Oklahoma Administrative Code
Title 105 - Oklahoma Capital Investment Board
Chapter 1 - Administrative Operations
Subchapter 5 - Programs
Section 105:1-5-3 - Oklahoma investments guaranteed by tax credits

The Board shall ensure that at least Two Dollars ($2.00) will be invested in Oklahoma businesses or projects for every One Dollar ($1.00) of principal guaranteed by the sale of tax credits by the Board (The Standard) [74:5085.8]. This Standard shall be applied as a portfolio, or a program-wide Standard to be achieved at least once by July 1,2015 and applies only to Board guarantees backed by tax credits issued to the Board pursuant to 74 O.S. 1991, Section 5085.7 and not to guarantees backed by cash, securities or other assets of the Board. Such dollars invested in Oklahoma businesses or projects includes capital mobilized directly through the use of an OCIB guarantee and that capital invested by others along with such directly mobilized capital in Oklahoma businesses or projects as equity, near-equity or debt. Accomplishment of this Standard shall be a cumulative measure of all such dollars and shall not be reduced by the liquidation or reduction in value of investments in Oklahoma businesses or projects. The fact that the Board at any one point in time may not have yet achieved the Standard shall not invalidate or affect the enforceability of any Board guarantee backed by the sale of tax credits. The Board shall seek to negotiate investment agreements that include standards required of individual investments which shall be appropriate to the investment and that enable the Board to outperform this Standard.

Added at 10 Ok Reg 219, eff 10-28-92 (emergency); Added at 10 Ok Reg 3551, eff 7-15-93