General Obligation Limited Tax Bonds (GOLTBs) (Oklahoma)
Last modified on February 12, 2015.
|Applies to States or Provinces||Oklahoma|
|Name||General Obligation Limited Tax Bonds (GOLTBs) (Oklahoma)|
|Policy Category||Financial Incentive|
|Policy Type||Bond Program|
|Affected Technologies||Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy|
|Program Administrator||Oklahoma Department of Commerce|
General Obligation Limited Tax Bonds (GOLTBs) are issued by counties and cities to provide financing for industrial projects. Revenue generated by the project in the form of income is used to retire the bonds. If revenue generated by the project is inadequate to retire the bonds then a levy will be placed on the property taxes of the jurisdiction in order to retire the bonds. Only the acquisition, construction or expansion of real property is eligible for GOLTBs.