Okla. Admin. Code § 150:175-1-3

Current through Vol. 42, No. 7, December 16, 2024

Section 150:175-1-3 - Eligibility requirements

(a) Eligible projects: Projects are economic development infrastructure design, development, and construction that supports sites or surrounding communities in the creation of nationally marketable industrial sites. The PREP applicant must:

(1) Be located in Oklahoma;

(2) Agreeing to enter into a written agreement with the Department;

(3) Be in compliance with applicable Oklahoma and federal tax laws; and

(4) If applicant is awarded PREP funds, register as a state supplier via the Oklahoma Management and Enterprise Services (OMES). This step is not required until the applicant has been given a tentative award notification from the Department.

(b) Ineligible projects: A project as defined in these rules and the following requirements must be met or the projects are ineligible for PREP:

(1) The Department shall distribute such funds evenly amongst the congressional districts of the state so as to provide statewide economic impact;

(2) Applicants or Projects that do not meet the definition of "eligible project"; and

(3) Applicants or Projects the Department deems as not creating a feasibly marketable site in compliance with the intent of the legislative funding.

Okla. Admin. Code § 150:175-1-3

Adopted by Oklahoma Register, Volume 40, Issue 14, April 3, 2023, eff. 2/27/2023 (emergency)

Adopted by Oklahoma Register, Volume 41, Issue 22, August 1, 2024, eff. 8/12/2024