SB 987 Summary

• Creates the Oklahoma Department of Commerce Board as a 9-member advisory oversight board with members appointed by the President Pro Tempore of the Senate (2), Speaker of the House (2), and Governor (4), with the Secretary of Commerce serving as chair.

• Changes the appointment of the Chief Executive Officer of the Oklahoma Department of Commerce from gubernatorial appointment with Senate confirmation to appointment by the newly created Board, and the CEO serves at the Board's pleasure rather than the Governor's.

• Board members must have at least 5 years of private sector experience and expertise in areas including marketing, finance, economic development, law, workforce development, manufacturing, biotechnology, cybersecurity, defense, energy, aviation, or entrepreneurship.

• Establishes Board duties to prescribe rules and policies for the Department, review and approve the strategic plan and budget, advise on CEO appointment and compensation, review economic projects, and submit annual reports to the Governor and Legislature.

• Effective date is January 1, 2026; Board members receive no salary but are eligible for travel reimbursement, and Board meetings are subject to Oklahoma Open Meeting Act and Open Records Act provisions.