HB 2765 renames Oklahoma's "Cash Management and Investment Oversight Commission" to the "Invest in Oklahoma Board" and establishes a new program allowing state retirement systems and other specified public funds (like teachers' and firefighters' retirement systems) to invest up to 5% of their assets in Oklahoma-based venture capital, private equity, and growth funds. The bill requires these investments to be approved by the new board, sets criteria for selecting investment advisors (including local investment experience), and eliminates some existing reporting requirements. It directs state funds toward local economic development while maintaining oversight for investment safety and returns. The program aims to channel public investment into Oklahoma businesses through a structured, board-approved process.
HB 2764 establishes a framework for determining when Oklahoma can reduce income tax rates based on state revenue levels. It requires the State Board of Equalization to annually certify five-year average revenue amounts from oil, natural gas, and corporate income taxes. If projected revenue exceeds these averages, specific portions (100% for oil/gas, 25% to a reserve fund and 75% to a stabilization fund for corporate tax) must be deposited into state funds. This bill directly affects Oklahoma taxpayers paying these specific taxes and sets the revenue thresholds that would trigger future income tax rate reductions. The law was approved by the Governor on May 28, 2025.
HB 1422 increases the maximum bond capacity for Oklahoma's Grand River Dam Authority (GRDA) from $1.41 billion to up to $3.6 billion, subject to Oklahoma Department of Commerce approval under specific economic development criteria. The bill authorizes GRDA to issue bonds to fund infrastructure projects like dams, hydroelectric power plants, transmission lines, and facility improvements. It updates outdated language to be gender-neutral and declares an emergency to expedite the process. This change directly affects GRDA's ability to finance major energy and water infrastructure projects across Oklahoma.
HB 1462 requires Oklahoma courts to prioritize ordering restitution payments to crime victims when sentencing convicted defendants (excluding death penalty cases). The bill amends sentencing procedures to ensure courts consider restitution as a key requirement before other sentencing options, with interest accruing at 12% annually. It directly affects convicted individuals who must pay restitution, crime victims who receive priority for compensation, and courts that must now formally prioritize this in sentencing decisions. The law applies to all criminal convictions where restitution is feasible without causing undue hardship to the defendant.
HB 1460 adds new fees for criminal convictions in Oklahoma. It requires courts to collect a $10 fee for most convictions (excluding parking violations) and a $150 laboratory analysis fee for cases involving forensic services from OSBI, the Chief Medical Examiner, or local agencies. Funds from these fees are deposited into specific accounts: the $150 fees go to OSBI, medical examiner, or local law enforcement revolving funds, while the $10 fees fund the CLEET Training Center and General Revenue. The bill also creates a $5 fee for misdemeanor marijuana possession cases, with proceeds going to a drug education fund. These fees apply to individuals convicted of offenses punishable by fines or jail time, excluding minor traffic violations.
SB 453 creates the "Oklahoma Expedited Actions Act," establishing a streamlined court process for civil cases seeking $250,000 or less in monetary relief (excluding interest, penalties, and attorney fees). It directly affects plaintiffs and defendants in small civil claims by imposing strict limits: discovery must conclude within 180 days, parties may submit only 15 written interrogatories or requests for production, and trials must occur within 90 days after discovery ends. The bill also caps trial time at eight hours per side for jury trials and requires cases to be resolved faster than standard civil procedures. This aims to reduce delays and costs in lower-value disputes while maintaining clear procedural boundaries.
HB 2781, the Reindustrialize Oklahoma Act of 2025 (ROA-25), creates a new economic development program offering rebates to qualifying manufacturing businesses. It requires applicants to commit to $2 billion in capital investments and create at least 700 new jobs in the first year (rising to 1,000+ annually), targeting businesses in manufacturing sectors (NAICS 31-33). The Oklahoma Department of Commerce administers the program, disbursing rebates from a dedicated fund (ROA-25 Beneficiary Revolving Fund) after verifying job creation and capital spending. The bill prohibits recipients from also claiming other state incentives like the Quality Jobs Program for the same project. The act was approved by the Governor on May 28, 2025.
SB 701 temporarily lifts 11 existing legal restrictions that limit which Oklahoma public colleges can offer specific courses or degree programs in Muskogee and Tulsa areas. It prohibits institutions like Northern Oklahoma College, Connors State College, and Northeastern State University from being restricted to only lower-division courses or specific locations for five academic years. The bill authorizes Oklahoma's State Regents for Higher Education to approve "functional exceptions" allowing institutions to expand course offerings beyond their usual mission to address unmet workforce needs. This change takes effect July 1, 2025, directly affecting how community colleges and universities operate in these regions.
This bill amends Oklahoma's payroll and claims processing procedures for state agencies, not tort liability as the title suggests. It authorizes the Director of the Office of Management and Enterprise Services to establish electronic systems and forms for processing claims and payrolls, allowing agencies to file claims against multiple fund accounts and requiring detailed payroll records showing earnings, withholdings, and net pay per employee. The changes apply directly to all state agencies and their employees, streamlining how claims are submitted, audited, and paid. It does not alter liability limits for tort claims, as the title incorrectly implies, but focuses solely on administrative payroll and claims management systems. The bill was enacted on May 27, 2025, after approval by the Governor.
SB 1171 amends Oklahoma's state payroll and claims procedures to modernize administrative processes for state agencies. It authorizes the Director of the Office of Management and Enterprise Services to establish electronic systems for processing payroll and claims, allowing agencies to file claims against multiple fund accounts simultaneously. The bill requires detailed payroll records showing total earnings, specific withholdings (like taxes), and net pay for each employee, with withholdings reserved for lump-sum payments to appropriate entities. This directly affects all state agencies and employees by updating how payroll is processed and documented. (Note: The bill's title referencing "repealing the Perform Act" appears inconsistent with the actual content, which focuses on administrative payroll updates rather than incentives or repeal.)
SB 999 updates Oklahoma's definitions and procedures under the Uniform Unclaimed Property Act. It clarifies terms like "apparent owner," "claimant," and "holder," and specifies how unclaimed property in safe deposit boxes must be handled (including providing wills/trust copies upon request). The bill also establishes the "Unclaimed Property Fund" in the State Treasury for managing claims. This procedural update affects property holders, claimants, and the State Treasurer’s office, but does not change abandonment periods or claim eligibility.
HB 1160 amends Oklahoma's insurance guaranty association law to clarify its purpose, scope, and operations. It updates the association's role in paying covered claims when property/casualty insurers become insolvent, explicitly excluding life, health, government-backed, and certain other insurance types from coverage. The bill allows the association to join specified organizations and clarifies that some operational records are not public (with limited exceptions). These changes directly affect Oklahoma insurers required to join the association and policyholders whose claims might be covered under the guaranty system.
