STATE OF OKLAHOMA

2nd Session of the 53rd Legislature (2012)

HOUSE BILL 2293	By:	Proctor and Derby

AS INTRODUCED

 An Act relating to revenue and taxation; requiring certain taxpayers to repay amounts received as incentive payments or reductions in tax liability under specified conditions; permanently prohibiting incentives under specified conditions; requiring Oklahoma Tax Commission to promulgate certain rules; providing for codification; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 271 of Title 68, unless there is created a duplication in numbering, reads as follows:
Notwithstanding any other provision of law, if a taxpayer receives any incentive payment or reduction in tax liability for job creation pursuant to any such incentive which results in a revenue impact to the state, or pursuant to any other provisions of law now or hereinafter enacted and such taxpayer subsequently relocates the job or jobs outside this state for which the incentive or reduction was granted within ten (10) years from receipt of the incentive or reduction, the taxpayer shall be required to repay such incentive or reduction amounts within sixty (60) days of relocating the jobs and shall be permanently ineligible to receive any incentive payment or reduction in tax liability in this state in the future.  Acceptance of any incentive payment or reduction in tax liability for job creation shall impose upon the taxpayer a binding and enforceable agreement pursuant to the provisions of this section.  The Oklahoma Tax Commission shall promulgate rules for repayment, including audit and appeal procedures.
SECTION 2.  This act shall become effective November 1, 2012.

53-2-8050	CJB	01/08/12