Bill > SB1510

This bill modifies existing Oklahoma laws concerning wind and solar energy facilities by updating property restoration and financial assurance requirements. Specifically, it changes the depth for removing wind turbine foundations and other associated facilities to ensure the property is restored as closely as possible to its original condition before the facility was built, rather than a fixed depth. It also mandates that financial assurance, which is a form of security to cover the costs of decommissioning (removing) the facilities, must be provided by surety companies listed in the Federal Register, replacing a broader range of acceptable instruments. For solar power facilities, the bill clarifies that financial assurance must be in the form of a surety bond from specific types of companies and adjusts the calculation for the amount of financial assurance required, allowing it to be either the estimated cost of removal minus salvage value, or 125% of the total decommissioning cost. The bill also updates references to other sections of law and sets an effective date of November 1, 2026.

Agriculture and Natural Resources

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1510&Session=2600