Oklahoma Administrative Code
Title 710 - Oklahoma Tax Commission
Chapter 45 - Gross Production
Subchapter 9 - Exemptions and Exclusions
Part 23 - SECONDARY AND TERTIARY RECOVERY PROJECTS
Section 710:45-9-114 - Refund procedure

(a) Issuance of refund. Upon certification by the Tax Commission, a refund of the gross production taxes paid in the previous fiscal year for the secondary and tertiary recovery projects shall be issued to the well operator or a designee after the eighteen (18) month refund claim period has concluded.

(b) Limitation of refund. Beginning with fiscal year 2023, and each subsequent year thereafter, the Tax Commission is authorized to issue up to Fifteen Million Dollars ($15,000,000) in secondary and tertiary recovery project refunds combined for each eligible fiscal year. No entity, including subsidiaries of the entity, shall be authorized to receive refunds claimed pursuant to this exemption that exceed twenty percent (20%) of the cap. If the total number of claims for an eligible fiscal year exceed the refund cap then all approved refunds will be issued at the refund payout rate.

(c) Refund payout rate. The formula to be used for the percentage adjustment shall be Fifteen Million Dollars ($15,000,000) divided by the amount of approved refund claims. For example, if the total amount of refund claims for calendar year 2022 was Thirty Million Dollars ($30,000,000), the amount of each refund would be reduced by 50%.

(d) Assignment of a designee. If the refund is to be issued to a party other than the recognized operator, a notarized affidavit signed by the operator must be submitted to the Tax Commission authorizing the designee to receive the refund.