In addition to those terms defined elsewhere in this chapter,
and the terms defined in 68 O.S. § 2357.105, the following words and terms
when used in this subchapter shall have the following meaning unless the
context clearly indicates otherwise.
"Economic development organization" means an
organization acting to promote economic development and can act as a project
sponsor. These include but are not limited to, Chambers of Commerce, Regional
Economic Development entities, and Main Street organizations. All economic
development organizations must be organized under Section 501(c)(3) of the
Internal Revenue Code, 26 U.S.C..
"Economic development zone" means any zone,
including Enterprise Zones, state and federal Opportunity Zones, identified for
economic development.
"Eligible entity" means an incorporated business
entity that is located in the state with a qualifying project in a qualifying
project location that receives an allocation of tax credits for qualified
economic development and qualified initial infrastructure expenditures. The
business entity must be incorporated in any state but must be located in the
state to satisfy this definition.
"Qualified industrial park" means an industrial
park in counties with less than 100,000 people which is owned, managed, or
operated by cities, independent entities, or economic development authorities.
A city or economic development authority that owns, manages, or operates the
industrial park may also apply on behalf of the industrial park as the project
sponsor.
Notes
Okla. Admin. Code §
150:170-1-2
Adopted by
Oklahoma
Register, Volume 40, Issue 22, August 1, 2023, eff.
8/11/2023
