Bill > HB2768

This bill modifies the Oklahoma Quality Jobs Incentive Leverage Act by increasing certain investment limitation caps for qualifying establishments. Specifically, the bill raises the maximum additional investment amount an establishment can make from $250 million to $700 million within five years of filing a second irrevocable election with the Oklahoma Department of Commerce. The bill also increases the maximum investment amount for property tax exemption purposes from $500 million to $700 million. To qualify as an "establishment" under the act, a business must meet several criteria, including having at least $115 million in annual gross compensation, an average salary of $40,000, at least $200 million in total Oklahoma investment, and 1,550 full-time employees. The bill is designed to provide incentives for large businesses to invest in Oklahoma by offering financial benefits through bond proceeds and tax-related provisions, while also establishing specific requirements and restrictions on how those benefits can be utilized.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2768&Session=2600