Senate Bill No. 131 introduces new regulations regarding the retirement of coal-fired electric generation facilities and the construction of advanced nuclear reactors in Oklahoma. The bill mandates that electric utilities must provide written notice and a detailed report to the Corporation Commission prior to retiring a coal-fired facility, including a cost study of replacement options. Utilities are encouraged to prioritize replacing these facilities with advanced nuclear reactors or natural gas-powered generation. If they choose not to, they must provide justification for their decision. The Corporation Commission is tasked with issuing a final order on the proposed replacement options.

Additionally, the bill outlines the requirements for entities seeking to construct nuclear power plants, defining them as "qualified entities" if they comply with federal and state regulations. These entities must also establish a secondary facility for spent fuel management within the same postal code as the nuclear plant. The application process for constructing a nuclear power plant includes submitting a letter of intent and detailed information about the project, such as construction timelines and cost-effectiveness data. The Department of Environmental Quality and the Corporation Commission are responsible for promulgating rules to support these provisions. The act is set to take effect on November 1, 2025.