This bill appropriates Twenty Million Dollars ($20,000,000.00) from the General Revenue Fund of the State Treasury to the Oklahoma Department of Commerce for the fiscal year ending June 30, 2024. The funds are designated for providing rebates for capital investments in establishments that refine, manufacture, or process compounds or elements into hydrogen-based products, specifically within industries classified under Subsector 324 or 325 of the North American Industry Classification System (NAICS) Manual.

Additionally, the bill establishes that it will take effect on November 1, 2025. This timeline allows for the necessary preparations and implementations by the Oklahoma Department of Commerce to fulfill the duties associated with the appropriation.