Bill No. 572 proposes the cessation of the technology business financing program managed by the Oklahoma Center for the Advancement of Science and Technology (OCAST) and the Commercialization Center. The bill amends 74 O.S. 2021, Section 5060.20a, to include new provisions that require the program to cease on the effective date of the act, which is set for November 1, 2025. It mandates that any remaining funds from the program be transferred to the State Treasurer and credited to the General Revenue Fund. Additionally, any royalties, fees, interest, profits, or other payments generated from the program must also be transferred to the State Treasurer at the end of each fiscal year.

The bill emphasizes that the program, which was designed to assist qualified Oklahoma enterprises in commercializing new products and technologies, will no longer be operational. It also specifies that the funds generated from the program should not be used for administrative or operational expenses of OCAST, ensuring that all financial resources are redirected to the General Revenue Fund following the program's termination.