Bill > SB1530

This bill requires the Oklahoma Department of Commerce to verify all applications and supporting documents submitted by businesses seeking a rebate for qualified research expenditures before awarding any payment. Qualified research expenditures are defined as expenses claimed on a specific federal tax form, Form 6765, for research and development conducted within Oklahoma. The bill also updates statutory references and clarifies that the rebate program is administered by the Oklahoma Department of Commerce, with approved claims being paid at five percent of the qualified research expenditures, subject to annual fund limitations and payment order. The bill will take effect on July 1, 2026, and is declared an emergency measure, meaning it will be in full force immediately upon passage and approval.

Labor and Employment

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1530&Session=2600