Bill
Bill > SB637
OK SB637
OK SB637State government; creating the OK to Relocate Act; authorizing the Oklahoma Department of Commerce to establish a talent attraction program. Effective date.
summary
Introduced
02/06/2023
02/06/2023
In Committee
02/20/2023
02/20/2023
Crossed Over
Passed
Dead
05/31/2024
05/31/2024
Introduced Session
2023 Regular Session
Bill Summary
An Act relating to state government; creating the OK to Relocate Act; providing short title; establishing the OK to Relocate Fund; providing more maximum deposits; authorizing the Oklahoma Department of Commerce to establish a talent attraction program; allocating funds necessary for program; providing for the promulgation of rules; establishing criteria for payment; providing exceptions; exempting certain analysis; providing for codification; and providing an effective date.
AI Summary
This bill creates the "OK to Relocate Act," which establishes the OK to Relocate Fund within the Oklahoma Department of Commerce. The fund will be used to implement a talent attraction program to attract out-of-state businesses, create new jobs, and promote workforce relocation to the state. The bill authorizes the Department to use the funds for advertising, marketing, and reimbursing companies that provide at least $10,000 relocation bonuses to their employees who move to Oklahoma from outside the state. The reimbursements are limited to 100 employees per company over a three-year period, and the employees must maintain Oklahoma residency for at least three years. The bill also exempts these funds from any benefit analysis in determining eligibility for other incentives or credits.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (3)
Last Action
Coauthored by Representative ODonnell (on 03/20/2023)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb637&Session=2400 |
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb637&Session=2300 |
| Fiscal Note/Analysis - Senate: Committee Substitute | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20SUPPORT%20DOCUMENTS/BILLSUM/Senate/SB637%20CS%20BILLSUM.PDF |
| BillText | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20COMMITTEE%20SUBS/SCS/SB637%20CS.PDF |
| Committee Amendment | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20COMMITTEE%20AMENDMENTS/Senate/SB637%20PCS.PDF |
| Fiscal Note/Analysis - Senate: Introduced | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20SUPPORT%20DOCUMENTS/BILLSUM/Senate/SB637%20INT%20BILLSUM.PDF |
| BillText | http://webserver1.lsb.state.ok.us/cf_pdf/2023-24%20INT/SB/SB637%20INT.PDF |
Loading...