reglab/housing_qa huggingface dataset:
74 OK Stat § 74-5063.13 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5063.13. Resolution of board of directors - Trust indentures.

|A. All bonds issued hereunder shall be authorized by resolution of the board of directors. Each such resolution shall contain such terms, covenants and conditions applicable to the bonds as are deemed desirable. All bonds issued under this act shall be on a parity as to security. The resolution of the board may provide for the execution and delivery by the Oklahoma Development Finance Authority of a trust indenture or trust indentures, with a bank or banks located within or without the state, containing any of the terms, covenants and conditions referred to above, which trust indenture or trust indentures shall be binding upon the state, and its officers and officials, to the extent set forth in this act. |B. Any resolution or trust indenture adopted or executed under this section shall provide that power is reserved to apply to the payment of debt service on the bonds issued or secured thereunder all or any part of the Authority's revenues, from whatever source derived, and, to the extent of such revenues, to release from any requirement of such resolution or trust indenture other revenues and resources of the state including without limitation, the general revenue funds required to be appropriated pursuant to this act.Added by Laws 1987, c. 222, § 83, operative July 1, 1987.
74 OK Stat § 74-5063.14 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5063.14. Signing bond - Seal - Delivery.

|Each bond shall be signed by the facsimile signatures of the chairman of the board of directors of the Oklahoma Development Finance Authority and the Secretary of the board of the Authority, and shall have affixed or imprinted thereon the seal of the Authority. Delivery of the bonds so executed shall be valid, notwithstanding any change in persons holding such offices occurring after the bonds have been executed. |Added by Laws 1987, c. 222, § 84, operative July 1, 1987.
74 OK Stat § 74-5063.15 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5063.15. Sale of bonds - Fiscal agents and legal counsel.

|Bonds at any time sold under the provisions of Section 5063.1 et seq. of this title shall be sold in the manner prescribed in Section 5063.12 of this title. The Authority may employ, if it determines that such action is desirable, fiscal agents and legal counsel and may pay them reasonable compensation out of the proceeds of the bonds subject to the review and approval of the State Bond Advisor in the same manner as provided for approval of similar expenditures made by the Authority. |Added by Laws 1987, c. 222, § 85, operative July 1, 1987. Amended by Laws 1989, c. 374, § 13, emerg. eff. June 6, 1989.
74 OK Stat § 74-5063.16 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5063.16. Bonds as general obilgation of state.

|All bonds issued pursuant to the Credit Enhancement Reserve Fund Act shall be direct general obligations of the State of Oklahoma, for the payment for the debt service on which the full faith and credit of the State of Oklahoma are hereby irrevocably pledged so long as any such bonds are outstanding. The bonds shall be payable from the General Revenue Fund of this state, and such amount of general revenue funds as is necessary is hereby pledged to the payment of debt service on the bonds, and shall be and remain pledged for such purposes. |Added by Laws 1987, c. 222, § 86, operative July 1, 1987.
74 OK Stat § 74-5063.17 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5063.17. Debt service - Appropriations - Reserve funds.

|A. Before the commencement of each legislative session, the Director of the Office of Management and Enterprise Services shall determine the estimated amount required during the next fiscal year for payment of the debt service on the bonds issued under this act, after making deductions therefrom of estimated monies to be available to the Fund from other sources therefor, and shall certify such estimated amount to the Governor. The Governor shall thereupon promptly prepare and submit to the Legislature his request for an appropriation to meet the debt service on the bonds during such fiscal year. The Legislature shall appropriate funds and provide for timely payment of the maturing debt service of bonds issued under this act. |B. The Authority shall have the power to establish and maintain reserve funds to provide for payment of debt service on the bonds. Monies credited to the reserve funds shall be used only for the purpose of paying debt service on the bonds, either at maturity or on redemption prior to maturity. The reserve funds shall be held and used to ensure prompt payment of debt service on the bonds in such manner and pursuant to such conditions as may be specified by the Authority in the resolution or trust indenture authorizing or securing such bonds. Monies in the reserve funds over and above the amounts necessary to ensure the prompt payment of debt service on the bonds, and the establishment and maintenance of a reserve fund, may be used for the redemption of bonds prior to maturity in the manner and in accordance with the provisions pertaining to redemption prior to maturity, as set forth in the resolution or trust indenture authorizing or securing such bonds.Added by Laws 1987, c. 222, § 87, operative July 1, 1987. Amended by Laws 2012, c. 304, § 1040.
74 OK Stat § 74-5063.18 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5063.18. State tax exemption.

|The bonds authorized pursuant to this act, and interest thereon, shall be exempt from all taxation in this state except for inheritance, estate or transfer taxes; and all security agreements and financing agreements made pursuant to the provisions of this act shall be exempt from Oklahoma stamp and transfer taxes. |Added by Laws 1987, c. 222, § 88, operative July 1, 1987.
74 OK Stat § 74-5063.19 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5063.19. Investment in securities of Oklahoma Development Finance Authority.

