Bill > HB4191

This bill modifies the Small Employer Quality Jobs Act, a program designed to incentivize businesses to create jobs in Oklahoma by offering tax credits. Key changes include defining "qualifying capital investment" to include new construction, renovation, or purchase of new manufacturing machinery, and establishing a minimum investment of $500,000 or achieving 35% of total sales to out-of-state customers within the first two years for eligibility. The bill also adjusts the minimum job creation requirements based on municipality population, generally increasing the thresholds for larger cities, and clarifies that the Oklahoma Department of Commerce will verify capital investment or sales thresholds before incentive payments are made for contracts executed after November 1, 2026, with a provision for contract cancellation if these requirements are not met within 36 months of application. Additionally, the bill updates the effective date for these changes to July 1, 2026, and declares an emergency to allow for immediate implementation.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb4191&Session=2600