A guide to the massive flaws in an Oklahom law
Capital Formation Incentive Act
We provide the entire context of the law. On this page we have arranged the sections relevant groupings. 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|
|A law left void of protection against wrong doing. A very clever and key element.||View||All and none|
|The cover up. Denying the public the right to know.||View||1.C.27|
Using artificial loans* to inflate investments at risk and
$2 in tax credits for each $1 invested.
*similar to a Counterfeit loan.
|View||2, 18, 19, 20|
VCC - Venture Capital Company
Qualifications favoring and restricting access to select groups.
|View||1, 2, 3, 4, 20|
|Authorizes selling tax credits||View||2|
|A public subsidized monoply. Learn who will actually own the business venture?||View||19, 20|
|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||
||1, 2, 4, 22, 26|
|Grandfathering Another smoke screen to slip in another $330 million||View||25|
|Only one-fourth or 25% of the public funded money has to go for jobs and be invested in Oklahoma.||View||2, 5, 18|
|Protecting the wrong, so specifically and clearly stated.||View||1, 4, 20|
Rural Venture Capital Formation Incentive Act
Oklahoma rural small business ventureOklahoma small business venture