|The bonds issued pursuant to this act are hereby made securities in which all public officers and bodies of this state, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, trust companies, savings banks, savings associations, including savings and loan associations and building and loan associations, investment companies and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons whatsoever who are now or who may hereafter be authorized to invest in bonds or other obligations of this state may properly and legally invest funds including capital in their control or belonging to them. Notwithstanding any other provision of law, said bonds are also hereby made securities which may be deposited with and may be received by all public officers and bodies of this state and all municipalities and municipal subdivisions for any purpose for which the deposit of bonds or other obligations of this state are now or may hereafter be authorized. |Added by Laws 1987, c. 222, § 89, operative July 1, 1987.
74 OK Stat § 74-5063.21 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5063.21. Short title.

|Sections 1 through 4 of this act shall be known and may be cited as the "Oklahoma Beginning Agricultural Producer Pool Act". |Added by Laws 1993, c. 233, § 1, eff. July 1, 1993.
74 OK Stat § 74-5063.22 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5063.22. Beginning Agricultural Producer Pool Program.

|The Oklahoma Development Finance Authority shall establish, develop criteria for and implement a program for participation in the Beginning Agricultural Producer Pool provided for in Section 695.24 of Title 62 of the Oklahoma Statutes. |Added by Laws 1993, c. 233, § 2, eff. July 1, 1993.
74 OK Stat § 74-5063.23 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5063.23. Borrower eligibility criteria.

|To be eligible for the Beginning Agricultural Producer Pool provided for in Section 695.24 of Title 62 of the Oklahoma Statutes, a borrower must: |1. Be a resident of Oklahoma;2. Be, or one of the borrowers must be, the principal operator of the farm;3. Have sufficient education, training or experience in the type of farming for which the loan is desired;4. Have a total net worth, including total assets minus total liabilities of the borrower's spouse and dependents, of less than Two Hundred Thousand Dollars ($200,000.00) in 1992 and an amount in subsequent years determined by multiplying Two Hundred Thousand Dollars ($200,000.00) by the cumulative inflation rate in years subsequent to 1992 as determined by the United States All-Items Consumer Price Index;5. Demonstrate a need for the loan;6. Demonstrate an ability to repay the loan;7. Certify that the agricultural land to be purchased will be used by the borrower for agricultural purposes;8. Certify that farming will be the principal occupation of the borrower;9. Agree to participate in a farm management program approved by the Commissioner of Agriculture for at least the first five (5) years of the loan, if an approved program is available within forty-five (45) miles from the borrower's residence;10. Agree to file an approved soil and water conservation plan with the soil conservation service office in the county where the land is located;11. Agree that the original principal amount of funding pursuant to this act shall not exceed Two Hundred Fifty Thousand Dollars ($250,000.00); and12. Meet such other requirements as deemed necessary by the Oklahoma Development Finance Authority.Added by Laws 1993, c. 233, § 3, eff. July 1, 1993.
74 OK Stat § 74-5063.24 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5063.24. Publication and distribution of information - Interagency agreements.

|A. The Department of Agriculture shall provide for the publication and statewide distribution to the public of information regarding the Beginning Agricultural Producer Pool Program provided for in Section 2 of this act. |B. The Department of Agriculture and the Oklahoma Development Finance Authority may enter into interagency agreements necessary to implement the provisions of the Oklahoma Beginning Agricultural Producer Pool Act.Added by Laws 1993, c. 233, § 4, eff. July 1, 1993.
74 OK Stat § 74-5064.1 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5064.1. Short title.

|This act shall be known and may be cited as the "Inventors Assistance Act". |Added by Laws 1987, c. 121, § 1, eff. Nov. 1, 1987.
74 OK Stat § 74-5064.2 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5064.2. Legislative findings.

|The Legislature recognizes the numerous benefits to the state's economic base from the establishment of businesses by inventors and the numerous benefits provided by inventors which include industrial diversification, broadening of the economic base, a great proliferation of jobs, providing financial benefits to our citizens through a greatly expanded tax base and new products and processes for the nation's consumers. |It is estimated that ninety-five percent (95%) of all inventions are never authoritatively considered primarily because inventors are unfamiliar with the business environment or financial structure necessary for implementing their proposals.The Legislature therefore recognizes a need to encourage and assist inventors and, at the same time, to position this state as a leader in advanced and high technology and to foster a climate for those leaders of this state, the nation and the world.Added by Laws 1987, c. 121, § 2, eff. Nov. 1, 1987.
74 OK Stat § 74-5064.3 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5064.3. Definitions.

