SB 718 Oklahoma Senate · 2026 Regular Session

Oklahoma Capital Investment Board; repealing the Oklahoma Capital Formation Act and Board. Effective date.

This bill repeals the Oklahoma Capital Investment Board and its related statutes (Sections 5085.1-5085.16 of Title 74). It eliminates the board that previously certified venture capital firms and Oklahoma business ventures eligible for a tax credit. The tax credit itself - which allows a 20% credit on investments in qualifying Oklahoma business ventures - remains in effect, but the certification process previously managed by the board is discontinued. This change affects venture capital firms and businesses seeking tax credits under the existing program.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 3, 2025 Last action Feb 24, 2025

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What changed between versions

Introduced → Floor (Senate) · 4 edits

MODERATE

The bill was amended during Senate floor consideration to add new definitions for 'direct investment' and 'debt and equity funds', clarify what counts as 'tangible' and 'intangible assets', and specify that the tax credit is 20% of investments. These changes provide clearer guidance on what types of investments qualify for the tax credit program.

Scope change

The bill's scope was expanded by adding specific definitions for investment types and clarifying asset categories that qualify for the tax credit

DEFINITION

Added new definition for 'direct investment' specifying purchase of securities from private companies or new public company issues with prior year sales under $10 million

Added new definition for 'debt and equity funds' covering various loan types and equity securities with repayment terms not faster than 5-year amortization

REQUIREMENT

Clarified that 'tangible assets' include real property and construction improvements, while 'intangible assets' are limited to computer software, licenses, patents, copyrights, and similar items

FISCAL

Specified that the tax credit equals 20% of cash amounts invested in qualified venture capital companies that are subsequently invested in Oklahoma business ventures

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 19, 2025

Upper · Passed

Reported Do Pass as amended Economic Development, Workforce and Tourism committee; CR filed

upper

Feb 3, 2025

Introduced

First Reading

upper

1 primary · 0 co-sponsors