Bill > SB135

This bill modifies the Oklahoma Aircraft Engine Testing Development Grant Program by expanding its scope to include rocket engines and space propulsion technologies. The program, administered by the Oklahoma Department of Aerospace and Aeronautics, will now offer financial assistance grants to public, private, and nonprofit entities seeking to enhance aircraft or rocket engine testing capabilities and infrastructure in the state. Eligible applicants must provide evidence of industry support, commit to providing at least 40% matching funds, and submit a detailed project proposal. Grant recipients must enter into a grant agreement with the Department, which includes conditions for fund disbursement, potential fund repayment if terms are not met, and a requirement to provide quarterly project reports. The bill also establishes a revolving fund in the State Treasury to support these grants, which can receive public and private donations, contributions, and legislative appropriations. The program's name is updated to reflect the expanded focus, and the bill will become effective on July 1, 2025, with an emergency clause ensuring immediate implementation upon passage and approval.

Budget and Finance, Transportation and Infrastructure

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb135&Session=2600