SB 324 Oklahoma Senate · 2025 Regular Session

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

SB 324 creates the Oklahoma Research and Development Rebate Fund to provide tax rebates to businesses conducting eligible research and development activities within the state. The bill establishes a program where qualifying companies can receive rebates based on their qualified R&D expenses, funded through designated state sources. This directly affects Oklahoma-based businesses investing in innovation, offering them financial incentives to support ongoing research and development efforts.

Bill status vetoed 4 of 5 stages cleared

Introduction

Feb 2025

Committee Review

May 2025

Senate Passage

May 2025

House Passage

May 2025

Vetoed

May 2025

Introduced Feb 3, 2025 Vetoed May 29, 2025

Maddy AI version diff · 6 comparisons

What changed between versions

Floor (House) → Floor (Senate) · 4 edits

MODERATE

The bill was amended to change the effective date from July 1, 2025 to November 1, 2025, and to add provisions allowing unused tax credits to be carried forward for five years. The Senate version also clarifies that the credit cannot reduce tax liability below zero and adds a committee report indicating the bill should pass as amended.

Scope change

The bill's scope remains focused on creating a research and development rebate program, but the Senate version adds carry-forward provisions for unused credits and clarifies the credit's interaction with tax liability.

TIMELINE

Effective date changed from July 1, 2025 to November 1, 2025

REQUIREMENT

Added provision allowing unused tax credits to be carried forward for five subsequent tax years

Added clarification that the credit cannot reduce taxpayer's income tax liability below zero

TECHNICAL

Added committee report indicating the bill should pass as amended

Floor votes

How they voted

This bill passed the Senate by voice vote (no roll call recorded).

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

May 29, 2025

Introduced

Filed with Secretary of State

upper

May 29, 2025

Vetoed

Veto overridden: Ayes: 69 Nays: 13

lower

May 29, 2025

Vetoed

Veto override message received

lower

May 29, 2025

Vetoed

Veto overridden: Ayes: 33 Nays: 14

upper

May 28, 2025

Vetoed

Vetoed 05/28/2025

upper

May 22, 2025

Committee

Referred for enrollment

upper

May 22, 2025

Lower · Passed

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

lower

May 22, 2025

Lower · Passed

CCR adopted

lower

May 22, 2025

Upper · Passed

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

upper

May 22, 2025

Upper · Passed

CCR adopted, GCCA

upper

May 13, 2025

Amended

HAs rejected, conference requested

upper

May 7, 2025

Lower · Passed

Engrossed, signed, to Senate

lower

May 6, 2025

Committee

Referred for engrossment

lower

May 6, 2025

Lower · Passed

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

lower

Apr 17, 2025

Lower · Passed

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

lower

Apr 10, 2025

Lower · Passed

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

lower

Apr 2, 2025

Committee

Referred to Appropriations and Budget Finance Subcommittee

lower

Mar 26, 2025

Introduced

First Reading

lower

Mar 26, 2025

Upper · Passed

Engrossed to House

upper

Mar 25, 2025

Committee

Referred for engrossment

upper

Mar 25, 2025

Upper · Passed

Measure and Emergency passed: Ayes: 33 Nays: 11

upper

Mar 25, 2025

Introduced

General Order, Amended by Floor Substitute

upper

Mar 3, 2025

Committee

Referred to Appropriations

upper

Mar 3, 2025

Upper · Passed

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

upper

Feb 3, 2025

Introduced

First Reading

upper

2 primary · 0 co-sponsors