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SB324 • 2026

Incentives; creating the Oklahoma Research and Development Rebate Fund; prescribing sources of funds; creating a research and development rebate program; authorizing promulgation of rules.

Incentives; creating the Oklahoma Research and Development Rebate Fund; prescribing sources of funds; creating a research and development rebate program; authorizing promulgation of rules.

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Thompson
Last action
2025-05-29
Official status
Filed with Secretary of State
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Incentives; creating the Oklahoma Research and Development Rebate Fund; prescribing sources of funds; creating a research and development rebate program; authorizing promulgation of rules.

Incentives; creating the Oklahoma Research and Development Rebate Fund; prescribing sources of funds; creating a research and development rebate program; authorizing promulgation of rules.

What This Bill Does

  • Incentives; creating the Oklahoma Research and Development Rebate Fund; prescribing sources of funds; creating a research and development rebate program; authorizing promulgation of rules.
  • Bill Summaries/Fiscal Impact for SB 324 (House): Engrossed (4/10/2025) Bill Summaries/Fiscal Impact for SB 324 (House): Senate Conference Committee Report (5/21/2025) Bill Summaries/Fiscal Impact for SB 324 (Senate): Introduced (1/6/2025) Bill Summaries/Fiscal Impact for SB 324 (Senate): Floor Amendment 1 (3/24/2025) Bill Summaries/Fiscal Impact for SB 324 (Senate): Senate Conference Committee Report (5/21/2025) Fiscal Impact Statements For SB 324 (Senate): SB324 INT FI.PDF (Fiscal (Senate)) Fiscal Impact Statements For SB 324 (Senate): SB324 ENGR FI.PDF (Fiscal (Senate))

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

Filed

Plain English: Req.

  • Req.
  • No.
  • 1842 Page 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 STATE OF OKLAHOMA 1st Session of the 60th Legislature (2025) FLOOR SUBSTITUTE FOR SENATE BILL NO.
  • 324 By: Thompson of the Senate and Hill of the House FLOOR SUBSTITUTE [ rebate program - Rebate Fund - rebate program - eligibility - payment - claim amounts - promulgation of rules - codification - effective date – emergency ] BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA: SECTION 1.

Bill History

  1. 2025-05-29 Senate

    Veto overridden: Ayes: 33 Nays: 14

  2. 2025-05-29 Senate

    Measure sent to House

  3. 2025-05-29 House

    Veto override message received

  4. 2025-05-29 House

    Veto overridden: Ayes: 69 Nays: 13

  5. 2025-05-29 House

    To Senate

  6. 2025-05-29 Senate

    Filed with Secretary of State

  7. 2025-05-28 Senate

    Vetoed 05/28/2025

  8. 2025-05-22 Senate

    CCR adopted, GCCA

  9. 2025-05-22 Senate

    Measure passed, to House: Ayes: 31 Nays: 14

  10. 2025-05-22 House

    CCR submitted

  11. 2025-05-22 House

    CCR adopted

  12. 2025-05-22 House

    Fourth Reading, Measure passed: Ayes: 59 Nays: 24

  13. 2025-05-22 House

    To Senate

  14. 2025-05-22 Senate

    Referred for enrollment

  15. 2025-05-22 Senate

    Enrolled, to House

  16. 2025-05-22 House

    Signed, returned to Senate

  17. 2025-05-22 Senate

    Sent to Governor

  18. 2025-05-21 Senate

    CCR read, GCCA

  19. 2025-05-21 Senate

    Title restored

  20. 2025-05-21 Senate

    Enacting clause restored

  21. 2025-05-21 Senate

    Emergency removed

  22. 2025-05-15 House

    Conference granted, naming GCCA

  23. 2025-05-13 Senate

    HAs rejected, conference requested

  24. 2025-05-13 Senate

    SCs named GCCA

  25. 2025-05-07 House

    Engrossed, signed, to Senate

  26. 2025-05-07 Senate

    HAs read

  27. 2025-05-06 House

    General Order

  28. 2025-05-06 House

    Third Reading, Measure passed and Emergency failed: Ayes: 65 Nays: 23; Ayes: 65 Nays: 23

