Oklahoma § 74-5090.1 - Legislative Evaluation and Development Committee —

§ 74-5090.1. Legislative Evaluation and Development Committee —

Duties — Membership.

A. There is hereby created within the Legislature the

Legislative Evaluation and Development Committee. The Legislative

Evaluation and Development Committee shall review financing for

individual incentive packages including, but not limited to,

packages offering tax incentives, funds for economic development,

and, when the annual investment exceeds Twenty Million Dollars

($20,000,000.00), excluding funding from existing incentives for any

business, new or existing currently in this state, or when one or

more of the incentives in the incentive package is not authorized

under current law or an amendment by the Legislature is being sought

to one or more currently existing incentives included in the

incentive package. In addition to the required review of certain

incentive packages as prescribed by this section, the Committee may,

in its discretion, also review potential economic development

projects presented by private sector businesses or state or other

political subdivision authorities which would be financed by public

funds.

B. The Legislative Evaluation and Development Committee shall

evaluate and propose economic projects provided by the Division on

Economic Development, Growth, and Expansion within the Oklahoma

Department of Commerce. The Committee shall consist of:

1. Four members of the Senate to be appointed by the President

Pro Tempore of the Senate, one of whom shall be from the minority

party; and

2. Four members of the House of the Representatives to be

appointed by the Speaker of the House of Representatives, one of

whom shall be from the minority party.

The President Pro Tempore of the Senate, or his or her designee,

and the Speaker of the House of Representatives, or his or her

designee, shall serve as co-chairs for the Committee.

C. The quorum of the Committee shall consist of at least five

members. Meetings of the Committee shall be governed by joint rules

of the Legislature. Members of the Committee may receive

reimbursement from the Legislative Service Bureau for actual and

necessary expenses incurred in connection with their duties as

members of the Committee in accordance with other provisions of law

relating to travel reimbursement for members of the Legislature.

Members serving on this Committee shall submit to nondisclosure

Oklahoma Statutes - Title 74. State Government

agreements and adhere to the confidentiality of the material

discussed in meetings that affects the economic development of this

state.

Added by Laws 2024, c. 377, § 8, emerg. eff. June 5, 2024.