A. This act shall be known and may be cited as the "Taxpayer Transparency
B. As used in the Taxpayer Transparency Act:
1. "Single website" means a website that allows the public to access
information identified in subsection C of this section without any fee or charge
to the public for such access;
2. "Expenditure of state funds" means the disbursement of state funds,
whether appropriated or nonappropriated, excluding:
a. the transfer of funds between two state agencies,
b. payments of state or federal assistance to an individual,
c. child support payments, and
d. refunds issued by the Oklahoma Tax Commission resulting from the
overpayment of tax;
Tax refunds, for tax credits, are not excluded, and must be reported, but are not.
3. "Incentive payments" means payments made under the Oklahoma Quality Jobs
Program Act, Saving Quality Jobs Act, Oklahoma Quality Jobs Incentive Leverage
Act, Small Employer Quality Jobs Incentive Act, Oklahoma Specialized Quality
Investment Act and Oklahoma Quality Investment Act; and
4. "Tax credit" means a credit pursuant to the Oklahoma Income Tax Act
against tax liability which is taken by a taxpayer, excluding credits authorized
under paragraphs 1 and 2 of subsection B of Section 2357 and Sections 2357.29
and 2357.43 of Title 68 of the Oklahoma Statutes.
C. No later than January 1, 2008, the Office of State Finance shall develop
and operate a single website accessible by the public. The website shall include
aggregate information on state revenue, expenditures and incentive payments and
information on state tax preferences as contained in the tax expenditure report
published by the Oklahoma Tax Commission pursuant to subsection E of Section 205
of Title 68 of the Oklahoma Statutes. No later than January 1, 2009, the website
shall include search capabilities.
D. As soon as practicable after January 1, 2008, such website shall also
include, but not be limited to:
1. For the expenditure of state funds or incentive payments:
a. the name and principal location of the entity and/or recipients of the
funds, excluding release of information relating to an individual's place of
residence, release of information prohibited by subsection D of Section 24A.7 of
Title 51 of the Oklahoma Statutes or by federal law relating to privacy
b. the amount of state funds expended,
c. the type of transaction,
d. the funding or expending agency, and
e. a descriptive purpose of the funding action or expenditure; and
2. For each tax credit, information, including but not limited to:
a. the name of each taxpayer to which a credit has been granted,
b. the amount of such credit, and
c. the specific provision under which a credit has been granted.
Tax credits in question are:
Many of those granted tax credits sold their tax credits to others, the users.
Section 2357.62 - Tax Credit for Qualified Investment in Qualified Small Business Capital Companies - Pass-Through Entities
Section 2357.63 - Tax Credit for Qualified Investments in Oklahoma Small Business Ventures - Pass-Through Entities
Section 2357.73 - Tax Credit for Qualified Investment in Qualified Rural Small Business Capital Companies - Pass-Through Entities
Section 2357.74 - Tax Credit for Qualified Investment in Oklahoma Rural Small Business Ventures - Pass-Through Entities
E. The single website provided for in subsection C of this section shall
include data on state revenue, expenditures and incentive payments for the
fiscal year 2007 and each fiscal year thereafter and on state tax credits for
tax year 2007 and each tax year thereafter. Such data shall be available on the
single website no later than one hundred twenty (120) days after the last day of
the preceding fiscal year.
F. The Oklahoma Tax Commission, the Office of the State Treasurer, all
institutions of The Oklahoma State System of Higher Education and any other
state agency shall provide to the Office of State Finance such information as is
necessary to accomplish the purposes of this act.
G. So that the Tax Commission may fulfill its obligations as required by this
section, all recipients of tax credits, as that term is defined herein, shall
file their reports or returns claiming the tax credits in an electronic format,
as may be required by the Tax Commission. The Tax Commission may disallow any
claim of a person for a tax credit due to its failure to file a report or return
as required under the authority of this paragraph.
H. Nothing in this act shall require the disclosure of information which is
required confidential by state or federal law.
I. The disclosure of information required by this section shall create no
liability whatsoever, civil or criminal, to the State of Oklahoma or any member
of the Office of State Finance or any employee thereof for disclosure of the
information or for any error or omission in the disclosure.