SB 300: Oklahoma Capital Investment Board; dissolving Board upon certain date; transferring certain contracts and management of certain investments to certain board. Effective date. - Oklahoma

Floor (House) → Floor (Senate) · 6 edits

MODERATE

This bill version transitions from the House to Senate floor, making substantive changes to the Oklahoma Capital Investment Board's structure and operations. The most significant change is the Board's dissolution on a certain date, with its functions and assets being transferred to the Oklahoma Science and Technology Research and Development Board and the Oklahoma Center for the Advancement of Science and Technology. The bill also updates definitions, gender-neutralizes language, and modifies statutory references.

Scope change

The bill's scope changes from maintaining the Oklahoma Capital Investment Board to dissolving it and transferring its contracts, investments, and revolving fund to other state entities focused on science and technology research and development.

STRUCTURE

The Oklahoma Capital Investment Board is scheduled for dissolution on a certain date, with its functions and assets being transferred to other state entities.

TRANSFERS

Contracts and management of certain investments are being transferred to the Oklahoma Science and Technology Research and Development Board.

A certain revolving fund is being transferred to the Oklahoma Center for the Advancement of Science and Technology.

DEFINITION

Updated definitions for key terms including 'Board', 'Director', 'Equity capital', 'Investor group', 'Near-equity capital', 'Persons', 'Put option', and 'Tax credits'.

REQUIREMENT

Board composition and appointment procedures are being modified, with positions being filled by the Governor with Senate consent rather than through existing trust structures.

TECHNICAL

Language has been made gender neutral and statutory references have been updated throughout the bill.

Enrolled (final version) → Floor (House) · 2 edits

MINOR

The bill transitions from a Senate-enrolled version to a House floor version, primarily updating formatting and page numbering while retaining the core legislative content. The substantive policy provisions regarding the Oklahoma Capital Investment Board remain unchanged, including definitions, board composition, and operational requirements.

TECHNICAL

Formatting and page numbering were updated to reflect the House floor version, including changes from 'ENROLLED SENATE' to 'HOUSE OF REPRESENTATIVES - FLOOR VERSION' and adjusted page references.

Minor text formatting adjustments were made throughout the document, including line breaks and spacing, without altering the substantive legal language.

Introduced → Engrossed · 5 edits · Mar 10, 2025

MODERATE

This bill fundamentally restructures the Oklahoma Capital Investment Board by merging it with the Oklahoma Science and Technology Research and Development Board under the Oklahoma Center for the Advancement of Science and Technology. The changes consolidate oversight, update definitions to reflect the new combined entity, and transfer management responsibilities to the new unified board structure.

Scope change

The bill's scope expanded from a standalone Capital Investment Board to a merged entity combining capital investment functions with science and technology research and development oversight under one unified board.

DEFINITION

The definition of 'Board' was changed to reflect the merged entity name combining the Oklahoma Capital Investment Board with the Science and Technology Research and Development Board.

REQUIREMENT

New provisions were added regarding conflict of interest rules, executive sessions for confidential information, and expanded transparency requirements for the merged board.

TIMELINE

The bill now includes provisions for dissolving the original Board upon a certain date and transferring contracts and investments to the new Science and Technology Research and Development Board.

FISCAL

A revolving fund was transferred to the Oklahoma Center for the Advancement of Science and Technology as part of the consolidation process.

TECHNICAL

Minor formatting changes and gender-neutral language updates were made throughout the document.

Engrossed → Enrolled (final version) · 5 edits · May 5, 2025

MODERATE

This bill transitions from an Engrossed version to an Enrolled final version, incorporating substantive changes that dissolve the Oklahoma Capital Investment Board and transfer its functions to the Oklahoma Science and Technology Research and Development Board. The final version adds new provisions regarding bond oversight and expands conflict of interest requirements for Board members.

Scope change

The bill's scope changed from maintaining an existing Capital Investment Board to dissolving it and transferring its responsibilities to the Science and Technology Research and Development Board, with the Board's functions ending on a specific date.

REQUIREMENT

Added new Section 5085.6(E) requiring bonds issued by the Oklahoma Capital Investment Board to be subject to oversight under the Oklahoma Bond Oversight and Reform Act.

ENFORCEMENT

Expanded conflict of interest provisions in Section 5085.6(D) to require competitive bidding following public invitation and added restrictions on Board member involvement when conflicts exist.

TIMELINE

Added provisions for dissolving the Oklahoma Capital Investment Board on a certain date and transferring contracts and management of investments to the Oklahoma Science and Technology Research and Development Board.

DEFINITION

Modified the definition of 'Board' in Section 5085.5 to now include the Science and Technology Research and Development Board of the Oklahoma Center for the Advancement of Science and Technology.

TECHNICAL

Corrected formatting and text inconsistencies including duplicate words, inconsistent capitalization, and page numbering between the Engrossed and Enrolled versions.

Oklahoma Capital Investment Board; dissolving Board upon certain date; transferring certain contracts and management of certain investments to certain board. Effective date.

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