SECTION 36. AMENDATORY 68 O.S. 2001, Section 3905, as amended by Section 4,
Chapter 308, O.S.L. 2002 (68 O.S. Supp. 2005, Section 3905), is amended to read
Section 3905. A. 1. Beginning with the first complete calendar quarter after the
application of the establishment is approved by the Oklahoma Department of
Commerce, the establishment shall begin filing quarterly reports with the
Oklahoma Tax Commission that specify the actual number and individual gross
taxable payroll of new direct jobs for the establishment and such other
information as required by the Tax Commission. In no event shall the first
claim for incentive payments be filed later than three (3) years from the start
date designated by the Department. The Tax Commission shall verify the
actual individual gross taxable payroll for new direct jobs. If the Tax
Commission is not able to provide such verification utilizing all available
resources, the Tax Commission may request additional information from the
establishment as may be necessary or may request the establishment to revise
establishment shall continue filing such reports during the seven-year
incentive period or until it is no longer qualified to receive incentive
payments. Such reports shall constitute a claim for quarterly incentive
payments by the establishment.
receipt of a report for the initial calendar quarter of the incentive period
and for each subsequent calendar quarter thereafter, the Tax Commission shall
determine if the establishment has met the following requirements:
and or maintained the minimum number of new direct jobs as specified in
paragraph 3 of subsection C of Section 3904 of this title, and
the individuals it employed in new direct jobs an annualized wage which equaled
or exceeded the applicable percentage of the average county wage as that
percentage was determined by the Oklahoma Department of Commerce upon approval
of the application.
3. Upon determining that an establishment has met the requirements of paragraph 2 of
this subsection for the initial calendar quarter of the incentive period, the
Tax Commission shall issue a warrant to the establishment in an amount which
shall be equal to the net benefit rate multiplied by the amount of gross
taxable payroll of new direct jobs actually paid by the establishment.
B. Except as provided in subsection C of this section, the quarterly incentive
payment provided for in subsection A of this section shall be allowed in each
of the twenty-seven subsequent calendar quarters.
C. 1. An establishment which does not meet the requirements of paragraph 2 of
subsection A of this section within twelve (12) months of the date of its
application shall be ineligible to receive any incentive payments pursuant to
its application and approval.
2. An establishment which at any time during the twenty-seven subsequent calendar
quarters does not meet the requirements of paragraph 2 of subsection A of this
section shall be ineligible to receive an incentive payment during the calendar
quarter in which such requirements are not met.