Title 74, Title 74 — State Government

Sections 1 through 4 of this act shall be known and may be cited as the "Oklahoma Beginning Agricultural Producer Pool Act". Added by Laws 1993, c. 233, § 1, eff. July 1, 1993.

The Oklahoma Development Finance Authority shall establish, develop criteria for and implement a program for participation in the Beginning Agricultural Producer Pool provided for in Section 695.24 of Title 62 of the Oklahoma Statutes. Added by Laws 1993, c. 233, § 2, eff. July 1…

To be eligible for the Beginning Agricultural Producer Pool provided for in Section 695.24 of Title 62 of the Oklahoma Statutes, a borrower must: 1. Be a resident of Oklahoma; 2. Be, or one of the borrowers must be, the principal operator of the farm; 3. Have sufficient education…

Interagency agreements. A. The Department of Agriculture shall provide for the publication and statewide distribution to the public of information regarding the Beginning Agricultural Producer Pool Program provided for in Section 2 of this act. B. The Department of Agriculture an…

Management, administration and utilization - Legislative intent. A. There is hereby created a fund to be known as the Credit Enhancement Reserve Fund. The Fund shall be managed, administered and utilized by the Oklahoma Development Finance Authority in accordance with the provisi…

Rules and regulations for administration. A. The Fund shall be employed by the Oklahoma Development Finance Authority solely to secure the payment of principal, interest and premium, if any, on the revenue bonds and other financial obligations issued by the Authority pursuant to …

A. Credit enhancement granted by the Oklahoma Development Finance Authority shall be categorized by use as portfolio mix categories as follows: 1. Industrial, agribusiness, and other private activity; 2. Infrastructure and other publicly owned facilities of governmental entities;…

Requirements. There is hereby created the Small Business Credit Enhancement Program. Twenty-five percent (25%) of the amount allocated to the industrial, agribusiness, and other private activity portfolio mix category pursuant to Section 9 of this act shall be used for the Small …

Except as otherwise provided in Section 6 of this act, at the time of loan origination, the Oklahoma Development Finance Authority shall require such security from the applicant as it deems necessary in the circumstances of the insurance commitment. Except for the infrastructure …

A. At the time of the Authority's issuance of credit enhancement on its revenue bonds or other obligations, the principal amount of the underlying loan for industrial, agribusiness, and other private activity portfolio mix category and health care and other nonprofit-owned facili…

In addition to its other powers and except as applied to Section 5063.4d of this title, the Oklahoma Development Finance Authority may select a coinsurer to insure a percentage of each loan in a pool or in the portfolio of loans for which Credit Enhancement Reserve Fund-backed bo…

The Oklahoma Development Finance Authority may grant credit enhancement to the funding of reserve fund backed loan guarantee programs in accordance with criteria and standards established by the Authority pursuant to rules. Private financial institutions to which credit enhanceme…

Enhancement Reserve Fund applications - Validation. The provisions of Section 5062.6a, subsection B of Section 5063.3 and Sections 5063.4a through 5063.4f of this title shall not apply to Credit Enhancement Reserve Fund applications approved by the Bond Oversight Commissions prio…

To establish a debt-service reserve for those revenue bonds approved for Credit Enhancement Reserve Fund insurance by the Bond Oversight Commissions prior to June 9, 1990, the Oklahoma Development Finance Authority may increase the amounts of credit enhancement, the revenue bonds…

Forty percent (40%) of the amount authorized pursuant to Section 5063.11 of this title is hereby allocated and may be used for the Quality Jobs Investment Program pursuant to Section 5 of this act. Added by Laws 1993, c. 275, § 44, eff. July 1, 1994. Amended by Laws 1994, c. 285,…

The monies and other assets designated by the board of directors as being deposited to the Fund shall be maintained in accounts separated from all other monies and assets of the Oklahoma Development Finance Authority, and shall be accounted for separately in the financial stateme…

The board of directors may annually designate for deposit to the Fund such portion of the fees and other revenues received by the Oklahoma Development Finance Authority as are not committed for support of programs or operating expenses of the Authority, and are not obligated or r…

into Fund. The board of directors shall have the power to designate for deposit to the Fund such portion as it deems appropriate of any gifts, grants, loans or other aid made available to the Oklahoma Development Finance Authority by the federal government, the state or any state…

The board of directors shall designate for deposit to the Credit Enhancement Reserve Fund the net proceeds of any general obligation bonds issued by the Oklahoma Development Finance Authority pursuant to Section 5063.11 of this title. The board of directors shall by resolution or…

All interest and other earnings generated by the investment of the monies and other assets of the Fund shall remain a part of the Fund, except for that portion of such interest and other earnings as may be payable to a private investment manager or investment advisor pursuant to …

This act shall be known and may be cited as the "Inventors Assistance Act". Added by Laws 1987, c. 121, § 1, eff. Nov. 1, 1987.

