Oklahoma SB294 excludes electric automobiles for highway use manufacturing from the Oklahoma Quick Action Closing Fund.
Oklahoma SB294 amends the Oklahoma Quick Action Closing Fund to exclude certain industries from eligibility for funds. Specifically, establishments engaged in electric automobiles for highway use manufacturing, as defined by the 2022 NAICS Manual under U.S. Industry Group No. 336110, are not eligible for funds from the Oklahoma Quick Action Closing Fund. The fund is intended for economic development and infrastructure development, with criteria including economic impact, local participation, capital investment, and average wage thresholds.
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