Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
1
2 1st Session of the 60th Legislature (2025)
2
3 SENATE BILL 119 By: Green
3
4
4
5
5
6 AS INTRODUCED
6
7 An Act relating to economic development; creating
7 investment rebate program until certain date;
8 providing qualifying criteria; requiring submission
8 of application; requiring the Oklahoma Department of
9 Commerce to approve or disapprove certain claims and
9 issue payment; limiting source of payments; making
10 payments contingent upon deposits to certain fund;
10 providing amount of rebate; authorizing conditional
11 pre-qualification; creating the Commerce Energy
11 Manufacturing Activity Development Fund; establishing
12 fund procedures; providing sources of funds;
12 providing for expenditures from fund; directing
13 transfer of unencumbered fund upon certain date;
13 making appropriation; directing deposit in certain
14 fund; providing for codification; providing an
14 effective date; and declaring an emergency.
15
15
16
16
17 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
17
18 SECTION 1. NEW LAW A new section of law to be codified
18
19 in the Oklahoma Statutes as Section 3648.1 of Title 68, unless there
19
20 is created a duplication in numbering, reads as follows:
20
21 A. There is hereby created until July 1, 2031, an investment
21
22 rebate program for the cost of qualified capital expenditures, as
22
23 defined by Section 3645.3 of Title 68 of the Oklahoma Statutes, by
23
24
24
Req. No. 682 Page 1
1 establishments defined by Section 3645.3 of Title 68 of the Oklahoma
1
2 Statutes, that:
2
3 1. Refine, manufacture, or process compounds or elements into
3
4 hydrogen-based products, including the production of blue hydrogen
4
5 through the process of autothermal reforming (ATR) and green
5
6 hydrogen through the process of electrolysis, and the refining of
6
7 domestically produced crude oil into cleaner transportation fuels in
7
8 industries defined or classified in the North American Industry
8
9 Classification System (NAICS) Manual under Subsector 324 or 325;
9
10 2. Generate and store emission free power and energy in
10
11 industries defined or classified in the NAICS Manual under Subsector
11
12 221, and water production from waste heat and ambient air; and
12
13 3. Have acquired at least a six hundred (600) acre parcel of
13
14 real property located within this state, where the qualified capital
14
15 will be located.
15
16 B. To be eligible for consideration for an investment rebate
16
17 payment awarded under the provisions of this act, the establishment
17
18 shall:
18
19 1. Submit an application and documentation to the Oklahoma
19
20 Department of Commerce, as required by the Department, outlining a
20
21 capital expenditure plan in this state associated with qualified
21
22 capital expenditures totaling no less than Seven Hundred Fifty
22
23 Million Dollars ($750,000,000.00);
23
24
24
Req. No. 682 Page 2
1 2. Have made qualified capital expenditures no less than twenty
1
2 percent (20%) of the capital expenditure plan outlined in the
2
3 application submitted by the primary establishment and approved by
3
4 the Oklahoma Department of Commerce, pursuant to the provisions of
4
5 this act; and
5
6 3. Have filed all Oklahoma tax returns and tax documents
6
7 required by law.
7
8 C. Notwithstanding any other provision of law, no investment
8
9 expenditure shall be utilized for calculation purposes that results
9
10 in the qualification of more than one establishment under the
10
11 provisions of this act, for investment rebate payments based on the
11
12 same expenditure.
12
13 D. 1. The Oklahoma Department of Commerce shall approve or
13
14 disapprove claims for rebates and shall issue payment for all
14
15 approved claims from funds held in the Commerce Energy Manufacturing
15
16 Activity Development Fund created in Section 2 of this act.
16
17 2. The Department shall disapprove all applications and claims
17
18 or any portion of applications and claims for rebates that would
18
19 exceed the balance of available funds in the Commerce Energy
19
20 Manufacturing Activity Development Fund.
20
21 3. The total amount of applications approved and investment
21
22 rebate payments awarded under the provisions of this act shall not
22
23 exceed the total amount of monies designated by law for deposit to
23
24 the Commerce Energy Manufacturing Activity Development Fund.
24
Req. No. 682 Page 3
1 E. 1. Subject to the approval and ongoing review of the
1
2 eligibility application by the Oklahoma Department of Commerce, the
2
3 investment rebate payment authorized by this act shall be equal to
3
4 six and sixty-seven one-hundredths percent (6.67%) of the cost of
4
5 the qualified capital expenditure in the year of expenditure.
5
6 2. The Department is authorized to conditionally pre-qualify
6
7 and account for anticipated future investment rebate payments. The
7
8 Oklahoma Department of Commerce shall not pre-qualify investment
8
9 rebate payments, encumber funds, pre-encumber funds, or otherwise
9
10 allocate resources that would result in the allocation of investment
10
11 rebate payments in excess of the balance of available funds in the
11
12 Commerce Energy Manufacturing Activity Development Fund.
12
13 SECTION 2. NEW LAW A new section of law to be codified
13
14 in the Oklahoma Statutes as Section 3648.2 of Title 68, unless there
14
15 is created a duplication in numbering, reads as follows:
15
16 A. There is hereby created in the State Treasury a fund for the
16
17 Oklahoma Department of Commerce to be designated the "Commerce
17
18 Energy Manufacturing Activity Development Fund". The fund shall be
18
19 a continuing fund, not subject to fiscal year limitations, and shall
19
20 consist of all monies designated for deposit to the fund by law.
20
21 All monies accruing to the credit of the fund are hereby
21
22 appropriated and may be budgeted and expended by the Department for
22
23 the purpose of paying rebates as provided in this act. Expenditures
23
24 from the fund shall be made upon warrants issued by the State
24
Req. No. 682 Page 4
1 Treasurer against claims filed as prescribed by law with the
1
2 Director of the Office of Management and Enterprise Services for
2
3 approval and payment.
3
4 B. All unencumbered funds remaining in the Commerce Energy
4
5 Manufacturing Activity Development Fund upon July 1, 2031, shall be
5
6 transferred to the State Treasurer for deposit in the General
6
7 Revenue Fund.
7
8 SECTION 3. There is hereby appropriated to the Oklahoma
8
9 Department of Commerce for deposit in the Commerce Energy
9
10 Manufacturing Activity Development Fund, from any monies not
10
11 otherwise appropriated from the General Revenue Fund of the State
11
12 Treasury for the fiscal year ending June 30, 2023, the sum of Fifty
12
13 Million Dollars ($50,000,000.00).
13
14 SECTION 4. This act shall become effective July 1, 2025.
14
15 SECTION 5. It being immediately necessary for the preservation
15
16 of the public peace, health or safety, an emergency is hereby
16
17 declared to exist, by reason whereof this act shall take effect and
17
18 be in full force from and after its passage and approval.
18
19
19
20 60-1-682 QD 12/26/2024 6:17:07 PM
20
21
21
22
22
23
23
24
24
Req. No. 682 Page 5Every fact on this page links to its source, starting with the official bill record.