OK SB131

Defines "advanced nuclear reactors" as nuclear reactors including small modular reactors authorized by the United States Nuclear Regulatory Commission and Department of Environmental Quality.

Requires electric utilities retiring coal-fired generation facilities to submit written notice and cost study to the Corporation Commission, with priority given to replacement with advanced nuclear reactors or natural gas-powered facilities.

Directs the Corporation Commission to issue a final order approving or disapproving the replacement option for retiring coal-fired facilities.

Allows qualified entities to construct nuclear power plants in Oklahoma if they comply with federal and state requirements and establish a secondary spent fuel storage facility either at the plant location or within the same five-digit zip code.

Requires entities seeking to construct nuclear power plants to submit a letter of intent and application to the Department of Environmental Quality, including construction timelines, location details, NRC documentation, and cost-effectiveness information.

Becomes effective November 1, 2025.