Section 3634 - Conditionally prequalified rebate amountA. The total amount of rebate payments conditionally pre-qualified by the Department of Commerce each fiscal year with respect to any of the incentives authorized pursuant to this act shall not exceed Thirty Million Dollars ($30,000,000.00). Projects not conditionally pre-qualified for rebate payments due to the limitations provided in this section may be conditionally prequalified by the Department in subsequent fiscal years.B. The amount of rebate payments conditionally pre-qualified by the Department of Commerce each fiscal year with respect to any of the incentives authorized pursuant to this act shall not exceed:1. Seven Million Five Hundred Thousand Dollars ($7,500,000.00) for production projects with total expenditures of less than Seven Million Five Hundred Thousand Dollars ($7,500,000.00); and2. Twenty-two Million Five Hundred Thousand Dollars ($22,500,000.00) for production projects with total expenditures of Seven Million Five Hundred Thousand Dollars ($7,500,000.00) or more.C. A production project shall have total expenditures of Fifty Thousand Dollars ($50,000.00) or more to be eligible for the rebate payments provided in this act.D. In any fiscal year if the amount of rebate payments conditionally pre-qualified by the Department of Commerce are less than the limitations provided in this section, the excess rebate payments not utilized shall be added to subsequent fiscal year's limitation.Okla. Stat. tit. 68, § 3634
Added by Laws 2021 , c. 516, s. 4, eff. 7/1/2021.