OK SB1464

Amends 68 O.S. 2011, Section 3603 to modify definitions in the Oklahoma Quality Jobs Program Act, including changes to what qualifies as a "basic industry."

Adds crude petroleum and natural gas extraction (NAICS Industry Group 2111 or 213111) as a qualifying basic industry activity, subject to specified limitations.

Modifies definition of "new direct job" for oil and gas establishments to include only jobs directly related to corporate headquarters, manufacturing, maintenance, administrative, financial, engineering, surveying, geological or geophysical services, explicitly excluding drilling and field services employment.

Establishes requirements for establishments resulting from change in control events, including mandatory maintenance of contracted wage levels (125% of average county wage) and contracted job numbers, with penalties for non-compliance including repayment of all incentive payments if operations cease within three years.

Creates the Incentive Approval Committee to determine basic industry qualification and review applications, with membership including the Director of Office of State Finance, Department of Commerce Director, and Oklahoma Tax Commission representative.