The Procurement Protection Act of 2026 establishes new regulations regarding state procurement processes in Oklahoma. It prohibits certain entities, specifically state-owned enterprises of foreign adversaries, companies domiciled within foreign adversaries, foreign adversary companies, and federally banned corporations, from bidding on contracts with state agencies or political subdivisions. Companies submitting bids must certify that they do not fall under these categories, and penalties for false certifications include civil fines, contract termination, and a ban from bidding on state contracts for 60 months.

The Act also defines key terms such as "company," "control," "domicile," "federally banned corporation," "foreign adversary," and "foreign adversary company," providing clarity on the entities affected by these regulations. Exceptions to the prohibitions are included, allowing state agencies to contract with listed companies if no reasonable alternatives exist and if the contract is pre-approved by the appropriate authority. The Act is set to take effect on November 1, 2026.