  29. 2025-05-06 House

    Referred for engrossment

  30. 2025-04-17 House

    CR; Do Pass, as amended, Appropriations and Budget Committee

  31. 2025-04-17 House

    Enacting clause stricken

  32. 2025-04-10 House

    Recommendation to the full committee; Do Pass Appropriations and Budget Finance Subcommittee

  33. 2025-04-02 House

    Referred to Appropriations and Budget Finance Subcommittee

  34. 2025-04-01 House

    Second Reading referred to Appropriations and Budget

  35. 2025-03-26 Senate

    Engrossed to House

  36. 2025-03-26 House

    First Reading

  37. 2025-03-25 Senate

    General Order, Amended by Floor Substitute

  38. 2025-03-25 Senate

    Emergency added

  39. 2025-03-25 Senate

    Measure and Emergency passed: Ayes: 33 Nays: 11

  40. 2025-03-25 Senate

    Referred for engrossment

  41. 2025-03-05 Senate

    Withdrawn from Appropriations committee

  42. 2025-03-05 Senate

    Placed on General Order

  43. 2025-03-03 Senate

    Reported Do Pass as amended Revenue and Taxation committee; CR filed

  44. 2025-03-03 Senate

    Title stricken

  45. 2025-03-03 Senate

    Referred to Appropriations

  46. 2025-02-04 Senate

    Second Reading referred to Revenue and Taxation Committee then to Appropriations Committee

  47. 2025-02-03 Senate

    First Reading

  48. 2025-02-03 Senate

    Authored by Senator Thompson

  49. 2025-02-03 Senate

    Coauthored by Representative Hill (principal House author)

Official Summary Text

Incentives; creating the Oklahoma Research and Development Rebate Fund; prescribing sources of funds; creating a research and development rebate program; authorizing promulgation of rules.
Bill Summaries/Fiscal Impact for SB 324 (House): Engrossed (4/10/2025)
Bill Summaries/Fiscal Impact for SB 324 (House): Senate Conference Committee Report (5/21/2025)
Bill Summaries/Fiscal Impact for SB 324 (Senate): Introduced (1/6/2025)
Bill Summaries/Fiscal Impact for SB 324 (Senate): Floor Amendment 1 (3/24/2025)
Bill Summaries/Fiscal Impact for SB 324 (Senate): Senate Conference Committee Report (5/21/2025)
Fiscal Impact Statements For SB 324 (Senate): SB324 INT FI.PDF (Fiscal (Senate))
Fiscal Impact Statements For SB 324 (Senate): SB324 ENGR FI.PDF (Fiscal (Senate))

Current Bill Text

Read the full stored bill text 
An Act
ENROLLED SENATE
BILL NO. 324 By: Thompson of the Senate

and

Hill of the House

An Act relating to incentives; defining term;
creating the Oklahoma Research and Development Rebate
Fund; prescribing sources of funds; providing for
expenditures; creating a research and development
rebate program; requiring the Oklahoma Department of
Commerce to administer program; prescribing
eligibility; prescribing rebate amount; prescribing
payment procedures; limiting claim amounts;
authorizing promulgation of rules; and providing for
codification.

SUBJECT: Oklahoma Research and Development Rebate Fund

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 5091 of Title 74, unless there
is created a duplication in numbering, reads as follows:

A. “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.

B. There is hereby created in the State Treasury a revolving
fund for the Oklahoma Department of Commerce to be designated the

ENR. S. B. NO. 324 Page 2
“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,
the establishment shall:

1. Submit an application and documentation to the Department,
as required by the Department;

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.

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

ENR. S. B. NO. 324 Page 3
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 promulgate rules to
effectuate the provisions of this section.

ENR. S. B. NO. 324 Page 4
Passed the Senate the 22nd day of May, 2025.

Presiding Officer of the Senate

Passed the House of Representatives the 22nd day of May, 2025.

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: _________________________________