SB 573
Small business incubators; requiring submission of certain information to the Oklahoma Commerce Department to qualify for certain income tax exemption. Effective date.
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill establishes a process for small business incubators in Oklahoma to qualify for an income tax exemption. To receive this exemption, incubators must submit specific information to the Oklahoma Commerce Department, demonstrating they meet certain criteria related to supporting and nurturing new businesses. The bill also sets an effective date for the new requirements and exemptions. This legislation aims to encourage the growth of small businesses within Oklahoma by providing financial incentives.
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