HB 2026 Summary

• Renames the "Oklahoma Aircraft Engine Testing Development Grant Program" to the "Oklahoma Aircraft and Rocket Engine Testing Development Grant Program" to expand scope to include rocket engine testing.

• Expands the grant program's purpose to include development of aircraft and rocket engine testing capabilities and infrastructure, and considers potential to enhance aviation, aerospace, and space propulsion industries.

• Renames the associated revolving fund to the "Oklahoma Aircraft and Rocket Engine Testing Development Grant Program Revolving Fund" and specifies it receives public/private donations, contributions, gifts, and legislative appropriations.

• Maintains existing grant requirements including 40% matching funds minimum, airline/industry support letters, and quarterly progress reports with repayment provisions if terms are not met.

• Effective date July 1, 2025, with emergency clause allowing immediate effect upon passage and approval.