Oklahoma § 68-3660 - Establishments ceasing to qualify for incentive payment Liability for payment of principal, interest or other costs
Full text of Oklahoma Oklahoma Statutes § 68-3660 — Establishments ceasing to qualify for incentive payment Liability for payment of principal, interest or other costs, with citation guidance and answers to common questions.
§ 68-3660. Establishments ceasing to qualify for incentive payment Liability for payment of principal, interest or other costs
A. An establishment making the second irrevocable election
pursuant to the provisions of Section 3658 of this title and which
ceases to qualify for an incentive payment pursuant to the
provisions of the Oklahoma Quality Jobs Program Act, other than a
payment in the amount of One Dollar ($1.00) as provided in paragraph
1 of subsection D of Section 3658 of this title, and the withholding
tax collections of which are not sufficient to make required
payments of principal or interest because of a reduction in gross
payroll at a facility constructed with or equipped with personal
property acquired through the use of proceeds from the issuance of
obligations by the Oklahoma Development Finance Authority pursuant
to the provisions of this act, shall be liable to the State of
Oklahoma and the Oklahoma Development Finance Authority for the
amount of any required principal or interest payment associated with
obligations issued as a result of a second irrevocable election the
proceeds of which have been paid to the establishment or are
available for use by the establishment that remains after using the
incentive payment plus the withholding taxes of the establishment.
B. An establishment incurring an obligation for the payment of
any principal, interest or other costs pursuant to subsection A of
this section shall be liable only for amounts accrued during such
period of time. The establishment shall not have any direct
liability for subsequent periods of time during which the sum of the
incentive payment and the withholding tax collected from the
establishment is sufficient to make required payments in
satisfaction of the obligations issued pursuant to subsection A of
Section 3654 of this title.
Added by Laws 2002, c. 299, § 10, emerg. eff. May 23, 2002. Amended
by Laws 2008, c. 182, § 9, eff. Nov. 1, 2008.
Source: official Oklahoma text · Last verified 2026-08-27
Frequently Asked Questions About Oklahoma § 68-3660
What does Oklahoma Statutes § 68-3660 cover?
Section 68-3660 ("Establishments ceasing to qualify for incentive payment Liability for payment of principal, interest or other costs") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 68-3660?
A common citation format is "Oklahoma Statutes § 68-3660" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 68-3660 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.