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It challenges common horse sense to think some Oklahoma officials are not benefiting from a state funded program giving "so called investors" $2 for every $1 they invest in new Oklahoma business ventures?
The "so called investors" are only required to invest 25% of this public money in the the venture.
Keeping 75% of the public money received to divide as booty among the "so called investors". Investors that never risk one dime.
Why wouldn't state officials be involved? There is nothing illegal about state officials being investors, while the law mandates these same
officials keep hidden how much the state is spending, the identities of all involved and what if anything the state if receiving.
Why wouldn't state officials be involved? Enjoy the riches, when $100's millions of tax dollars is disappearing in undeserved pockets.
All from a program the state officials defend as good for the economy, creates jobs, nothing illegal is involved?
While ignoring how little of the public money is actually invested and a litany of other wrongs involved.
Why wouldn't state officials be involved? The program operates with total autonomy, void of any oversight, responsibility,
free of involvement by any state agency or officials*. Freeing state officials of any acts that could be viewed as a potential conflict interest.
Worst known cases
$66.3 million in tax revenue taken by Altus Ventures and only $17 million has to be invested, leaving $49 million to divide as booty among unknowns!
See more.
Two other cases kept hidden and details are skimpy, Rocketplane and Greatplains Airlines. See
Known ventures receiving excessive tax credits
The story is in the law and events transpiring during the writing of the law.
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* Note: There is a minor administrative role required on the part of the Okalhoma Tax Commision to insure those receiving tax credits have no trouble using them.
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