OK HB4426

Extends the Strategic Industrial Development Enhancement (SIDE) tax credit program expiration date from December 31, 2027 to December 31, 2032

Credit equals up to 10% of qualified economic development expenditures (capped at $6 million per project) and 50% of qualified initial infrastructure expenditures (capped at $3 million per project), with a combined maximum of $6 million per project

Eligible projects must be located in counties with populations under 100,000, in industrial parks, economic development zones, ports, or adjacent to Class II or III railroads

Total credits allocated by the Oklahoma Department of Commerce cannot exceed $12 million per tax year, with unused credits carrying forward for five subsequent years

Credits may be assigned to qualifying project affiliates including customers, vendors, investors, or finance partners within five years of earning the credit