HB 2182 Summary

• Establishes the Incentive Evaluation Act and creates an Incentive Evaluation Commission composed of a certified public accountant, economist, auditor, lay person, and representatives from the Oklahoma Tax Commission, Department of Commerce, and Office of Management and Enterprise Services.

• Requires the Commission to evaluate all state tax credits, tax exemptions, tax deductions, rebates, grants, and loans intended to encourage business activity at least once every four years, prioritizing incentives with the highest fiscal impact.

• Mandates the Commission develop a four-year evaluation schedule by January 1 each year and submit reports with findings to the Governor and legislative leadership by December 15 annually.

• Specifies each evaluation must assess economic and fiscal impact, adequacy of fiscal protections, effective administration, goal achievement, and provide recommendations on whether to retain, reconfigure, or repeal the incentive.

• Effective November 1, 2015; allows the Commission to contract with private entities for evaluations and requires state agencies to provide necessary data while protecting confidentiality of information.