenditure.
218	161		2. The Department is authorized to conditionally pre -qualify
219	162		and account for anticipated future inves tment rebate payments. The
220	163		Oklahoma Department of Commerce shall not pre -qualify investment
221	164		rebate payments, encumber f unds, pre-encumber funds, or otherwise
222	165		allocate resources that would result in the allocation of investment
	166	+	rebate payments in excess of the balance of available funds in the
	167	+	Commerce Manufacturing Activity Development Fund.
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224		-	ENGR. H. B. NO. 4019 Page 4 1
	169	+	SENATE FLOOR VERSION - HB4019 SFLR Page 4
	170	+	(Bold face denotes Committee Amendme nts) 1
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249		-	rebate payments in excess of the balance of a vailable funds in the
250		-	Commerce Manufacturing Activity De velopment Fund.
251	195		SECTION 2. NEW LAW A new section of law to be codified
252	196		in the Oklahoma Statutes as Section 3647.2 of Title 68, unless there
253	197		is created a duplication in numbering, reads as follows:
254	198		A. There is hereby created in the State Treasury a fund for the
255	199		Oklahoma Department of Commerce to be designated the "Commerce
256	200		Manufacturing Activity Development Fund". The fund shall be a
257	201		continuing fund, not subject to fiscal year limitations, and shall
258	202		consist of all monies designated for deposit to the fund by law.
259	203		All monies accruing to the credit of the fund are hereby
260	204		appropriated and may be budgeted and expended by the Department for
261	205		the purpose of paying reb ates as provided in this act. Expenditures
262	206		from such fund shall be made upon warrants issued by the State
263	207		Treasurer against claims filed as prescribed by law with the
264	208		Director of the Office of Management and Enterprise Services for
265	209		approval and payment.
266	210		B. All unencumbered funds remaining in the Commerce
267	211		Manufacturing Activity Development Fund upon January 1, 2030, shall
268	212		be transferred to the State Treasurer for deposit in the General
269	213		Revenue Fund.
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271		-	ENGR. H. B. NO. 4019 Page 5 1
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296		-	Passed the House of Representatives the 5th day of March, 2024.
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301		-	Presiding Officer of th e House
302		-	of Representatives
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306		-	Passed the Senate the ___ day of __________, 2024.
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311		-	Presiding Officer of the Senate
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	214	+	COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS
	215	+	April 18, 2024 - DO PASS