Title 74 — Title 74 — State Government

Conflicts of interest - Liability. A. The position of president of the Oklahoma Center for the Advancement of Science and Technology is hereby reconstituted as the executive director for the Oklahoma Science and Technology Research and Development Board. The president of the Cent…

The Oklahoma Science and Technology Research and Development Board shall develop an annual business plan and a five-year strategic plan for the Center and the Institute. Added by Laws 1987, c. 222, § 23, operative July 1, 1987. Amended by Laws 2002, c. 484, § 8, eff. July 1, 2002…

Development Board - Tax exemptions - Administrative policies. A. The Oklahoma Science and Technology Research and Development Board shall have the power to: 1. Make, amend and repeal bylaws for the management of the Center; 2. Sue and be sued; 3. Make contracts and execute all in…

§74-5060.9a-1. Renumbered as § 1-554 of Title 63 by Laws 1998, c. 210, § 9, eff. July 1, 1998.

210, § 9, eff. July 1, 1998.

210, § 9, eff. July 1, 1998.

74 O.S. § 5060.9d Repealed by Laws 1998, c. 210, § 8, eff. July 1, 1998

210, § 9, eff. July 1, 1998.

74 O.S. § 5061.1 Repealed by Laws 1991, c. 188, § 15, eff. July 1, 1991

1991.

1991.

74 O.S. § 5061.2 Repealed by Laws 1991, c. 188, § 15, eff. July 1, 1991

74 O.S. § 5061.3 Repealed by Laws 1991, c. 188, § 15, eff. July 1, 1991

74 O.S. § 5061.4 Repealed by Laws 1991, c. 188, § 15, eff. July 1, 1991

74 O.S. § 5061.5 Repealed by Laws 1991, c. 188, § 15, eff. July 1, 1991

74 O.S. § 5061.6 Repealed by Laws 1991, c. 188, § 15, eff. July 1, 1991

188, § 16, eff. July 1, 1991.

74 O.S. § 5061.8 Repealed by Laws 1991, c. 188, § 15, eff. July 1, 1991

74 O.S. § 5061.9 Repealed by Laws 1991, c. 188, § 15, eff. July 1, 1991

Sections 50 through 70 of this act shall be known and may be cited as the "Oklahoma Development Finance Authority Act". Added by Laws 1987, c. 222, § 49, operative July 1, 1987.

A. The Authority shall have the power and is hereby authorized to borrow money and to issue its bonds in such principal amounts as the Authority determines shall be necessary to provide sufficient funds for: (a) the providing of financing for all or any part of any projects of th…

The bonds authorized pursuant to the Oklahoma Development Finance Authority Act and the income therefrom, whether or not the interest on which is subject to federal income taxation, shall be exempt from all taxation in this state except for inheritance, estate or transfer taxes; …

The Oklahoma Development Finance Authority is authorized to create an insurance fund consisting solely of funds deposited pursuant to Section 81 of this act. Said insurance fund shall be held in the custody of one or more banks or trust companies having a principal place of busin…

Finance Authority. The bonds, debentures, notes or other evidence of indebtedness of the Oklahoma Development Finance Authority are hereby made securities in which all public officers and bodies of this state, all municipalities and municipal subdivisions, all insurance companies…

The Oklahoma Development Finance Authority shall be and is hereby exempt from all franchise, corporate, business and other taxes of any nature levied by the state, provided that nothing herein shall be construed to exempt from such taxes any person receiving financing assistance …

bond owners. The State of Oklahoma does hereby pledge to and agree with the owners of any bonds issued under this act that the state will not limit or alter the rights hereby vested in the Authority to fulfill the terms of any agreements made with the owners thereof or in any way…

in gross income. The Authority may covenant and consent that the interest on certain of its bonds shall be includable under the Internal Revenue Code of 1986, as amended, or any subsequent corresponding internal revenue law of the United States in the gross income of the owners t…

This act shall be liberally construed. Nothing contained herein is or shall be construed as a restriction or limitation upon any powers which the Authority might otherwise have under any other law of this state heretofore or hereafter enacted, and the provisions of this act are c…

compete with bonds of certain state agencies. Notwithstanding any provision herein to the contrary, the Oklahoma Development Finance Authority shall not participate in financing programs nor issue bonds which compete with or are similar in nature to those obligations authorized f…

