The Oklahoma Space Renaissance Act establishes a new framework for supporting the state's space industry through significant financial appropriations. The bill designates the Oklahoma Space Industry Development Authority as the recipient of funds from the General Revenue Fund for the fiscal year ending June 30, 2026. Specifically, it allocates $1.3 million for the Authority's operational duties, $35 million for infrastructure investments at the Oklahoma Air and Space Port to facilitate spacecraft testing and launching, and $15 million for a microgravity research consortium aimed at applied science commercialization in partnership with local research institutes.

The act is set to take effect on July 1, 2025, and includes an emergency clause, allowing it to be enacted immediately upon passage and approval. This legislation reflects Oklahoma's commitment to enhancing its space industry and promoting STEM engagement, thereby fostering economic growth and innovation in the region.