OK HB2753

Amends the Oklahoma Rural Jobs Act to establish separate $15 million annual caps on state tax credits: one cap for applications approved before the act's effective date and another $15 million cap for applications approved on or after the effective date

Rural funds that received certification under pre-existing applications remain eligible to apply for new certifications under the expanded program

Rural funds must issue capital investments and receive cash within 90 days of certification notice, with at least 10% of the investment coming from directors, members, employees, officers, or affiliates of the rural investor

Certifications that lapse due to failure to meet the 90-day deadline revert to the Department and are redistributed pro rata to applicants whose allocations were previously reduced

Passed both chambers of the Oklahoma Legislature on May 28, 2025