§ 68-3502. Findings and intent of Legislature.

A.  It is the finding of the Legislature that there exists in this state a continuing need for programs to assist political subdivisions in attracting federal facility development and consequent job creation and ancillary economic growth within this state.  In order to achieve these essential public purposes, it is necessary to assist and encourage political subdivisions to develop facilities for use by the federal government.

B.  It is the intent of the Legislature that:

1.  The State of Oklahoma provide appropriate incentives to assist political subdivisions of this state in attracting qualified federal facilities that hold the promise of significant development of the economy of the State of Oklahoma;

2.  The amount of such incentives provided in connection with a particular federal facility:

a.be directly related to the jobs created as a result of the facility locating in the State of Oklahoma, and

b.not exceed the estimated net direct state benefits that will accrue to the state as a result of the facility locating in the State of Oklahoma;

3.  The Oklahoma Department of Commerce and the Oklahoma Tax Commission implement the provisions of this act and exercise all powers as authorized in this act.  The exercise of powers conferred by this act shall be deemed and held to be the performance of essential public purposes; and

4.  Nothing herein shall be construed to constitute a guarantee or assumption by the State of Oklahoma of any debt of a political subdivision nor to authorize the credit of the State of Oklahoma to be given, pledged or loaned to any political subdivision.

Added by Laws 1993, c. 1, § 2, emerg. eff. Feb. 8, 1993.