Economic development; creating investment rebate program for certain qualified expenditures; making appropriation. Effective date. Emergency.

SB 119 creates a 6.67% investment rebate program for businesses making qualified capital expenditures in Oklahoma's clean energy manufacturing sector. It directly affects companies producing hydrogen (blue/green via ATR/electrolysis), cleaner transportation fuels, or emission-free power, requiring a minimum $750 million capital investment plan and 600 acres of land within the state. The rebate, paid from the new "Commerce Energy Manufacturing Activity Development Fund," is limited to actual qualified costs and cannot exceed available state funds. Applications must be submitted to the Oklahoma Department of Commerce, with payments issued only after approval and verification of tax compliance. The program expires July 1, 2031.