Bill > HB1068

This bill establishes new regulations for state governmental entities and public trusts regarding nondisclosure agreements and financial incentives. Specifically, the bill prohibits state governmental entities and public trusts from entering into agreements that would prevent them from disclosing the terms of financial benefits provided to businesses using state taxes. However, the bill includes an important exception that protects businesses' proprietary information. State entities are not required to disclose sensitive business details such as trade secrets, input costs, labor costs, or profit margin information that are shared confidentially by a for-profit business entity when seeking incentives or benefits. The legislation creates a balance between governmental transparency and protecting businesses' competitive information, and is set to take effect on November 1, 2025. This approach aims to increase public accountability for state financial incentives while still maintaining reasonable confidentiality for businesses receiving such benefits.

Government Affairs

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1068&Session=2600