OK SB294

Excludes establishments engaged in electric automobiles for highway use manufacturing activities (NAICS Code 336110) from eligibility to receive funds from the Oklahoma Quick Action Closing Fund.

Requires the Oklahoma Department of Commerce to conduct a complete analysis of applicant's potential business impact including job creation/retention, average salaries, capital investment, and economic benefits before the Governor approves fund payments.

Fund payments must include agreements with performance conditions, payment schedules, claw-back provisions for non-compliance, and restrictions prohibiting use of funds for political contributions or campaign activities.

If awarded funds are used for capital improvements, recipients must repay the state with interest if the improvement is sold, and must share proportionate profits from the sale with the state.

Effective date: November 1, 2025.