The Legislature recognizes the numerous benefits to the state's economic base from the establishment of businesses by inventors and the numerous benefits provided by inventors which include industrial diversification, broadening of the economic base, a great proliferation of jobs…

As used in Section 5064.1 et seq. of this title: 1. "Commercial stage" means the point at which the product has advanced beyond the theoretical and prototype stage and is capable of being manufactured or reduced to practice commercially; 2. "Inventor" means any person who perceiv…

A. The Oklahoma Department of Commerce shall establish a program to provide assistance to inventors. On July 1, 1998, all powers, duties, responsibilities, files, and records relating to the inventors assistance program shall be transferred to the Oklahoma Center for the Advancem…

The Oklahoma Center for the Advancement of Science and Technology (OCAST) shall have the power to: 1. Enter into contracts on a competitive bid basis with public and private agencies, institutions, organizations and individuals for the purpose of providing assistance to and servi…

A. The Oklahoma Center for the Advancement of Science and Technology (OCAST) shall charge a filing fee of One Hundred Dollars ($100.00) for each proposal submitted for review and evaluation. B. After review and evaluation, proposals shall be accepted or rejected for development u…

A. The following incentives shall be available to inventors for products developed and manufactured in this state and to instate manufacturers of said products; provided, to qualify for the incentives, the product shall be patented or have patent pending pursuant to federal law a…

A. There is hereby created in the State Treasury a separate revolving fund for the Oklahoma Department of Commerce, to be designated the "Inventors and Entrepreneurs Program Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of a…

The President of the Oklahoma Center for the Advancement of Science and Technology (OCAST) shall include in OCAST's annual report on program outcomes program information including: 1. The number of seminars and training programs held for inventors and entrepreneurs and the number…

This act shall be known and may be cited as the "Product Development Act". Added by Laws 1992, c. 246, § 2, emerg. eff. May 21, 1992.

As used in this act: 1. "Commercial stage" means the point at which the product has advanced beyond the theoretical and prototype stage and is capable of being manufactured or reduced to practice commercially; 2. "Intellectual property" means a patent, patent pending, trademark, …

The Oklahoma Department of Commerce shall establish a program to provide product development assistance to Oklahoma manufacturing and marketing businesses. The program shall: 1. Identify, characterize and catalogue Oklahoma businesses interested in and committed to expansion by c…

The Oklahoma Department of Commerce shall have the authority to: 1. Enter into contracts with public and private agencies, institutions, organizations and individuals for the purpose of providing assistance to and services for Oklahoma manufacturing and marketing firms as require…

The Oklahoma Department of Commerce may enter into an agreement with a potential licensor to receive a fee not to exceed an amount equal to twenty percent (20%) of all royalties from any product commercialized under the product development program for the life of the license. Add…

There is hereby created in the State Treasury a separate revolving fund for the Oklahoma Department of Commerce to be designated as the "Product Development Program Fund". The fund shall be a continuing fund, not subject to fiscal year limitations and shall consist of all monies …

The Director of the Oklahoma Department of Commerce shall submit an annual report on or before December 31 of each year to the Governor and the Oklahoma State Legislature which shall include but not be limited to: 1. The number of products and description thereof of products deve…

This act shall be known and may be cited as the "Small Business Incubators Incentives Act". Added by Laws 1987, c. 228, § 1, eff. Jan. 1, 1988.

The purpose of the Small Business Incubators Incentives Act shall be to promote, encourage and advance economic prosperity and employment throughout the state by creating a more favorable tax climate for tenants of small business incubators in this state. Added by Laws 1987, c. 2…

As used in this act: 1. "Director" means the Director of the Oklahoma Department of Commerce; 2. "Incubator" means a facility in which small units of space may be leased by a tenant and in which management maintains or provides access to business development services for use by t…

The Director of the Oklahoma Department of Commerce shall have the power and authority to carry out the following functions: 1. Solicit support and participation of public and private agencies, universities and other institutions for the purposes of establishing and operating inc…

A. For tax years ending before January 1, 2020, income earned by a sponsor from rental fees, service fees or any other form of payment for services provided to a tenant as an operator of an incubator, or for providing funding for such a facility, shall be exempt from state income…

A. Any company or association proposing to qualify as a sponsor under this act shall file an application with the Director of the Oklahoma Department of Commerce for approval. The application shall contain such information as the Director may by regulation require, and shall spec…

enterprises as tenants. A. A sponsor shall have the following responsibilities and duties in establishing and operating an incubator: 1. Securing title to the facility or a lease with a sufficient length of term or other security, deemed sufficient by the Director of the Oklahoma…

A. For a period of up to ten (10) years from the date of tenant’s occupancy in an incubator, income earned by the tenant as a result of activities conducted as an occupant in an incubator, including income distributed to partners, shareholders of a corporation for which a Subchap…

On or before December 31 of each year, the Director of the Oklahoma Department of Commerce shall provide a report to both the Speaker of the House of Representatives and the President Pro Tempore of the Senate which shall include, but not be limited to: 1. The number of applicati…

Sections 5085.1 through 5085.12 of this title and Section 37 of this act shall be known and may be cited as the "Oklahoma Capital Formation Act". Added by Laws 1991, c. 188, § 1, eff. July 1, 1991. Amended by Laws 1993, c. 275, § 36, eff. July 1, 1994.

Notwithstanding other provisions of law, the Oklahoma Science and Technology Research and Development Board or any entity designated by the Board, shall have the authority to expend funds to administer and operate the programs of the Board. Added by Laws 1991, c. 188, § 10, eff. …

A. There is hereby created in the State Treasury a revolving fund for the Oklahoma Center for the Advancement of Science and Technology to be designated the “Oklahoma Capital Formation Revolving Fund”. The fund shall be a continuing fund, not subject to fiscal year limitations, a…

Nothing contained herein is or shall be construed as a restriction or limitation upon any powers which the Oklahoma Science and Technology Research and Development Board might otherwise have under any other law of this state heretofore or hereafter enacted and the provisions of t…

and administrative measures - Enforceability of guarantees of Board unaffected. A. The Oklahoma Science and Technology Research and Development Board may adopt rules, policies, procedures, and regulatory and administrative measures necessary to administer the programs of the Boar…