Okla. Admin. Code § 150:65-7-1

Current through Vol. 42, No. 7, December 16, 2024

Section 150:65-7-1 - Applications; approval of applications

(a) Applications submitted to the Oklahoma Department of Commerce pursuant to the Saving Quality Jobs Act 68 O.S. Supp. 1994, Section 3701 et seq. or the Former Military Development Act 68 O.S. Supp. 1994, Section 3801 et seq. must be submitted in writing on forms or in a form approved by the Oklahoma Department of Commerce and must be executed by an authorized officer or designated representative of the applicant, approved by the Department.

(b) Applications shall be date and time stamped by the Department upon receipt at its offices in Oklahoma City or Tulsa or by field representatives, in the order in which they are received. Applications received in the same delivery of mail shall be stamped in the order in which they are opened.

(c) Applications shall be considered for approval in the order in which they are received as indicated by their date and time stamp. Provided, if sufficient benefits remain available in all fiscal years included in all pending applications, such that no pending application need be rejected for lack of available benefits, then applications may be considered in any order.

(d) If approval of an application would result in aggregate projected benefits, pursuant to the Saving Quality Jobs Act, 68 O.S. Supp. 1994, Section 3601 et seq., in excess of Two Million Five Hundred Thousand Dollars ($2,500,000.00) in any fiscal year included in the application then said application shall not be considered for approval.

(e) If approval of an application would result in aggregate projected benefits, pursuant to the Former Military Facility Development Act, in excess of Two Million Five Hundred Thousand Dollars ($2,500,000.00) in any fiscal year included in the application then said application shall not be considered for approval.

(f) Establishments which have been approved for benefits pursuant to the Saving Quality Jobs Act, or the Military Facility Development Act may not claim benefits in any fiscal year which would exceed the maximum projected benefits upon which their application was considered and approved by the Department.

(g) If an application must be rejected because its approval would result in aggregate projected benefits in excess of the maximum set out in subsections (d) and (e) of this section but there is some amount of benefit left available in each of the fiscal years included in the application then the applicant may voluntarily reduce the amount of projected benefits in each fiscal year, so the maximum limits of subsections (d) and (e) shall not be exceeded and the application may then be considered.

(h) If an establishment shall cease to exist as an operating entity, or shall permanently lose its eligibility pursuant to the Saving Quality Jobs Act or the Former Military Facility Development Act then its projected benefits shall be subtracted from the aggregate amount for each affected fiscal year.

Okla. Admin. Code § 150:65-7-1

Added at 12 Ok Reg 19, eff 9-29-94 (emergency); Added at 12 Ok Reg 1339, eff 5-25-95