A. 1. There is hereby created until July 1, 2045, an ROA-25 investment rebate program for the cost of qualified capital expenditures by establishments which create not less than a threshold number of new direct jobs as provided in this section. 2. The threshold number of new direct jobs required for establishments to qualify and remain qualified for investment rebate payments created in paragraph 1 of this subsection shall be seven hundred (700) new direct jobs in year one of the rebate payment period, with a threshold number of one thousand (1,000) beginning in year two and throughout the remainder of the rebate payment period. B. The ROA-25 investment rebate program shall be administered by the Oklahoma Department of Commerce. C. No later than October 1 of each year, the Oklahoma Department of Commerce shall submit electronically an annual report to the Speaker of the Oklahoma House of Representatives, the President Pro Tempore of the Oklahoma State Senate, the Chair of the Appropriations and Budget Committee of the Oklahoma House of Representatives, the Chair of the Appropriations Committee of the Oklahoma State Senate, and the Executive Director of the Legislative Office of Fiscal Transparency detailing the program and ROA-25 investment rebate payments. D. The Oklahoma Department of Commerce and the State Treasurer may promulgate rules to implement the provisions of this act. E. To be eligible for consideration for an ROA-25 investment rebate payment awarded under the provisions of this act, a primary establishment shall: 1. a. Submit an application and documentation to the Oklahoma Department of Commerce, as required by the Department: (1) outlining a capital expenditure plan in this state associated with qualified capital expenditures totaling no less than Two Billion Dollars ($2,000,000,000.00), and (2) outlining new job creation levels no less than seven hundred (700) new jobs, and b. Establishment primarily engaged under Industry Sector Nos. 31 through 33 of the NAICS Manual, latest revision; 2. Be otherwise qualified to receive payments pursuant to the provisions of the Oklahoma Quality Jobs Program Act created pursuant to Section 3601 of Title 68 of the Oklahoma Statutes; and 3. Have filed all Oklahoma tax returns and tax documents required by law. F. 1. Notwithstanding any other provision of law, if a primary establishment receives an ROA-25 investment rebate payment pursuant to the provisions of this act, neither the qualified establishment nor its subsidiaries shall be eligible to receive quarterly incentive payments provided for in Section 3601 et seq. of Title 68 of the Oklahoma Statutes, in connection with the project or development for which the investment rebate payment was based. 2. Notwithstanding any other provision of law, no investment expenditure shall be utilized for calculation purposes in a way that results in the qualification of more than one establishment under the provisions of this act, for ROA-25 investment rebate payments based on the same expenditure. G. 1. Except as limited by paragraph 2 of this subsection, the Oklahoma Department of Commerce shall approve or disapprove claims for rebates and issue ROA-25 investment rebate payments for all approved claims from funds held in the ROA-25 Beneficiary Revolving Fund created pursuant to Section 5 of this act and subject to the limitations set forth in Section 4 of this act. 2. The Department shall disapprove all applications and claims, as well as portions of applications and claims, for rebates that would exceed the anticipated accumulation of available funds in the ROA-25 Beneficiary Revolving Fund.
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