Oklahoma SB1530: State government; Oklahoma Research and Development Rebate Fund; authorizing increase in certain rebate amount under specified condition; imposing certain duties on the Oklahoma Department of Commerce. Effective date.

What the bill says

An Act relating to state government; amending Section 1, Chapter 348, O.S.L. 2025 (74 O.S. Supp. 2025, Section 5091), which relates to the Oklahoma Research and Development Rebate Fund; modifying definitions; authorizing increase in certain rebate amount under specified condition; modifying certain rule promulgation authority; imposing certain duties on the Oklahoma Department of Commerce; updating statutory references; and providing an effective date. SUBJECT: Research and development fund.

From the enrolled text, April 14, 2026:

An Act relating to state government; amending Section 1, Chapter 348, O.S.L. 2025 (74 O.S. Supp. 2025, Section 5091), which relates to the Oklahoma Research and Development Rebate Fund; modifying definitions; authorizing increase in certain rebate amount under specified condition; modifying certain rule promulgation authority; imposing certain duties on the Oklahoma Department of Commerce; updating statutory references; and providing an effective date. SUBJECT: Research and development fund SECTION 1. AMENDATORY Section 1, Chapter 348, O.S.L. 2025 (74 O.S. Supp. 2025, Section 5091), is amended to read as follows: Section 5091. A. As used in this section: 1. "Qualified research expenditures" means the amount of qualified research expenses claimed on line 9 or line 28 of federal Form 6765 (Rev. December 2023) or the relevant line number of federal Form 6765 in effect for the applicable tax year for expenses incurred in this state research and development expenses occurring in the state that follow generally accepted accounting principles established by the Financial Accounting Standards Board; and 2. "Research and development" has the same meaning as defined by the Financial Accounting Standards Board in the Accounting Standards Codification. Research and development does not include: a. routine product testing or quality control, b. management or market research, c. literary or artistic projects including films or publications, d. exploration for natural resources, e. software …

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