Transportation

SB 1992 creates a new income tax credit program for businesses constructing or expanding facilities in qualifying locations across Oklahoma, such as underpopulated counties (under 100,000 people) or near rail infrastructure. It allows a 10% tax credit on construction and expansion costs (up to $6 million per project) and a 50% credit for rail infrastructure projects (up to $3 million per project), with a total annual state cap of $12 million. The bill defines "strategic finance partner" as entities providing capital (like loans or investments) to qualifying projects, enabling them to claim the tax credit through assignment to the business. The credit expires after tax year 2027 and requires Oklahoma Department of Commerce approval for project eligibility.

HB 2603 transfers enforcement authority for Oklahoma's motor carrier safety regulations - from the Oklahoma Corporation Commission to the Department of Public Safety - effective July 2026. This change affects commercial trucking companies and drivers by shifting oversight of safety rules, weigh station inspections, and permit enforcement to the Department of Public Safety. The bill creates a 12-month transition period (July 2026-June 2027) with a task force to coordinate the transfer of personnel, property, and responsibilities. Key provisions include requiring the Department of Public Safety to assume full enforcement authority over specific statutes related to motor carrier operations, permits, and safety compliance. The goal is to create a more unified enforcement approach for public safety in the commercial transportation sector.