Senate Bill No. 300 amends the Oklahoma Capital Formation Act by dissolving the Oklahoma Capital Investment Board and transferring its responsibilities and assets to the Oklahoma Center for the Advancement of Science and Technology. The bill changes the governing body from the Oklahoma Capital Investment Board to the Oklahoma Science and Technology Research and Development Board, effective immediately upon the act's passage. It also establishes a new revolving fund under the Oklahoma Center for the Advancement of Science and Technology to manage the programs previously overseen by the dissolved board.

The bill includes updates to statutory language to ensure gender neutrality and improve clarity throughout the law. It renames the "Oklahoma Capital Investment Board" to the "Oklahoma Science and Technology Research and Development Board" in multiple sections, while also clarifying that the new board's powers are cumulative and do not limit its authority under other laws. Furthermore, any remaining funds owed to the board after settling obligations will be directed to the General Revenue Fund, and existing contracts or guarantees made by the board will remain enforceable. The bill is scheduled to take effect on November 1, 2025.