This bill establishes a new section in the Oklahoma Statutes that defines a "data center" as a facility designed to handle a load of 100 megawatts or more, primarily for the storage, management, and processing of digital data. It imposes a moratorium on the construction or establishment of data centers in Oklahoma until November 1, 2029. The bill mandates that the Corporation Commission conduct a comprehensive study on the potential impacts of data centers on various factors, including the state's water supply, utility rates, property values within a three-mile radius of proposed sites, and other relevant areas. Additionally, the Commission is tasked with assessing ideal locations for data centers from a security perspective.

Furthermore, the Corporation Commission is required to electronically submit a report of its findings to the Legislature by the moratorium's expiration date, which should include recommendations for regulating data centers to safeguard the electric grid, water resources, and the environment, as well as suggestions for sourcing components that protect citizens' privacy and security. The bill also authorizes the Corporation Commission to promulgate rules to implement these provisions effectively.