Oklahoma 2023 1st Special Session

Oklahoma House Bill HB1030

Introduced

5/17/23

Refer

5/18/23

Report Pass

5/23/23

Engrossed

5/24/23

Enrolled

5/26/23

Passed

6/12/23

Caption

Oklahoma Center for the Advancement of Science and Technology; creating the Accelerator Program; establishing the Accelerator Revolving Fund; effective date; emergency.

Impact

The implementation of HB 1030 will have significant implications for state laws concerning funding and support for startup businesses. By creating the Oklahoma Accelerator Revolving Fund, which is intended to be a continuous fund not subject to fiscal year limitations, the bill allows for a more sustained investment in entrepreneurship. This fund can include contributions from private entities and governmental organizations, indicating a strategic shift toward collaborative funding mechanisms to support local economic growth.

Summary

House Bill 1030 establishes the Oklahoma Accelerator Program under the Oklahoma Center for the Advancement of Science and Technology. This initiative aims to stimulate growth in early-stage startup companies across the state by connecting them with global entrepreneurial ecosystems. The program will leverage appropriated funding to enhance business talent and investment opportunities in Oklahoma, thereby promoting economic development and innovation within the state.

Sentiment

The sentiment surrounding HB 1030 has generally been positive among lawmakers and stakeholders who advocate for economic innovation and entrepreneurship. Proponents argue that this initiative not only supports local economies but also positions Oklahoma as a favorable environment for startups and emerging businesses. However, there may also be concerns about the effective management of the new fund and ensuring that it translates into real opportunities for businesses across the state.

Contention

Notable points of contention surrounding HB 1030 may arise concerning the allocation of funds and how the program is administered. Questions may be raised regarding the influence of private capital contributions on the direction of the program and whether it adequately serves all areas of Oklahoma, including underserved regions. Ensuring equitable access to the resources provided by the Oklahoma Accelerator Program will be crucial in mitigating any potential criticisms.

Latest HB1030 Activity

Companion Bills

No companion bills found.

Previously Filed As

OK HB2176

Oklahoma Accelerator Program; revolving fund; effective date; emergency.

OK HB2463

State government; creating the Oklahoma Center for the Advancement of Science and Technology Program Modernization Act; modifying powers and duties; effective date.

OK SB942

Aeronautics technology; creating the Oklahoma Aircraft Engine Testing Development Grant Program; creating revolving fund. Effective date. Emergency

OK SB214

Oklahoma Center for the Advancement of Science and Technology; requiring certain commitments before awarding certain contracts for health research projects; providing for exception. Effective date.

OK SB773

Transportation; modifying the Oklahoma Advanced Mobility Pilot Program; creating the Oklahoma Advanced Air Mobility Revolving Fund. Effective dates.

OK SB509

Oklahoma Historical Society; directing the Oklahoma Historical Society to develop a grant program for the Oklahoma Civil Rights Trail; creating certain revolving fund. Effective date. Emergency.

OK HB2036

Mental health workers; creating a revolving fund for the Oklahoma State University Medical Authority; pilot program; effective date; emergency.

OK HB2863

Veterinary medicine; Oklahoma State University Veterinary Medicine Authority (OSUVMA); creation; revolving funds; bonds; effective date; emergency.

OK SB492

Oklahoma Department of Agriculture, Food, and Forestry; creating the Wildfire Reimbursement Revolving Fund. Effective date. Emergency.

OK HB2457

Workforce development; Oklahoma NextGen Employee Development Program; findings; definitions; Department of Commerce; Oklahoma Tax Commission; workforce training; payments; wages; NextGen Employee Development Program Revolving Fund; effective date; emergency.