§ 68-3902 — Incentive payments.

It is the intent of the Legislature that: 1. The State of Oklahoma provide appropriate incentives to support the creation of quality jobs, particularly by small businesses, in basic industries in this state; 2. The incentives provided be directly related to quality jobs created as a result of a business locating or expanding in this state; 3. The Oklahoma Department of Commerce and the Oklahoma Tax Commission implement the provisions of this act and exercise all powers as authorized in this act. The exercise of powers conferred by this act shall be deemed and held to be the performance of essential public purposes; and 4. Nothing herein shall be construed to constitute a guarantee or assumption by the State of Oklahoma of any debt of any individual, company, corporation or association nor to authorize the credit of the State of Oklahoma to be given, pledged or loaned to any individual, company, corporation or association.

Legislative History

Added by Laws 1997, c. 419, § 2, eff. Jan. 1, 1998.