Oklahoma § 62-844

§ 62-844.

amount.

State local enterprise matching payments - Eligibility and

Oklahoma Statutes - Title 62. Public Finance

A. If an enterprise is located within an incentive district

pursuant to the provisions of Section 856 of this title, and the

enterprise either constructs or expands a facility that is located

within an enterprise zone designated pursuant to the provisions of

Section 690.2 of this title, the enterprise shall be eligible for a

state local enterprise matching payment equal to the amount of sales

tax exemption afforded to the enterprise pursuant to Section 860 of

this title.

B. The state local enterprise matching payment shall be made

for the twelve-month period preceding March 1 of each calendar year.

The state local government matching payment shall be made for the

six-month periods preceding March 1 and September 1 of each calendar

year.

C. The state local enterprise matching payment shall be made in

an amount equal to the amount of sales tax for which the enterprise

has received payment during the period prescribed by subsection B of

this section pursuant to Section 860 of this title.

D. Beginning July 1, 2005, the state local government matching

payment shall be made in an amount equal to the lesser of the amount

of local sales taxes which have been apportioned under the

applicable project plan during the period prescribed by subsection B

of this section pursuant to Section 861 of this title or the net

benefit rate multiplied by the actual gross sales derived from the

project, pursuant to the limits provided in Section 842 of this

title.

Added by Laws 2000, c. 339, § 13, eff. July 1, 2000. Amended by

Laws 2004, c. 448, § 4, emerg. eff. June 4, 2004.