HB3978

Oklahoma HB3978 amends the Oklahoma Rural Jobs Act to modify definitions and investment caps for state tax credits.

Oklahoma HB3978 amends the Oklahoma Rural Jobs Act by updating definitions and modifying capital investment authority caps for state tax credits. The bill modifies the definition of "qualified investment" and updates references. It also changes the caps on state tax credits for applications approved before and on or after the effective date of the act. The changes include a cap of Fifteen Million Dollars ($15,000,000.00) in state tax credits for applications approved on or before the effective date, excluding any credit amounts carried forward.