Oklahoma Senate Bill SB396

Oklahoma 2023 Regular Session

• Introduced: 2/6/23
• Refer: 2/7/23

Caption

Applied research funds; requiring certain binding commitment before approval of certain research proposals. Effective date.

Impact

SB396 is expected to bolster the state's applied research initiatives by ensuring that funding is directed towards projects that have a demonstrable impact on the Oklahoma economy. The requirement for a binding commitment will lead to greater transparency and scrutiny of research proposals, as entities must demonstrate their ability to leverage additional funding and produce tangible results. This legislative action is positioned as a means to enhance employment opportunities in Oklahoma, particularly through collaboration between educational institutions, nonprofit foundations, and private enterprises.

Summary

Senate Bill 396, introduced by Senator Bergstrom, aims to amend Section 5060.19 of the Oklahoma Statutes regarding the use of funds from the Research Support Revolving Fund. The bill specifies that before any applied research proposal can be approved for funding, a binding commitment must be obtained from the receiving entity. This commitment should include detailed documentation about the anticipated outcomes of the research, such as employment levels and revenue generated as a result of the project, thereby ensuring accountability and measurable benefits for the state economy.

Contention

While the bill's proponents argue that it will streamline the funding process and enhance the quality of applied research, there may be concerns regarding the administrative burden it places on research institutions and small enterprises. Opponents could raise issues about the potential hindrance to innovation if the funding process becomes overly bureaucratic or if small-scale projects struggle to meet the stringent requirements for matching funds. Thus, a critical balance must be found between accountability and fostering a supportive environment for research and innovation.