Oklahoma SB1117 modifies the definition of qualified projects for economic development and infrastructure tax credits.
Oklahoma SB1117 amends the definition of qualified projects for economic development and infrastructure tax credits. It specifies that eligible entities must be incorporated and located in the state with a qualifying project in a designated area. Qualifying projects include new construction, expansion, or initial infrastructure development. The bill sets a cap of $6,000,000 per qualifying project and allows unused credits to be carried over for five subsequent tax years.
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