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 an effective date of November 1, 2025, for the provisions outlined. This appropriation aims to support the growth and development of hydrogen-based industries in Oklahoma, thereby promoting economic development and innovation in the state.