§ 844. State local enterprise matching payments--Eligibility and amount
Oklahoma Statutes AnnotatedTitle 62. Public Finance
62 Okl.St.Ann. § 844
§ 844. State local enterprise matching payments--Eligibility and amount
A. If an enterprise is located within an incentive district pursuant to the provisions of Section 856 of this title, and the enterprise either constructs or expands a facility that is located within an enterprise zone designated pursuant to the provisions of Section 690.2 of this title, the enterprise shall be eligible for a state local enterprise matching payment equal to the amount of sales tax exemption afforded to the enterprise pursuant to Section 860 of this title.
D. Beginning July 1, 2005, the state local government matching payment shall be made in an amount equal to the lesser of the amount of local sales taxes which have been apportioned under the applicable project plan during the period prescribed by subsection B of this section pursuant to Section 861 of this title or the net benefit rate multiplied by the actual gross sales derived from the project, pursuant to the limits provided in Section 842 of this title.
Credits
Laws 2000, c. 339, § 13, eff. July 1, 2000; Laws 2004, c. 448, § 4, emerg. eff. June 4, 2004.
62 Okl. St. Ann. § 844, OK ST T. 62 § 844
Current with emergency effective legislation through Chapter 106 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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