OK HB2973

Establishes the Oklahoma Wind Energy Development Act requiring owners of wind energy facilities to properly decommission equipment within 12 months of abandonment or end of useful life, including removal of turbines and structures to 30 inches below grade.

Requires owners to file evidence of financial security (surety bond, collateral bond, parent guaranty, or letter of credit) with the Corporation Commission by the 15th year of operation to cover decommissioning costs, estimated by a licensed professional engineer.

Mandates wind energy facility owners report annual power generation, nameplate capacity, and location to the Corporation Commission by March 1 each year.

Requires owners to obtain commercial general liability insurance or self-insurance with excess liability coverage prior to construction, naming landowners as additional insured parties with 30 days' notice of any policy changes.

Grants landowners the right to inspect records once per calendar year to verify accuracy of energy production-based payments and requires owners to provide payment statements within 10 business days detailing the basis for compensation.