Maddy summaryThis bill amends the Oklahoma Emission Reduction Technology Incentive Act to expand and modify how financial rebates are provided for projects that lower emissions from oil and gas activities. The legislation defines eligible projects to include various technologies that reduce pollutants or energy use across upstream, midstream, and downstream operations, such as retrofitting engines and installing monitoring equipment. It creates a new revolving fund called the Oklahoma Emission Reduction Technology Downstream Incentive Revolving Fund and allows rebates of up to 25% of documented project costs, with a total annual cap of $10 million. To receive these payments, applicants must submit documentation to the Department of Environmental Quality within six months of the fiscal year end and meet specific tax and insurance requirements. The bill also updates administrative procedures, including allowing pre-expenditure approvals and establishing proportional payment rules if the available funds are insufficient to cover all approved claims.
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Maddy summaryThis bill updates the Oklahoma Low Carbon Energy Initiative to expand its focus on a broader range of energy technologies, including hydrogen production, carbon dioxide enhanced oil recovery, and renewable energy integration. It establishes a strategic program designed to foster collaboration between state agencies, universities, and private companies to advance research and infrastructure while ensuring efforts do not duplicate existing work. The legislation creates a revolving fund in the state treasury to manage all incoming money for the initiative and authorizes the program to accept donations and grants from various sources. Additionally, the bill directs state appropriations to the Secretary of Energy and includes provisions for attracting researchers and supporting venture capital investments in energy-related businesses.
Maddy summaryThis bill grants the Oklahoma Corporation Commission exclusive authority to regulate specific injection wells, including those used for carbon dioxide sequestration under the state's Carbon Capture and Geologic Sequestration Act. It establishes a formal application and hearing process for Class VI facilities, which are designed for storing carbon dioxide underground, and creates a revolving fund to support these operations. Additionally, the legislation clarifies the commission's jurisdiction over various oil and gas activities, such as pipeline construction and waste handling, while outlining procedures for unitizing pore space and issuing completion certificates for qualifying facilities.
Maddy summaryThis bill requires Oklahoma municipalities with at least $50,000 in annual revenue to undergo financial audits, mandating yearly audits for larger towns and biennial audits for smaller ones. For smaller municipalities, the law offers an alternative to a full audit by allowing the use of agreed-upon procedures, which involve specific tests like checking bank deposits and verifying employee pay rates. The bill also clarifies that grant money and certain public trust funds should not count toward the revenue threshold that triggers these audit requirements. Additionally, it sets strict deadlines for ordering and filing these audits with the State Auditor and Inspector to ensure timely financial oversight.
Maddy summaryThis Oklahoma law directs the state's Corporation Commission to work with the Southwest Power Pool, a regional electricity grid operator, to produce a detailed report on their relationship. The report must analyze how the Power Pool's decisions affect Oklahoma's electricity costs, budget, and industries, while also examining the transmission of power generated in the state to other regions. Commission officials are required to finish this assessment by December 31, 2024, and send the final findings to the Governor, state legislators, and committee chairs. The bill includes an emergency clause to ensure the law takes effect immediately upon signing.