Department of Commerce; requiring Department to create program; establishing requirements for program; creating the Tulsa Race Massacre Victims' Compensation Revolving Fund; making appropriation. Effective date. Emergency.

SB 278 creates a program to provide $2 million payments to living survivors of the 1921 Tulsa Race Massacre who are alive on the bill's effective date (July 1, 2025). It establishes a "Tulsa Race Massacre Victims’ Compensation Revolving Fund" in the state treasury, funded by a $4 million appropriation from the General Revenue Fund. Payments to survivors (or to their descendants if a survivor dies before receiving funds) will be administered by the Oklahoma Department of Commerce. The bill requires the department to work with a committee including Tulsa-area legislators and nonprofit organizations to implement the program.