The bill amends Section 1020.19 of Title 82 of the Oklahoma Statutes to remove the previous requirement for metering water wells upon request from a majority of landowners in a basin or subbasin. Instead, it introduces a new framework aimed at encouraging groundwater conservation through a five-year flex allocation system, which will take effect on January 1, 2027. This system allows both existing and new groundwater permit holders to utilize a flexible allocation of groundwater based on previously determined annual usage without needing a new permit. The bill specifies that applicants must submit annual usage reports and pay the necessary groundwater permit fees to participate in this program.

Additionally, the bill outlines that permit holders can exceed their determined annual allocation within the five-year period, provided they do not exceed a cumulative limit of 200% of their permitted allocation in any single year. It also clarifies that these provisions do not apply to domestic wells. The effective date for the implementation of this act is set for November 1, 2026.