The bill amends the Oklahoma Rural Jobs Act by updating the provisions related to capital investment tax credits. It establishes a cap of Fifteen Million Dollars ($15,000,000.00) in state tax credits that can be claimed against state tax liability for applications approved both before and after the effective date of the act. Additionally, it allows rural funds that received certification for applications approved prior to the act's effective date to apply for certification on new applications submitted afterward. The bill also specifies that at least ten percent (10%) of the capital investment must come from rural investors' own raised capital, and it outlines the timeline for issuing capital investments and the consequences of failing to do so.

Furthermore, the bill clarifies the process for rural funds to determine the eligibility of businesses for investment. It mandates that the Department must respond to requests for written opinions on business eligibility within fifteen business days, and if the Department does not respond by the twentieth business day, the business will be automatically considered eligible. The amendments aim to streamline the certification process and enhance participation in the Oklahoma Rural Jobs Act while ensuring that investments are made in eligible businesses.