The bill amends the Oklahoma Rural Jobs Act to expand the program by allowing rural funds to participate in an additional offering of state tax credits. Specifically, beginning July 1, 2025, rural funds that meet eligibility requirements will be permitted to access up to $200 million in state tax credits, which is a significant increase from the previous cap of $15 million in state tax credits that could be claimed in any calendar year. The administration of this additional offering will align with the existing provisions of the Oklahoma Rural Jobs Act.

Additionally, the bill clarifies the certification process for capital investment authority and stipulates that if a rural fund does not receive the cash investment and issue the capital investment within the specified time frame, the certification will lapse, requiring reapplication. The effective date for this act is set for November 1, 2025.