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
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2 2nd Session of the 60th Legislature (2026)
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3 SENATE BILL 1530 By: Thompson
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6 AS INTRODUCED
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7 An Act relating to state government; amending Section
7 1, Chapter 348, O.S.L. 2025 (74 O.S. Supp. 2025,
8 Section 5091), which relates to the Oklahoma Research
8 and Development Rebate Fund; requiring the Oklahoma
9 Department of Commerce to verify certain information;
9 updating statutory references; providing an effective
10 date; and declaring an emergency.
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13 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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14 SECTION 1. AMENDATORY Section 1, Chapter 348, O.S.L.
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15 2025 (74 O.S. Supp. 2025, Section 5091), is amended to read as
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16 follows:
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17 Section 5091. A. "Qualified research expenditures" means the
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18 amount of qualified research expenses claimed on line 9 or line 28
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19 of federal Form 6765 (Rev. December 2023) or the relevant line
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20 number of federal Form 6765 in effect for the applicable tax year
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21 for expenses incurred in this state.
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22 B. There is hereby created in the State Treasury a revolving
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23 fund for the Oklahoma Department of Commerce to be designated the
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24 "Oklahoma Research and Development Rebate Fund". The fund shall be
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Req. No. 2486 Page 1
1 a continuing fund, not subject to fiscal year limitations, and shall
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2 consist of all monies appropriated to the Department that are
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3 designated for deposit in the fund. Monies appropriated to this
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4 fund shall be expended to reimburse qualifying establishments for
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5 qualified research expenditures.
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6 C. There is hereby created a research and development rebate
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7 program for the cost of qualified research expenditures by
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8 establishments.
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9 D. The investment rebate program shall be administered by the
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10 Oklahoma Department of Commerce.
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11 E. To be eligible for consideration for a research and
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12 development rebate payment awarded under the provisions of this act
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13 section, the establishment shall:
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14 1. Submit an application and documentation to the Department,
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15 as required by the Department;
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16 2. Provide documentation as required by the Department to
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17 determine that the research and development expenditures occurred
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18 within this state; and
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19 3. Have filed all Oklahoma tax returns as required by law.
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20 F. The Department shall verify all applications and
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21 documentation submitted, as provided in subsection E of this
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22 section, prior to awarding the rebate payment.
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Req. No. 2486 Page 2
1 G. Claims for rebate approved by the Department shall be equal
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2 to five percent (5%) of qualified research expenditures of the
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3 establishment.
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4 G. H. Claims for rebate approved by the Department shall be
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5 paid in the order that they are received. Total claims approved for
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6 rebate shall not exceed the balance of the Oklahoma Research and
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7 Development Rebate Fund. In no event shall claims approved for
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8 rebate exceed Twenty Million Dollars ($20,000,000.00) in any fiscal
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9 year.
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10 H. I. If the amount of a claim exceeds the amount available in
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11 the Oklahoma Research and Development Rebate Fund or the fiscal year
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12 limitation provided in subsection G H of this section, the payment
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13 may be made in a prorated amount. Claims for rebate not approved by
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14 the Department due to the limitations provided in subsection G H of
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15 this section may be approved and paid in subsequent fiscal years.
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16 I. J. The Oklahoma Department of Commerce may promulgate rules
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17 to effectuate the provisions of this section.
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18 SECTION 2. This act shall become effective July 1, 2026.
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19 SECTION 3. It being immediately necessary for the preservation
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20 of the public peace, health or safety, an emergency is hereby
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21 declared to exist, by reason whereof this act shall take effect and
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22 be in full force from and after its passage and approval.
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24 60-2-2486 MSBB 1/12/2026 2:07:59 PM
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Req. No. 2486 Page 3Every fact on this page links to its source, starting with the official bill record.