The Procurement Protection Act of 2026 establishes new regulations regarding state contracts in Oklahoma, specifically prohibiting foreign adversaries and federally banned corporations from entering into contracts with state agencies or political subdivisions. The bill defines key terms such as "foreign adversary," "federally banned corporation," and "foreign adversary company," and mandates that companies bidding for state contracts must certify their eligibility. If a company submits a false certification, it faces significant penalties, including a civil penalty of $250,000 or double the contract amount, termination of the contract, and a ban from bidding on state contracts for five years.

Exceptions to these prohibitions are provided, allowing state agencies to contract with ineligible companies if no reasonable alternatives exist and if the contract is pre-approved by the appropriate authority. The act also clarifies that compliance with the Secure and Trusted Communications Networks Act of 2019 exempts certain companies from these restrictions. The bill is declared an emergency measure, taking effect immediately upon passage and approval.