OK SB1426

Renames the Oklahoma Master Business License System Act to the "Oklahoma Master Business License and Occupational License Review System Act" and makes oversight and review of occupational licensing agencies' decisions mandatory.

Creates a Review Committee within the Department of Commerce composed of the Attorney General (or delegate), Director of Commerce (or delegate), and Commissioner of Labor (or delegate), with two serving as co-chairs.

Authorizes the Review Committee to oversee and review occupational and professional licensing agencies' decisions regarding rulemaking, license issuance/denial, disciplinary actions, and administrative fines to ensure compliance with statutory authority and prevent antitrust or anticompetitive practices.

Grants state immunity from antitrust and unfair trade practice liability to occupational licensing agencies that consistently adhere to the Review Committee's supervision and approval of their actions.

Establishes the Committee must meet within 30 days of matters presented for review and has authority to veto, modify, or adjust agency actions if authorized by law or rule; effective July 1, 2016.