Altus Venture $126 million View
Scissortail $90 million View
Foxborough $300 million View
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Venture capital (also known as VC or Venture) is a type of private equity capital typically provided to early-stage, high-potential, growth companies where the rewards are years out and carry a high risk. Venture capital is a special kind of funding to create a foundation for building the businesses that will replace today's diminishing industry and jobs. Oklahoma's venture tax credit program was intended to incentivize that venture capital funding needed by rewarding investors tax credits worth 20 to 30% of their at risk investment. |
State legislators failed, for the second time, to close this loophole!
The new legislation was a major rewrite including a wide range of insignificant trivia and rearranging the elements that constitute the loophole so as to be more difficult to find. Extremely difficult!
The cover up, the cornerstone of fraud!
The Oklahoma public has been victimized by an act that subverts everything democracy represents.Oklahoma lawmakers and the governor, to hide involvement on the part of some, have stripped the public of one of its most critical constitutional rights and most important element in protecting a democracy, the right to be informed.
Oklahoma lawmakers and the governor didn't stop there, operates with complete autonomy allowing unknown private entities unabated and unlimited access to public money in the form of tax credits. By using tax credits the program circumvents the state budgetary process, diverts tax revenue before it appears in state financial records. Leaving no records or audit trail.
The obvious question is, why wouldn't state officials be profiting? It is not illegal!
- State officials created a program that uses tax dollars that pays certain investors a 200 percent for doing nothing!
- State officials created the program so that it would "not be illegal" for them to participate and gain unearned profits!
- State officials created the program to operate with complete autonomy avoiding any possible conflicts of interest.
- State officials created a law to insure everything about the program including who is involved would be kept totally secret!
All information related to this program is to be withheld from all but one political appointee. Ref. Captial Formation Incentive Act, Section 1. Download a copy of the Capital Formation Incentive Act.
Then why is the press turning its back?
When a press ignores actions by public officials that are so egregiously wrong it defies normal intelligence to surmise any alternative other than involvement and cover up. It is perfectly reasonable to assume that some ownership and management of the press are participating?
$850 million can be divided into a lot of big pieces of pie!
Lets do some rough "what if" math.
What if 150 elected state officials, 25 other key non-elected state officials, 50 key private state leaders and 50 key press owners/management, for a total of about 275 people were to divide a pie worth $850 million? They would each have $3 million slice of pie.
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