Oklahoma § 62-7004 - Periodic evaluations - Exemptions

§ 62-7004. Periodic evaluations - Exemptions

A. For calendar years 2024 through 2027 and every four (4)

years thereafter, the Incentive Evaluation Commission shall ensure

that each incentive is evaluated within the four-year evaluation

period unless the Commission determines that the incentive is exempt

from evaluation. The Commission may exempt from evaluation any

incentive that it concludes has a minimal fiscal impact. The

Commission shall determine a specific threshold amount which shall

be considered as a minimal fiscal impact for the current evaluation

cycle. The Commission may also conduct an expedited evaluation for

any incentive that has been evaluated at least two times from

calendar years 2016 through 2023 and has not had a material change

to the program since its prior evaluation. The expedited evaluation

will update the prior evaluation’s financial and economic impact and

findings and recommendations.

B. For calendar years 2016 through 2023, the Incentive

Evaluation Commission shall develop a four-year schedule for

evaluating incentives. The development of the schedule for

evaluating the incentives shall take into consideration fiscal

impacts to revenues of this state, including but not limited to the

General Revenue Fund, the opportunity to group incentives with

similar goals and objectives for evaluation, and the ability to

obtain sufficient data related to the incentives for evaluation.

Each schedule shall include a list of all incentives in the state,

including any it exempts from evaluation. In determining whether a

program is an incentive, the Incentive Evaluation Commission may

consider legislative intent and may also consider whether the

program is promoted as an incentive by any state agency. For each

incentive listed in the schedule, the Commission shall attempt to

identify the goal or goals of the incentive.

C. Upon approval of the schedule, the Commission shall provide

the schedule to the Governor, President Pro Tempore of the Senate,

and Speaker of the House of Representatives.

Oklahoma Statutes - Title 62. Public Finance

Added by Laws 2015, c. 184, § 4, eff. Nov. 1, 2015.

2023, c. 125, § 2, eff. July 1, 2023.

Amended by Laws