Bill > SB469

This bill modifies the Oklahoma Emission Reduction Technology Rebate Program by updating several key provisions for businesses seeking rebates for emission reduction projects. The bill changes the timing for submitting documentation, allowing applicants to submit rebate payment applications up to six months prior to the program's cessation and requiring documentation to be filed within six months after project completion. It introduces a preliminary review process for rebate applications and clarifies that final approval from the Department of Environmental Quality is necessary. The bill maintains the existing 25% rebate for qualified emission reduction projects and retains requirements for applicants to file all required Oklahoma tax returns and provide general liability and workers' compensation insurance. If approved claims exceed available funds in the designated revolving funds, payments will be made proportionally, and any excess claims can be paid partially with the remaining balance to be paid when sufficient funds become available. The bill will become effective on July 1, 2025, and is being enacted with an emergency clause, which means it will take effect immediately upon passage and approval.

Agriculture and Natural Resources, Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb469&Session=2600