This bill amends Sections 7004 and 7005 of Title 62 of the Oklahoma Statutes, which pertain to the Incentive Evaluation Commission. It establishes a structured evaluation process for state incentives, requiring evaluations every four years from 2024 to 2027 and beyond, unless deemed exempt due to minimal fiscal impact. The Commission is tasked with developing a four-year schedule for these evaluations, which must consider fiscal impacts and group similar incentives for assessment. New provisions include a requirement that no recipient or potential recipient of an incentive may contact the Commission's contractors unless specifically requested, and that findings and recommendations from evaluations must be presented to the Legislative Office of Fiscal Transparency.

Additionally, the bill enhances the evaluation criteria for incentives, mandating assessments of their economic impact, effectiveness, and alignment with strategic state goals. It introduces new requirements for evaluations, such as assessing whether incentives create competitive advantages and further strategic economic goals. The bill also stipulates that state agencies must provide necessary data for evaluations, while ensuring that such data remains confidential. The act is set to take effect on July 1, 2026, and includes an emergency clause for immediate implementation upon passage.

Statutes affected:
Introduced: 62-7004, 62-7005