SB 1329 Summary

• Amends the Small Employer Quality Jobs Incentive Act by modifying the definition of "establishment" to remove geographic restrictions based on county population limits and "opportunity zone" requirements.

• Removes the requirement that establishments be located in counties with populations of 200,000 or fewer persons or in opportunity zones to qualify for the incentive program.

• Retains an exception for research and development and testing laboratory businesses (NAICS codes 541710 and 541380), which remain eligible regardless of location.

• Makes the Oklahoma Department of Commerce solely responsible for determining whether certain business activities qualify as basic industry, rather than requiring approval from an Incentive Approval Committee.

• Takes effect November 1, 2014.