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STATE OF OKLAHOMA
2nd Session of the 60th Legislature (2026)
SENATE BILL 1779 By: Wingard
AS INTRODUCED
An Act relating to economic development; requiring
requests for monies submitted by the Oklahoma
Department of Commerce to the Legislature to include
certain provision; directing the Department to
allocate monies for certain purpose; authorizing
alternate use of monies for certain purposes;
defining term; providing for codification; providing
an effective date; and declaring an emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 5092.1 of Title 74, unless there
is created a duplication in numbering, reads as follows:
A. When the Oklahoma Department of Commerce submits requests
for monies from the Legislature for the purpose of funding economic
development projects throughout the state, thirty percent (30%) of
all monies within such requests shall be granted to rural counties
with populations of less than fifty thousand (50,000), according to
the most recent Federal Decennial Census.
B. Upon receiving funds from the Legislature for the purpose of
funding economic development projects throughout the state, the
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Department shall assign thirty percent (30%) of such monies to be
used to fund economic development projects in counties with
populations of less than fifty thousand (50,000), according to the
most recent Federal Decennial Census. If monies allocated to such
counties by the Department remain unused after eighteen (18) months
following their allocation, the Department may utilize such monies
for other economic development projects throughout the state.
C. “Economic development” means a comprehensive process by
which the state enhances the economic well-being and quality of life
of its residents through sustainable increases in income,
employment, infrastructure, and access to essential services. This
shall encompass efforts to attract investment, promote
entrepreneurship, improve workforce skills, and foster innovation,
with the aim of achieving long-term growth within the framework of
applicable laws, taxpayer funding, and regulations.
SECTION 2. This act shall become effective July 1, 2026.
SECTION 3. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
60-2-2248 BRC 1/14/2026 5:03:52 PM