This bill establishes a new section in the Oklahoma Statutes, specifically Section 85.49 of Title 74, which defines the term "eligible new corporation" as any corporation that has been in operation for fewer than five years and is properly licensed under state law. The bill authorizes the State Purchasing Director to create a bid-preference program aimed at encouraging the participation of these eligible new corporations in state contracts.

Under this program, when competitive bids are submitted to the state, if the total funds spent on eligible new corporations is less than ten percent, a percentage will be added to the price of the lowest bid. If an eligible new corporation submits a bid that is lower than the adjusted lowest bid, it will be awarded the contract. The bill is set to take effect on November 1, 2026.