Oklahoma § 62-7003 - Incentive Evaluation Commission - Incentive Approval

§ 62-7003. Incentive Evaluation Commission - Incentive Approval

Committee.

A. There is hereby established the Incentive Evaluation

Commission consisting of:

1. A certified public accountant appointed by the Oklahoma

Accountancy Board whose term shall expire on December 31, 2025;

2. The Chair of Select Oklahoma an Economic Development

Partnership, Inc. or his or her designee who is also a member of

Select Oklahoma an Economic Development Partnership, Inc. who shall

serve during his or her term of office as Chair of Select Oklahoma

an Economic Development Partnership, Inc.;

3. An auditor who is employed as an internal auditor by a

company or who is employed by a private auditing firm appointed by

the Governor whose term shall expire on December 31, 2025;

4. An economist from an Oklahoma college or university

appointed by the President Pro Tempore of the Senate whose term

shall expire on December 31, 2024;

5. A lay person who is not an elected official appointed by the

Speaker of the House of Representatives whose term shall expire

December 31, 2024;

6. The Chair of the Oklahoma Tax Commission or his or her

designee who is also a member of the Oklahoma Tax Commission, which

shall be an ex officio and nonvoting position;

7. The Director of the Office of Management and Enterprise

Services or his or her designee who is an employee of the Office of

Oklahoma Statutes - Title 62. Public Finance

Management and Enterprise Services which shall be an ex officio and

nonvoting position; and

8. The Secretary of Commerce or his or her designee who is an

employee of the Oklahoma Department of Commerce which shall be an ex

officio and nonvoting position.

B. Thereafter persons shall be appointed for terms of four (4)

years beginning on January 1. Any vacancy shall be filled by the

appointing authority for the remainder of the unexpired term.

C. No person shall serve on the Commission or be appointed to

the Commission who is employed by a company that receives any

incentive or who holds a substantial interest in ownership in a

company that receives any incentive. As used in this subsection,

“substantial interest” shall mean the ownership, directly or

indirectly, of more than fifty percent (50%) of the equity interest

with voting rights for any lawfully recognized business entity.

D. No person shall be appointed to the Commission who at the

time of his or her appointment is an elected official. Any person

who is appointed to the Commission who subsequently becomes an

elected official during his or her term on the Commission shall be

required to vacate his or her position on the Commission.

E. The Office of Management and Enterprise Services shall

provide staff and administrative support to the Incentive Evaluation

Commission. The Oklahoma Department of Commerce and the Oklahoma

Tax Commission shall assist the Office of Management and Enterprise

Services as needed in providing staff and administrative support to

the Commission.

F. The Incentive Approval Committee is hereby created as a

subcommittee of the Incentive Evaluation Commission and shall

consist of the Director of the Office of Management and Enterprise

Services or his or her designee, the Secretary of Commerce or his or

her designee, and the Chairman of the Tax Commission or his or her

designee. It shall be the duty of the Committee to determine:

1. Upon initial application on a form approved by the

Committee, if an establishment is engaged in a basic industry as

defined in subdivision (b) of division (7) or in subdivisions (a)

through (n) of division (9) of subparagraph a of paragraph 1 of

subsection A of Section 3603 of Title 68 of the Oklahoma Statutes or

as otherwise provided by subsection C of Section 3603 of Title 68 of

the Oklahoma Statutes;

2. If an establishment would have been defined as a “basic

industry” prior to the amendments to Section 3603 of Title 68 of the

Oklahoma Statutes to convert from SIC Codes to NAICS Codes. If the

Committee so determines, the establishment shall be considered as a

“basic industry” for purposes of the Oklahoma Quality Jobs Program

Act; and

3. If employees of an establishment as defined in division (10)

of subparagraph a of paragraph 1 of subsection A of Section 3603 of

Oklahoma Statutes - Title 62. Public Finance

Title 68 of the Oklahoma Statutes meet the requirements to be

considered employed in new direct jobs as specified in paragraph 3

of subsection A of Section 3603 of Title 68 of the Oklahoma

Statutes.

G. For an establishment defined as a “basic industry” pursuant

to division (4) of subparagraph a of paragraph 1 of subsection A of

Section 3603 of Title 68 of the Oklahoma Statutes, the Incentive

Approval Committee shall consist of the members provided by

subsection A of this section and the Executive Director of the

Oklahoma Center for the Advancement of Science and Technology, or a

designee from the Center appointed by the Executive Director.

Added by Laws 2015, c. 184, § 3, eff. Nov. 1, 2015. Amended by Laws

2023, c. 125, § 1, eff. July 1, 2023.