1 STATE OF OKLAHOMA
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2 2nd Session of the 59th Legislature (2024)
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3 HOUSE BILL 4019 By: McBride
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6 AS INTRODUCED
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7 An Act relating to economic development; creating
7 investment rebate program until certain date;
8 providing qualifying criteria; requiring submission
8 of application; requiring the Oklahoma Department of
9 Commerce to approve or disapprove certain claims and
9 issue payment; limiting source of payments; making
10 payments contingent upon deposits to certain fund;
10 providing amount of rebate; authorizing conditional
11 pre-qualification; creating the Commerce
11 Manufacturing Activity Development Fund; establishing
12 fund procedures; providing sources of funds;
12 providing for expenditures from fund; directing
13 transfer of unencumbered fund upon certain date;
13 making appropriation; directing deposit in certain
14 fund; providing for codification; providing an
14 effective date; and declaring an emergency.
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18 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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19 SECTION 1. NEW LAW A new section of law to be codified
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20 in the Oklahoma Statutes as Section 3647.1 of Title 68, unless there
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21 is created a duplication in numbering, reads as follows:
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22 A. There is hereby created until July 1, 2030, an investment
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23 rebate program for the cost of qualified capital expenditures
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24 defined by Section 3645.3 of Title 68 of the Oklahoma Statutes, by
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 1 establishments defined by Section 3645.3 of Title 68 of the Oklahoma
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2 Statutes, that:
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3 1. Are defined or classified in the NAICS Manual under Industry
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4 Group No. 325120; and
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5 2. Have acquired real property located within the boundaries of
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6 a municipality with a population between twenty thousand (20,000)
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7 and thirty thousand (30,000), according to the latest Federal
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8 Decennial Census, where the qualified capital will be located.
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9 B. To be eligible for consideration for an investment rebate
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10 payment awarded under the provisions of this act, the establishment
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11 shall:
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12 1. Submit an application and documentation to the Oklahoma
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13 Department of Commerce, as required by the Department, outlining a
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14 capital expenditure plan in this state associated with qualified
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15 capital expenditures totaling no less than Eight Hundred Million
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16 Dollars ($800,000,000.00);
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17 2. Have made qualified capital expenditures of no less than
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18 twenty percent (20%) of the capital expenditure plan outlined in the
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19 application submitted by the primary establishment and approved by
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20 the Oklahoma Department of Commerce, pursuant to the provisions of
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21 this act; and
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22 3. Have filed all Oklahoma tax returns and tax documents
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23 required by law.
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 1 C. Notwithstanding any other provision of law, no investment
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2 expenditure shall be utilized for calculation purposes that results
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3 in the qualification of more than one establishment under the
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4 provisions of this act, for investment rebate payments based on the
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5 same expenditure.
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6 D. 1. The Oklahoma Department of Commerce shall approve or
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7 disapprove claims for rebates and shall issue payment for all
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8 approved claims from funds held in the Commerce Manufacturing
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9 Activity Development Fund created in Section 2 of this act.
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10 2. The Department shall disapprove all applications and claims
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11 or any portion of applications and claims for rebates that would
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12 exceed the balance of available funds in the Commerce Manufacturing
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13 Activity Development Fund.
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14 3. The total amount of applications approved and investment
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15 rebate payments awarded under the provisions of this act shall not
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16 exceed the total amount of monies designated by law for deposit to
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17 the Commerce Manufacturing Activity Development Fund.
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18 E. 1. Subject to the approval and ongoing review of the
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19 eligibility application by the Oklahoma Department of Commerce, the
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20 investment rebate payment authorized by this act shall be equal to
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21 six and twenty-five hundredths percent (6.25%) of the cost of the
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22 qualified capital expenditure in the year of expenditure.
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23 2. The Department is authorized to conditionally pre-qualify
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24 and account for anticipated future investment rebate payments. The
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 1 Oklahoma Department of Commerce shall not pre-qualify investment
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2 rebate payments, encumber funds, pre-encumber funds, or otherwise
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3 allocate resources that would result in the allocation of investment
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4 rebate payments in excess of the balance of available funds in the
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5 Commerce Manufacturing Activity Development Fund.
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6 SECTION 2. NEW LAW A new section of law to be codified
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7 in the Oklahoma Statutes as Section 3647.2 of Title 68, unless there
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8 is created a duplication in numbering, reads as follows:
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9 A. There is hereby created in the State Treasury a fund for the
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10 Oklahoma Department of Commerce to be designated the “Commerce
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11 Manufacturing Activity Development Fund”. The fund shall be a
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12 continuing fund, not subject to fiscal year limitations, and shall
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13 consist of all monies designated for deposit to the fund by law.
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14 All monies accruing to the credit of the fund are hereby
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15 appropriated and may be budgeted and expended by the Department for
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16 the purpose of paying rebates as provided in this act. Expenditures
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17 from such fund shall be made upon warrants issued by the State
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18 Treasurer against claims filed as prescribed by law with the
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19 Director of the Office of Management and Enterprise Services for
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20 approval and payment.
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21 B. All unencumbered funds remaining in the Commerce
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22 Manufacturing Activity Development Fund upon January 1, 2030, shall
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23 be transferred to the State Treasurer for deposit in the General
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24 Revenue Fund.
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 1 SECTION 3. There is hereby appropriated to the Oklahoma
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2 Department of Commerce for deposit in the Commerce Manufacturing
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3 Activity Development Fund, from any monies not otherwise
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4 appropriated from the General Revenue Fund of the State Treasury for
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5 the fiscal year ending June 30, 2023, the sum of Fifty Million
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6 Dollars ($50,000,000.00).
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7 SECTION 4. This act shall become effective July 1, 2024.
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8 SECTION 5. It being immediately necessary for the preservation
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9 of the public peace, health or safety, an emergency is hereby
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10 declared to exist, by reason whereof this act shall take effect and
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11 be in full force from and after its passage and approval.
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13 59-2-8638 MAH 01/08/24
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