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An Act
ENROLLED SENATE
BILL NO. 1530 By: Thompson of the Senate
and
Moore of the House
An Act relating to state government; amending Section
1, Chapter 348, O.S.L. 2025 (74 O.S. Supp. 2025,
Section 5091), which relates to the Oklahoma Research
and Development Rebate Fund; modifying definitions;
authorizing increase in certain rebate amount under
specified condition; modifying certain rule
promulgation authority; imposing certain duties on
the Oklahoma Department of Commerce; updating
statutory references; and providing an effective
date.
SUBJECT: Research and development fund
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY Section 1, Chapter 348, O.S.L.
2025 (74 O.S. Supp. 2025, Section 5091), is amended to read as
follows:
Section 5091. A. As used in this section:
1. “Qualified research expenditures” means the amount of
qualified research expenses claimed on line 9 or line 28 of federal
Form 6765 (Rev. December 2023) or the relevant line number of
federal Form 6765 in effect for the applicable tax year for expenses
incurred in this state research and development expenses occurring
in the state that follow generally accepted accounting principles
established by the Financial Accounting Standards Board; and
ENR. S. B. NO. 1530 Page 2
2. “Research and development” has the same meaning as defined
by the Financial Accounting Standards Board in the Accounting
Standards Codification. Research and development does not include:
a. routine product testing or quality control,
b. management or market research,
c. literary or artistic projects including films or
publications,
d. exploration for natural resources,
e. software or computer systems integration, or
f. application of existing knowledge and processes to
architectural or civil engineering projects.
B. There is hereby created in the State Treasury a revolving
fund for the Oklahoma Department of Commerce to be designated the
“Oklahoma Research and Development Rebate Fund”. The fund shall be
a continuing fund, not subject to fiscal year limitations, and shall
consist of all monies appropriated to the Department that are
designated for deposit in the fund. Monies appropriated to this
fund shall be expended to reimburse qualifying establishments for
qualified research expenditures.
C. There is hereby created a research and development rebate
program for the cost of qualified research expenditures by
establishments.
D. The investment rebate program shall be administered by the
Oklahoma Department of Commerce.
E. To be eligible for consideration for a research and
development rebate payment awarded under the provisions of this act
section, the establishment shall:
1. Submit an application and documentation to the Department,
as required by the Department;
ENR. S. B. NO. 1530 Page 3
2. Provide documentation as required by the Department to
determine that the research and development expenditures occurred
within this state; and
3. Have filed all Oklahoma tax returns as required by law.
F. Claims for rebate approved by the Department shall be equal
to five percent (5%) of qualified research expenditures of the
establishment. A rebate amount may increase by two percent (2%)
when the establishment partners with an institution of higher
education in the state.
G. Claims for rebate approved by the Department shall be paid
in the order that they are received. Total claims approved for
rebate shall not exceed the balance of the Oklahoma Research and
Development Rebate Fund. In no event shall claims approved for
rebate exceed Twenty Million Dollars ($20,000,000.00) in any fiscal
year.
H. If the amount of a claim exceeds the amount available in the
Oklahoma Research and Development Rebate Fund or the fiscal year
limitation provided in subsection G of this section, the payment may
be made in a prorated amount. Claims for rebate not approved by the
Department due to the limitations provided in subsection G of this
section may be approved and paid in subsequent fiscal years.
I. The Oklahoma Department of Commerce may shall promulgate
rules to effectuate the provisions of this section, including an
annual application process.
J. The Department shall be the determiner for qualification of
expenses and activities associated with the research and development
rebate.
K. The Department shall annually publish on its website
information detailing the return on investment of this rebate to the
state, including, but not limited to, establishments receiving the
rebate, the project, the industry of the establishment, and
institution of higher education information partnered with the
establishment if applicable.
SECTION 2. This act shall become effective November 1, 2026.
ENR. S. B. NO. 1530 Page 4
Passed the Senate the 11th day of March, 2026.
Presiding Officer of the Senate
Passed the House of Representatives the 13th day of April, 2026.
Presiding Officer of the House
of Representatives
OFFICE OF THE GOVERNOR
Received by the Office of the Governor this ____________________
day of ___________________, 20_______, at _______ o'clock _______ M.
By: _________________________________
Approved by the Governor of the State of Oklahoma this _________
day of ___________________, 20_______, at _______ o'clock _______ M.
_________________________________
Governor of the State of Oklahoma
OFFICE OF THE SECRETARY OF STATE
Received by the Office of the Secretary of State this __________
day of __________________, 20 _______, at _______ o'clock _______ M.
By: _________________________________