G.A.O. auditing standards. A. Within sixty (60) days after the end of each fiscal year, the Oklahoma Development Finance Authority shall, in its annual report, account for: 1. The manner in which the purpose as described in Section 5062.1 et seq. of this title has been carried ou…

Authority created - Status A. Lack of response in this state to fundamental changes in national and international markets has created an economic hardship as manifested by high levels of unemployment and bankruptcy. Structural changes in global capital markets and real goods mark…

- Recommendations. The Oklahoma Development Finance Authority shall publish and present an annual report to the Governor, the Speaker of the House of Representatives, the President Pro Tempore of the Senate, and Oklahoma Futures, setting forth in detail the operations and transac…

Seven (7) years after the Oklahoma Development Finance Authority has begun operations, Oklahoma Futures shall review, analyze and evaluate the extent to which the Authority has achieved its statutory need and mission. The evaluation shall include, but not be limited to, an examin…

agencies. All officers, departments, boards, agencies, divisions, and commissions of this state including, but not limited to, the Oklahoma Department of Commerce, the State Department of Health, the Department of Transportation, the Oklahoma Securities Commission and the Office …

Public policy. A. The mission of the Oklahoma Development Finance Authority shall be to take into account and develop its policies based upon the following findings: 1. Fundamental changes have occurred in national and international markets for goods and services produced by the …

Sections 2 through 8 of this act shall be known and may be cited as the “Military Base Protection and Expansion Incentive Act”. Added by Laws 2007, c. 349, § 2, emerg. eff. June 4, 2007.

The Legislature finds: 1. It is in the best interest of the State of Oklahoma to ensure the continued location and expansion of established military bases and facilities in this state; 2. Growth to political subdivisions as a result of the presence and expansion of military bases…

As used in the Military Base Protection and Expansion Incentive Act: 1. “Authority” means the Oklahoma Development Finance Authority; 2. “Capital project” means the acquisition, construction, expansion, replacement, or renovation of a municipal, county or school district facility…

There is hereby created a loan program, the purpose of which is to protect and retain established military bases and facilities and to support additional and expanded employment at such bases and facilities. The program shall provide funding to qualified issuers to finance capita…

bonds - Titles and Liens - Deferrals. A. When a qualified issuer that is or will be impacted by growth at a military installation, proposes to acquire or construct a capital project, the Oklahoma Development Finance Authority may serve as conduit issuer for the capital project in…

A. It is the intent of the Legislature to appropriate monies to the Oklahoma Department of Commerce in a total amount not to exceed Five Million Dollars ($5,000,000.00) per year for the purpose of funding interest payments of obligations issued by the Authority pursuant to this a…

Separate accounts. A. There is hereby created within the State Treasury a special fund for the Department of Commerce to be designated as the “Military Base Protection and Expansion Bond Fund”. All monies deposited into the fund shall be used and expended by the Department solely…

plan. The Oklahoma Development Finance Authority shall exercise the powers granted to it in a manner consistent with each five-year plan developed by Oklahoma Futures for the activities and programs of the Authority. The Oklahoma Development Finance Authority shall submit a propo…

As used in the Oklahoma Development Finance Authority Act: 1. "Authority" means the Oklahoma Development Finance Authority; 2. "Agricultural enterprise" means facilities for farms, ranches, other agricultural, silvicultural or aquacultural commodity operations, and related busine…

Industrial Finance Authority. A. Upon certification by the Governor of a public trust as qualifying to become the Oklahoma Development Finance Authority, the board of trustees of such trust shall become the governing board of the Oklahoma Development Finance Authority with the ad…

Creation - Membership - Meetings - Personal interest in contracts - Personal liability - Duties. A. There is hereby created the Program Development and Credit Review Committee within the Oklahoma Development Finance Authority. The committee shall be composed of three (3) members …

A. The board of directors of the Oklahoma Development Finance Authority shall appoint a president who shall direct and supervise the administrative affairs and the general management of the Authority. The board shall establish criteria for selecting the president taking into cons…

OS 74-5062.8v1 (SB 1050, Laws 2021, c. 204, § 13). OS 74-5062.8v2 (SB 1049, Laws 2021, c. 203, § 12).

74 O.S. § 5062.8a Repealed by Laws 2019, c. 320, § 5

The Oklahoma Development Finance Authority is hereby granted, has and may exercise all powers necessary or appropriate to carry out and effectuate its corporate purposes including, without limiting the generality thereof, the following: 1. To adopt, amend and repeal rules and reg…