2015 Oklahoma Statutes
Title 68. Revenue and Taxation
§68-2902.4. Manufacturers of pulp, paper, tissue and paper board - Ad valorem exemption.

Pursuant to Section 6B of Article X of the Oklahoma Constitution, effective for ad valorem exemptions for qualifying manufacturing concerns beginning January 1, 2007, a facility engaged in pulp, paper, tissue and paper board manufacturing, as described by the 2002 North American Industry Classification System, No. 3221, shall be granted an ad valorem exemption only if one of the following requirements is met:

1. An investment of Two Million Dollars ($2,000,000.00) or more in capital improvements at the facility while maintaining an average weekly wage per employee that is at least one hundred fifty percent (150%) of the Oklahoma average weekly wage as published by the Oklahoma Employment Security Commission in the Quarterly Census of Employment and Wages. The last four quarters available and published by the Oklahoma Employment Security Commission shall be used to calculate the Oklahoma average weekly wage; or

2. An investment of Five Million Dollars ($5,000,000.00) or more in capital improvements at the facility in the initial year of the exemption with an investment of at least Five Million Dollars ($5,000,000.00) in each of the four (4) years following the initial year for which the exemption was granted.

Added by Laws 2006, 2nd Ex. Sess., c. 44, § 12, eff. Jan. 1, 2007.