Bill > SB300

This bill dissolves the Oklahoma Capital Investment Board and transfers its contracts, management of investments, and revolving fund to the Oklahoma Science and Technology Research and Development Board (part of the Oklahoma Center for the Advancement of Science and Technology) effective November 1, 2025. The bill amends several sections of Oklahoma law to reflect this transition, updating references from the "Oklahoma Capital Investment Board" to the "Oklahoma Science and Technology Research and Development Board" throughout the existing statutes. The changes include modifying definitions related to the board, ensuring that existing contracts and guarantees remain valid, and transferring any remaining funds to the General Revenue Fund after all obligations are settled. The bill also makes various technical changes such as gender-neutral language and clarifying statutory references. Key provisions include maintaining the enforceability of existing agreements, allowing the new board to administer and operate the programs of the former board, and ensuring that any remaining monies will be paid to the state's General Revenue Fund after all expenses and obligations are met.

Budget and Finance, Government Affairs

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb300&Session=2600