Bill No. 987 proposes significant amendments to the Oklahoma Department of Commerce, primarily establishing the Oklahoma Department of Commerce Board as an advisory oversight body. The bill defines key terms, modifies the appointment procedures for the Chief Executive Officer (CEO) of the Department, and outlines the Board's structure, membership, and responsibilities. Notably, the CEO will now be appointed by the newly created Board rather than the Governor, and the CEO's salary will not be determined by existing state standards. The Board will consist of nine members with specific qualifications and will be responsible for approving the Department's strategic plan and budget, among other duties.

Additionally, the bill mandates that the Board adhere to the Oklahoma Open Meeting Act and the Oklahoma Open Records Act, allowing for executive sessions under certain conditions. The Board will also have the authority to create working groups and manage funds from various sources. The amendments aim to enhance the governance and operational efficiency of the Oklahoma Department of Commerce, with the new provisions set to take effect on January 1, 2026.

Statutes affected:
Introduced: 74-5003.4, 74-5003.5, 74-5003.7
Committee Substitute: 74-5003.4, 74-5003.5, 74-5003.7
Floor (Senate): 74-5003.4, 74-5003.5, 74-5003.7
Engrossed: 74-5003.4, 74-5003.5, 74-5003.7