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STATE OF OKLAHOMA
1st Extraordinary Session of the 59th Legislature (2023)
COMMITTEE SUBSTITUTE
FOR
HOUSE BILL NO. 1030 By: Wallace and Martinez of the
House
and
Thompson (Roger) and Hal l
of the Senate
COMMITTEE SUBSTITUTE
An Act relating to the Oklahoma Center for the
Advancement of Science and Technology; creating the
Oklahoma Accelerator Pro gram; placing program at
certain agency; providing purpose; establishing the
Oklahoma Accelerator Revolving Fund; establishing
fund nature; authorizing certain budgeting and
expenditure of funds for certain purpose; providing
for codification; providing an effective date; and
declaring an emergen cy.
BE IT ENACTED BY THE PEO PLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 5060.45 of Title 74, unless
there is created a duplication in numbering, reads as follows:
A. There is hereby established the Oklahoma Accelerator Prog ram
at the Oklahoma Center for the Advancement of Science and
Technology, to be administered by the Center as a continuation of
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the accelerator program previously administered by the Oklahoma
Department of Commerce. The program shall utilize appropriated
funding to leverage private capital for the purpose of stimulating
growth of early-stage startup companies throughout th e state by
connecting such companies with the global entrepreneurial ecosystems
required to enhance business talent and investment oppor tunities.
B. There is hereby created in the State Treasury a revolving
fund for the Oklahoma Center for the Advancement of Science and
Technology to be designated the "Oklahoma Accelerator Revolving
Fund". The fund shall be a continuing fund, not subject to fiscal
year limitations. The fund shall consist of all monies authorized
by law for deposit in such fund including, but not limited to,
gifts, grants, private donat ions, private equity contributions, and
fee revenues and funds by government entities a uthorized to provide
funding for the purposes authorized for the use of the fund. All
monies accruing to the credit of said fund are hereby approp riated
and may be budgeted and expended by t he Oklahoma Center for t he
Advancement of Science and Technology for purposes authorized by law
to implement the Oklahoma Accelerator Program. Expenditures from
said fund shall be made upon warrants issued by the State Treasurer
against claims filed as pre scribed by law with the Director of the
Office of Management and Enterprise Services for approval and
payment.
SECTION 2. This act shall become effective July 1, 2023.
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SECTION 3. It being immediately necessary for the pre servation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof thi s act shall take effect and
be in full force from and after its passage and approval.
59-1EX-50120 MKS 05/23/23