The bill amends the Oklahoma Space Industry Development Act and the Oklahoma Department of Aerospace and Aeronautics Act, primarily restructuring the Oklahoma Aerospace and Aeronautics Commission by increasing its membership from seven to nine. The President Pro Tempore of the Senate and the Speaker of the House of Representatives will each appoint one additional member. The qualifications for the commission members are updated to require that the seven members appointed by the Governor have at least three years of experience in aeronautical activities, while the two members appointed by legislative leaders must have similar experience in the commercial space industry or a state or federal space agency.

Additionally, the bill establishes the Oklahoma Space Industry Development Authority, governed by a Board of Directors formed from the existing commission, and allows the authority to contract with the Oklahoma Department of Aerospace and Aeronautics. It enhances the authority's powers, including the ability to own and improve facilities related to space operations and engage in promotional activities. The bill also clarifies that the Authority is subject to the Administrative Procedures Act, grants it sovereign immunity, and allows for contract execution without the constraints of the Public Competitive Bidding Act. Significant changes include the replacement of references to "this act" with "the Oklahoma Space Industry Development Act" and the repeal of Section 5206, with an effective date of July 1, 2025, and an emergency clause for immediate effect upon passage.

Statutes affected:
Introduced: 74-5207, 74-5206
House Committee Substitute for Senate Bill: 74-5207, 74-5206, 74-56., 74-2025.
Floor (House): 74-5207, 74-5206, 74-56., 74-2025.
Floor (Senate): 74-5207, 74-5206
Engrossed: 74-5207, 74-5206
Amended And Engrossed: 74-5207, 74-5206, 74-56., 74-2025.
Enrolled (final version): 74-5207, 74-5206, 74-56., 74-2025.