§ 68-3657. Quality Jobs Program Incentive Leverage Fund.

There is hereby created within the State Treasury a special fund for the Oklahoma Development Finance Authority to be designated the “Quality Jobs Program Incentive Leverage Fund”.  All amounts deposited into the fund shall be used and expended by the Oklahoma Development Finance Authority solely for the purposes and in the amounts authorized by the Oklahoma Quality Jobs Incentive Leverage Act.  The Oklahoma Development Finance Authority is hereby specifically authorized and directed to use the monies transferred from the Quality Jobs Program Incentive Leverage Fund for the payment of principal, interest and other costs associated with the issuance of obligations pursuant to the provisions of this act.  The Oklahoma Development Finance Authority shall establish separate accounts within the Quality Jobs Program Incentive Leverage Fund as may be required to separately record transactions involving each establishment that files an irrevocable election or second irrevocable election pursuant to Section 3658 of this title and to provide for the deposit of incentive payments, if applicable, and withholding taxes apportioned to the Fund pursuant to Section 3659 of this title or for such other purposes as the Authority may determine to be necessary.

Added by Laws 2002, c. 299, § 7, emerg. eff. May 23, 2002.  Amended by Laws 2008, c. 182, § 6, eff. Nov. 1, 2008.