Oklahoma § 68-4106 - Claims for investment payments – Timing – Verification –

§ 68-4106. Claims for investment payments – Timing – Verification –

Cessation of payments and recovery of payments when agreement terms

not met – Additional payments.

A. As soon as practicable after the end of a fiscal year for

which a qualified establishment has qualified to receive an

investment payment, the establishment shall file a claim for the

payment with the Oklahoma Tax Commission for ten percent (10%) of

the total amount of capital costs actually invested by the

establishment during such fiscal year.

B. If the first claim for investment payment is filed later

than two (2) years from the start date designated by the Department,

the agreement shall be deemed expired and void.

C. The Tax Commission shall verify for each fiscal year the

actual amount of capital costs and the actual tax benefit accrued or

to be accrued to the State of Oklahoma. If the Tax Commission is

not able to provide such verification utilizing all available

resources, the Tax Commission may request such additional

information from the establishment as may be necessary or may reject

the establishment’s claim based upon analysis of actual capital

costs incurred by the establishment.

D. If the qualified establishment does not meet the terms of

the agreement and all provisions of this act, investment payments

shall cease and shall not be resumed, and the agreement shall expire

and be void. The Oklahoma Department of Commerce may seek to

recover in a court of competent jurisdiction any payments made to a

qualified establishment if the establishment does not comply with

the requirements of subparagraph e of paragraph 2 of subsection F of

Section 4 of this act; provided, however, that no investment

Oklahoma Statutes - Title 68. Revenue and Taxation

payments shall be subject to recovery or recapture based upon a

failure to invest capital equal to the amount estimated by the

qualified establishment as stated in a quality investment agreement.

E. A qualified establishment that has qualified pursuant to

Section 4 of this act may receive payments only in accordance with

the provisions under which it initially applied and was approved.

F. An establishment that is receiving investment payments may

not apply for additional investment payments for any new capital

costs until expiration of its quality investment agreement.

Provided, a qualified establishment may apply for additional

investment payments pursuant to subsequent quality investment

agreements based upon additional capital costs at a different

manufacturing site.

G. As soon as practicable after verification of the eligibility

of the manufacturer as required by this section, the Tax Commission

shall issue a warrant to the establishment.

Added by Laws 2004, c. 391, § 6, eff. July 1, 2004.