SB 714: Energy Discrimination Elimination Act of 2022; transferring enforcement authority to Office of the Attorney General; modifying reporting, disclosure, and judicial provisions for state governmental entities. Effective date. Emergency, - Oklahoma

Floor (Senate) → SB714 (3-24-25) (RADER) FS WDFA1.PDF · 4 edits

MODERATE

The bill was converted from a Senate Floor version to a Floor Substitute, which includes significant substantive changes to the definitions and scope of the Energy Discrimination Elimination Act. The most critical change is the addition of 'noncodification,' meaning the new provisions will not be added to the permanent Oklahoma Statutes. Additionally, the definition of a 'boycott' was modified to explicitly include voting on shareholder proposals, and the list of exempted entities was expanded to include research firms and financial companies.

Scope change

The bill's scope was altered by adding a 'noncodification' provision, preventing the law from becoming permanent statute, and by expanding the definition of 'boycott' to include shareholder voting activities.

TECHNICAL

Added a 'noncodification' provision, ensuring the new text is not added to the permanent Oklahoma Statutes.

DEFINITION

Expanded the definition of 'boycott energy company' to explicitly include actions such as voting on shareholder proposals to penalize or inflict economic harm.

Changed the title of the section from 'NEW LAW' to 'AMENDATORY' in the header, though the body text remains an amendment to existing law.

ELIGIBILITY

Added 'research firms' and 'financial companies' to the list of entities exempt from private lawsuits under the act.

SB714 (3-24-25) (RADER) FS WDFA1.PDF → SB714 (3-24-26) (RADER) FS FA2.PDF · 8 edits

MODERATE

This bill was updated from the 2025 legislative session to the 2026 session with significant substantive changes. The primary shift is from a broad Energy Discrimination Elimination Act to a more narrowly focused amendment of Section 12005, which specifically governs contracts between state agencies and companies. The bill now explicitly defines 'governmental entity' to include state agencies and political subdivisions, and establishes specific contract requirements and exemptions related to energy discrimination policies.

Scope change

The bill's scope narrowed from a comprehensive Energy Discrimination Elimination Act covering multiple sections to a focused amendment of Section 12005 regarding municipal and state agency contracts. The applicability now specifically targets contracts between governmental entities and companies with ten or more full-time employees.

TIMELINE

Changed from 1st Session of the 60th Legislature (2025) to 2nd Session of the 60th Legislature (2026), updating the legislative session and statutory references from 2024 to 2025.

SCOPE

Reduced the bill's scope from amending multiple sections (2, 3, 4, and 5) of Chapter 231 to only amending Section 5 (Section 12005), which relates specifically to municipal and state agency contracts.

DEFINITION

Added a new definition for 'governmental entity' to mean a state agency or political subdivision of the state, replacing the previous 'State governmental entity' definition that was limited to state retirement systems.

Removed multiple definitions including 'Attorney General,' 'Boycott energy company,' 'Company,' 'Direct holdings,' 'Financial company,' 'Indirect holdings,' 'Listed financial company,' 'Ordinary business purpose,' and 'State governmental entity' from the main act.

REQUIREMENT

Added new contract requirements mandating that contracts with companies must include written verification that the company does not and will not boycott energy companies during the contract term.

Established a contract threshold requiring contracts to pay $100,000 or more over the contract term to be subject to the new verification requirements.

ELIGIBILITY

Modified eligibility criteria by adding exemptions for state agencies that determine debt obligations and for contracts where supplies or services are not reasonably available from non-listed financial companies.

ENFORCEMENT

Removed the broad indemnification provisions that protected employees, contractors, and former officers from liability in cases related to the Energy Discrimination Elimination Act.

SB714 (3-24-25) (RADER) FS FA1.PDF → Floor (Senate) · 5 edits

MODERATE

This bill amends the Energy Discrimination Elimination Act of 2022 to clarify definitions, remove restrictions on legal proceedings, transfer enforcement authority, and provide exemptions for state governmental entities. The changes update statutory language to align with current legal standards and remove provisions that previously limited certain actions.

Scope change

The bill expands the scope by clarifying definitions of key terms and removing restrictions on legal proceedings related to the act's implementation.

DEFINITION

Updated definitions of 'Attorney General', 'Boycott energy company', 'Company', 'Treasurer', 'Direct holdings', 'Financial company', 'Indirect holdings', 'Listed financial company', 'Ordinary business purpose', and 'State governmental entity' to clarify their meanings and scope.

REQUIREMENT

Removed the requirement for noncodification and updated statutory references to align with current legal standards.

ENFORCEMENT

Added provisions for indemnification of state employees, contractors, and former employees acting in compliance with the act, and expanded exemptions for state governmental entities.

Transferred authority for enforcement of the act from the Treasurer to the Attorney General.

SCOPE

Removed political subdivisions from certain provisions of the act and updated statutory language to improve clarity and consistency.

Introduced → SB714 (3-24-25) (RADER) FS FA1.PDF · 5 edits

MODERATE

This bill amends the Energy Discrimination Elimination Act of 2022 to prohibit state retirement systems from using their assets to boycott energy companies, aligning the law with the Oklahoma Constitution's requirement that retirement assets be used solely for beneficiaries' benefit. The changes remove exemptions for state governmental entities from certain provisions and clarify definitions related to boycotts and financial companies.

Scope change

The bill's scope was narrowed by removing exemptions for state governmental entities and adding a constitutional provision that prohibits using state retirement system assets to boycott energy companies.

SCOPE

Added a new section stating that using state retirement system assets to boycott energy companies violates the Oklahoma Constitution's requirement that such assets be used exclusively for beneficiary benefits.

DEFINITION

Modified the definition of 'boycott energy company' to include additional actions like demonstrating a history of voting on shareholder proposals to penalize companies.

Added 'former employee' and 'former member of the governing body' to the list of individuals protected by indemnification provisions.

EXEMPTIONS

Removed exemptions for state governmental entities from certain provisions of the Energy Discrimination Elimination Act.

ENFORCEMENT

Modified the indemnification section to include former employees and former governing body members who were serving when the action occurred.

Energy Discrimination Elimination Act of 2022; transferring enforcement authority to Office of the Attorney General; modifying reporting, disclosure, and judicial provisions for state governmental entities. Effective date. Emergency,

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