Research and development; Oklahoma Research and Development Tax Incentive Act of 2025; effective date.

HB 1923 creates the "Oklahoma Research and Development Tax Incentive Act of 2025," providing tax credits to businesses conducting research and development activities within Oklahoma. It directly affects qualifying Oklahoma companies by allowing them to reduce their state income tax liability based on eligible R&D expenditures. The bill establishes a formal tax incentive program, effective November 1, 2025, though specific credit percentages or eligibility thresholds are not detailed in the provided text.