Okla. Admin. Code § 150:65-13-6

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

Section 150:65-13-6 - Incentive contract

(a) After an incentive contract is recommended by the Department, the contract will be prepared for the Director's review and signature. The signed document will then be forwarded to the proxy establishment. The tendered contract may be accepted by the proxy establishment within sixty (60) days of the date of signing by the Director, unless the Director extends this period at the establishment's request.

(b) The incentive contract will be on a form prescribed by the Department which includes all of the following information:

(1) The net benefit rate which will be multiplied by verified gross quarterly payroll of the Remote Workers to determine the amount of quarterly payments;

(2) The maximum amount of benefit payments available, which is the lesser amount of the cumulative payments to be made by the proxy establishment to Remote Workers or the estimated net direct state benefits under the contract;

(3) The project's Approval Date;

(4) The project's Start Date;

(5) The projected number of new direct jobs;

(6) The average annual wage of new direct jobs;

(7) Any other information the Department deems necessary to carry out the provisions of the statute.

(c) The original incentive contract, signed by the chief executive officer or authorized representative, may be returned to the Department by any means acceptable to the Department.

Okla. Admin. Code § 150:65-13-6

Adopted by Oklahoma Register, Volume 38, Issue 23, August 16, 2021, eff. 7/19/2021

Adopted by Oklahoma Register, Volume 39, Issue 24, September 1, 2022, eff. 9/11/2022