An act relating to economic development, the official text

1                            STATE OF OKLAHOMA

2             1st Session of the 60th Legislature (2025)

3 HOUSE BILL 2236                By: Munson

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6                            AS INTRODUCED

7   An Act relating to economic development; defining

    terms; establishing the College Graduate Retention

8   Incentive Partnership program; providing for

    incentive payment to certain college graduates;

9   providing requirements for certain agreement;

    requiring the Department of Commerce to advertise

10  program; requiring Department maintain certain list;

    providing for codification; providing an effective

11  date; and declaring an emergency.

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14 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:

15  SECTION 1.      NEW LAW  A new section of law to be codified

16 in the Oklahoma Statutes as Section 5091 of Title 74, unless there

17 is created a duplication in numbering, reads as follows:

18  A. As used in this section:

19  1. "Department" means the Oklahoma Department of Commerce;

20  2. "Eligible institution of higher education" means any public

21 or private institution of higher education in the state;

22  3. "Graduate" means a student who graduates from an eligible

23 institution of higher education on or after the effective date of

24 this act;

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1   4. "Incentive" means a monetary award given each year, for not

2 more than four (4) years, by a participating employer to a graduate

3 which may be paid to the graduate or to an entity servicing the

4 graduate's student loans;

5   5. "Participating employer" means any person, firm,

6 corporation, partnership, association, the state, any political

7 subdivision of the state, or any other entity which is engaged in a

8 business or in providing services and which employs employees in

9 connection with such business or services who enters into a

10 participating employer agreement to provide an incentive to a

11 graduate; and

12  6. "Participating employer agreement" means an agreement

13 prepared by the Department.

14  B. There is hereby established the College Graduate Retention

15 Incentive Partnership (GRIP) program which shall be administered by

16 the Department. The purpose of GRIP is to recruit and retain

17 graduates from eligible institutions of higher education and provide

18 incentives to those graduates to work in the state.

19  C. A graduate who obtains employment with a participating

20 employer and executes a participating employer agreement shall

21 receive an incentive of not less than One Thousand Dollars

22 ($1,000.00) each year for the first four (4) years of the graduate's

23 employment with the participating employer. The agreement shall be

24 signed by an authorized agent of the participating employer. The

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1 participating employer shall retain a copy of each signed agreement

2 in its files.

3   D. The Department shall, in cooperation with the Oklahoma State

4 Regents for Higher Education, advertise to Oklahoma employers and

5 students the details of GRIP through print and electronic media.

6 The Department shall maintain a list of employers who have a valid

7 participating employer agreement and shall make the list available

8 on the Department's public website.

9   SECTION 2. This act shall become effective July 1, 2025.

10  SECTION 3. It being immediately necessary for the preservation

11 of the public peace, health or safety, an emergency is hereby

12 declared to exist, by reason whereof this act shall take effect and

13 be in full force from and after its passage and approval.

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15  60-1-11079      AQH  12/28/24

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    Req. No. 11079                                                Page 3