|As used in Section 5064.1 et seq. of this title: |1. "Commercial stage" means the point at which the product has advanced beyond the theoretical and prototype stage and is capable of being manufactured or reduced to practice commercially;2. "Inventor" means any person who perceives a new concept which may result in a product or patentable process;3. "Person" means any individual, sole proprietor, partnership or corporation;4. "Product" means any device, technique or process;5. "Proposal" means a plan provided by the inventor which includes technical and descriptive information on the concept; and6. "Royalties" means all things of value received by an inventor in connection with the licensing, rental or sale of a product patented, in patent pending, or trademarked pursuant to federal law.Added by Laws 1987, c. 121, § 3, eff. Nov. 1, 1987. Amended by Laws 1988, c. 313, § 2, emerg. eff. July 1, 1988.
74 OK Stat § 74-5064.4 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5064.4. Program - Establishment - Purposes.

|A. The Oklahoma Department of Commerce shall establish a program to provide assistance to inventors. On July 1, 1998, all powers, duties, responsibilities, files, and records relating to the inventors assistance program shall be transferred to the Oklahoma Center for the Advancement of Science and Technology (OCAST). |B. The program shall be designed to:1. Attract inventors from throughout this state, the nation and other countries and encourage them to submit their proposals for review and evaluation;2. Provide assistance to inventors whose proposals are accepted which shall include patent searches, market analysis, product research and development, assistance in obtaining financing, business counseling, and any other assistance necessary to develop the product to the commercial stage which is not prohibited by the Constitution or laws of this state and further to protect both the state and the inventor, this section would require a provisional patent application or patent application be on file with the U.S. Patent Office before the state will review proposal;3. Provide assistance and training to inventors to enable the manufacturing, marketing and distribution of their product;4. Direct inventors to the Inventors Development Society, the Oklahoma Inventors Congress, or other similar organizations for assistance; and5. Improve the entrepreneurial skills of the state's workforce in order to foster innovation, product development and new high quality jobs.Added by Laws 1987, c. 121, § 4, eff. Nov. 1, 1987. Amended by Laws 1994, c. 322, § 28, emerg. eff. June 8, 1994; Laws 1998, c. 250, § 1, eff. July 1, 1998.
74 OK Stat § 74-5064.5 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5064.5. Powers.

|The Oklahoma Center for the Advancement of Science and Technology (OCAST) shall have the power to: |1. Enter into contracts on a competitive bid basis with public and private agencies, institutions, organizations and individuals for the purpose of providing assistance to and services for inventors and entrepreneurs as required by Section 5064.1 et seq. of this title;2. Solicit the support and contributions of public and private agencies, organizations, institutions and individuals;3. Receive and administer funds for the purpose of operating the inventors and entrepreneurs program;4. Advertise and promote the inventors and entrepreneurs program;5. Collect reasonable fees based on actual direct and indirect costs for programmatic services extended to users of the inventors and entrepreneurs program; and6. Promulgate rules to implement the provisions of Section 5064.1 et seq. of this title.Added by Laws 1987, c. 121, § 5, eff. Nov. 1, 1987. Amended by Laws 1994, c. 322, § 29, emerg. eff. June 8, 1994; Laws 1998, c. 250, § 2, eff. July 1, 1998.
74 OK Stat § 74-5064.6 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5064.6. Proposals - Contracts.

|A. The Oklahoma Center for the Advancement of Science and Technology (OCAST) shall charge a filing fee of One Hundred Dollars ($100.00) for each proposal submitted for review and evaluation. |B. After review and evaluation, proposals shall be accepted or rejected for development under the inventors assistance program. OCAST shall not charge for any services to aid in the development of the product. Services may include patent searches, market analysis, product research and development, assistance in obtaining financing, including financing from private sources, and business counseling, if needed. Provided, OCAST shall receive a fee not to exceed an amount equal to ten percent (10%) of all royalties from any product developed under the inventors assistance program for a period of ten (10) years from the first day after royalties are received from the commercial licensing, rental or sale of the product.C. Before services to aid in the development of the product shall commence, OCAST shall enter into a contract with the inventor which shall include, in addition to any other provisions consistent with the provisions of Section 5064.1 et seq. of this title:1. The services which OCAST will provide to aid in the development of the product;2. Any other services which OCAST will assist the inventor in obtaining and for which the inventor shall be liable pursuant to written consent;3. Authorization for OCAST to receive a fee not to exceed an amount equal to ten percent (10%) of all royalties from the product for a period of ten (10) years; and4. An agreement from the inventor that all products developed under the program shall be researched, developed, manufactured, packaged and distributed from this state to the extent that it is economically feasible. Provided, the fee not to exceed an amount equal to ten percent (10%) of all royalties from products developed under this program wherever manufactured shall accrue to this state pursuant to the provisions of Section 5064.1 et seq. of this title.Added by Laws 1987, c. 121, § 6, eff. Nov. 1, 1987. Amended by Laws 1988, c. 313, § 3, emerg. eff. July 1, 1988; Laws 1998, c. 250, § 3, eff. July 1, 1998.
74 OK Stat § 74-5064.7 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5064.7. Incentives for inventors and businesses.

