Oklahoma Department of Commerce Docket OAC 150:170 Proposed Rule

ok-2623: Oklahoma Department of Commerce — Oklahoma Strategic Industrial Development Enhancement Tax Credit

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Summary

The proposed emergency rule amendments implement changes enacted by Engrossed SB 1401 during the 2nd Session of the 59th Oklahoma Legislature. These amendments update definitions and program criteria within the Oklahoma Strategic Industrial Development Enhancement Tax Credit. Specifically, the rules incorporate statutory changes that add rehabilitation of existing track to the list of qualified initial infrastructure expenditures and remove limitations on the amount of tax credit that may be assigned to a qualifying project affiliate. The amendments ensure consistency with current law and provide clarity and certainty for eligible entities participating in the program.

The agency’s own summary, as published.

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