OK SB1627

Creates the Oklahoma Energy Initiative as a strategic program to advance energy research and development in conventional/unconventional oil and gas, CO2 enhanced oil recovery, wind forecasting, biofuels, energy storage, and renewable energy integration.

Establishes an 8-member governing Board with representatives from University of Oklahoma, Oklahoma State University, University of Tulsa, Oklahoma City University, Samuel Roberts Noble Foundation, plus appointments from the Governor, Senate President Pro Tempore, House Speaker, and legislative members.

Board members serve 4-year terms without compensation but may receive travel reimbursement; Board has authority to establish operating procedures, distribute funding, employ staff, and prepare annual progress reports to the Governor and Legislature.

Creates the Oklahoma Energy Initiative Revolving Fund in the State Treasury to receive appropriations, donations, grants, and endowments; exempts Initiative from Oklahoma Central Purchasing Act requirements.

Provides liability protection for Board members and Initiative staff for contracts and agreements executed in their official capacity; declares emergency effective upon passage and approval.