State government; authorizing the State Purchasing Director to prepare a bid-preference program. Effective date.

SB 1408 requires Oklahoma's State Purchasing Director to create a bid-preference program for new businesses. It defines "eligible new corporations" as those operating less than five years and validly licensed in Oklahoma. The program mandates that if less than 10% of state contract funds go to such businesses, the lowest bid from an eligible new corporation receives a price adjustment to secure the contract. This applies to competitive bids under Oklahoma's Central Purchasing Act and Public Competitive Bidding Act. The law takes effect November 1, 2026.