|A. The following incentives shall be available to inventors for products developed and manufactured in this state and to instate manufacturers of said products; provided, to qualify for the incentives, the product shall be patented or have patent pending pursuant to federal law and shall be registered with the Oklahoma Center for the Advancement of Science and Technology (OCAST): |1. Royalty earned by an inventor from a product developed and manufactured in this state shall be exempt from state income tax for a period of seven (7) years from January 1 of the first year in which such royalty is received as long as the manufacturer remains in the state; and2. An instate manufacturer of a product developed in this state by an inventor shall be eligible for a tax credit, as provided for in Section 2357.4 of Title 68 of the Oklahoma Statutes. In addition such manufacturer may exclude from Oklahoma taxable income, or in the case of an individual, the Oklahoma adjusted gross income, sixty-five percent (65%) of the cost of depreciable property purchased and utilized directly in manufacturing the product. The maximum exclusion shall not exceed Five Hundred Thousand Dollars ($500,000.00). If the exclusion allowed by this paragraph exceeds the Oklahoma taxable income, or in the case of an individual, the Oklahoma adjusted gross income, the amount of the exclusion that is in excess of such income may be carried forward as an exclusion against subsequent Oklahoma taxable income or in the case of an individual, subsequent Oklahoma adjusted gross income, for a period not to exceed four (4) years. For the purposes of this paragraph, "depreciable property" means machinery, fixtures, equipment, buildings, or substantial improvements thereto, placed in service in this state during the taxable year.B. The Oklahoma Tax Commission, in conjunction with the Oklahoma Center for the Advancement of Science and Technology, shall promulgate rules to implement the provisions of this section.Added by Laws 1987, c. 121, § 7, eff. Nov. 1, 1987. Amended by Laws 1988, c. 313, § 4, emerg. eff. July 1, 1988; Laws 1998, c. 250, § 4, eff. July 1, 1998.
74 OK Stat § 74-5064.8 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5064.8. Inventors and Entrepreneurs Program Fund.

|A. There is hereby created in the State Treasury a separate revolving fund for the Oklahoma Department of Commerce, to be designated the "Inventors and Entrepreneurs Program Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received by the Department for implementation of this act from all funds appropriated thereto by the Legislature, all fees received pursuant to this act, any federal funds, gifts, private and matching funds and all contributions dedicated thereto from private, state, federal or whatever source. All monies accruing to the credit of said fund are hereby appropriated and may be budgeted and expended by the Department for the purpose of implementing this act; however, monies expended for administrative costs shall not exceed five percent (5%) of the total amount of monies in said fund. Any amount in said fund not directly needed to implement the provisions of this act shall go to the General Revenue Fund of the state. Expenditures from said fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment. |B. On July 1, 1998, the Inventors and Entrepreneurs Program Fund shall be abolished and any unencumbered funds remaining in the Inventors and Entrepreneurs Program Fund shall be transferred to the credit of the OCAST Research Support Revolving Fund. Any unexpended funds remaining in the Inventors and Entrepreneurs Program Fund after November 1, 1998, shall be transferred to the credit of the OCAST Research Support Revolving Fund.Added by Laws 1987, c. 121, § 8, eff. Nov. 1, 1987. Amended by Laws 1988, c. 313, § 5, emerg. eff. July 1, 1988; Laws 1994, c. 322, § 30, emerg. eff. June 8, 1994; Laws 1998, c. 250, § 5, eff. July 1, 1998; Laws 2012, c. 304, § 1041.
74 OK Stat § 74-5064.9 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5064.9. Reports.

|The President of the Oklahoma Center for the Advancement of Science and Technology (OCAST) shall include in OCAST's annual report on program outcomes program information including: |1. The number of seminars and training programs held for inventors and entrepreneurs and the number of persons attending such seminars and programs;2. The number of inventors and entrepreneurs assisted; and3. The number of jobs created and preserved as a result of this program.Added by Laws 1987, c. 121, § 9, eff. Nov. 1, 1987. Amended by Laws 1994, c. 322, § 31, emerg. eff. June 8, 1994; Laws 1998, c. 250, § 6, eff. July 1, 1998.
74 OK Stat § 74-5066.1 (2021)
2021 Oklahoma Statutes|Title 74. State Government|§74-5066.1. Short title.

|This act shall be known and may be cited as the "Product Development Act". |Added by Laws 1992, c. 246, § 2, emerg. eff. May 21, 1992.