Waters and water rights; authorizing the Oklahoma Water Resources Board to implement certain allocation to encourage conservation after certain date; effective date.

HB 4350 establishes a five-year flexible groundwater allocation system for permit holders in Oklahoma's basins starting January 1, 2027. It allows existing and new groundwater permit holders to exceed their annual usage limits in individual years (by up to 200%) while requiring total usage over five years to stay within the basin's overall allocation. Permit holders must install approved meters, submit annual usage reports, and pay annual fees, but domestic wells are excluded. The bill aims to encourage conservation by providing flexible usage within cumulative basin limits. It becomes effective November 1, 2026.