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OK SB1530
Bill
Status
3/12/2026
Primary Sponsor
Kristen Thompson
Click for details
AI Summary
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Amends the Oklahoma Research and Development Rebate Fund to redefine "qualified research expenditures" as R&D expenses following GAAP standards established by the Financial Accounting Standards Board, replacing the previous definition tied to federal Form 6765
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Establishes a base rebate of 5% of qualified research expenditures, with an additional 2% rebate (totaling 7%) available when establishments partner with an Oklahoma institution of higher education
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Caps total rebate claims at $20 million per fiscal year, with claims paid in the order received and prorated payments allowed if funds are insufficient
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Requires the Oklahoma Department of Commerce to promulgate rules for an annual application process and serve as the sole determiner for qualifying expenses and activities
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Mandates the Department annually publish return-on-investment data on its website, including recipient establishments, projects, industries, and any higher education partnerships; effective November 1, 2026
Legislative Description
State government; Oklahoma Research and Development Rebate Fund; authorizing increase in certain rebate amount under specified condition; imposing certain duties on the Oklahoma Department of Commerce. Effective date.
Last Action
First Reading
3/12/2026