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Dissecting Oklahoma's Capital Formation Incentive Act

We provide the entire context of the law here, however if you prefer you can download an official copy of the Act from the Oklahoma state Website and follow along. Download

Flaws in the law More Ref. Section
The cover-up. Denying the public the right to know. View 1.C.27
Unfair qualifications restricting access to select groups. View  
A public subsidized monoply. Learn who really owns the investment

Unknowns building a corporate monoply of companies all paid for by public money.
View  
Grandfathering Another smoke screen to slip in another $330 million View  
Only one-fourth or 25% of the public funded money has to go for jobs and be invested in Oklahoma.

Loophhole: No requirement to invest the other 50%

View 5, 18
Public recourse in the event of wrong doing. Recapture (Clawback) and Penalties. Has been nullified. Originally intended to recovery the amount in tax credits when a violation was uncovered has been View

 
Rural Venture Capital Formation Incentive Act View

 
VCC - Venture Capital Company View

 
Oklahoma rural small business venture View

 
Oklahoma rural small business venture View

 
Investments

SECTION 2 AMENDATORY Qualified venture capital companies Oklahoma business venture

SECTION 2.G AMENDATORY The credit may also be claimed for funds borrowed by the pass-through entity to make a qualified investment

SECTION 3 NEW LAW Qualified venture capital companies But not the Gov, On or before November 1 of each year OTC file a report with the Speaker of the House of Representatives and the President Pro Tempore of the Senate.

SECTION 4 AMENDATORY Qualified venture capital companies Files report with OTC and investors

SECTION 4 Read AMENDATORY What happens if VCC fails to do certain things

SECTION 5 Recapture NEW LAW Qualified venture capital companies

SECTION 21 NEW LAW Added is a qualified investment Oklahoma rural small business venture

SECTION 17 1 AMENDATORY Section 2357.71 Sections 1 2357.71 through 6 2357.76 of this act title, including Sections 20, 21, 22, 23, 24 and 25 of this act, shall be known and may be cited as the "Rural Venture Capital Formation Incentive Act."

SECTION 18, 19 AMENDATORYs qualified rural small business capital company Oklahoma rural small business venture rural business investment company under 7 U.S.C., Section 2009cc

SECTION 19 30% AMENDATORY Rural Venture Capital Formation Incentive Act, Oklahoma rural small business venture

SECTION 20 AMENDATORY

SECTION 21 Added is a qualified investment NEW LAW Oklahoma rural small business venture

SECTION 22 Addde G no Recapture NEW LAW Oklahoma rural small business venture

SECTION 23 removed subordinated debt from 2 & 2a NEW LAW Oklahoma rural small business venture

SECTION 24, 25 NEW LAWs Oklahoma rural small business venture

SECTION 26 AMENDATORY Oklahoma rural small business ventures

SECTION 27 AMENDATORY Rural Venture Capital Formation Incentive Act

   
Basic Tax credits allowed
Section 19.B 30% allowed for Rural Capital Formation Incentive Act
Section 20.B 30% allowed for Rural Capital Formation Incentive Act
   
Period tax credits can be carried forward Section 19.B Accelerated from 10 years to 3 years
   
Reports Section 1.D & E
Section 3
Section 4.B & E
Section 27
   
Determination Letters Section 21.F All
Section 24 Rural Capital Formation Incentive Act
   
Definitions Section 21 New Defines qualified rural small business capital company and rural small business venture    
Definitions Section 18 Rural Capital Formation Incentive Act    
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