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SENATE FLOOR VERSION
February 21, 2024
AS AMENDED
SENATE BILL NO. 1372 By: Haste of the Senate
and
Hilbert of the House
[ aeronautics technology - grant program - grant
monies - conditions - agreement - rules - Revolving
Fund - codification - effective date -
emergency ]
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 501 of Title 3, unless there is
created a duplication in numbering, reads as follows:
This act shall be known and may be cited as the “Oklahoma
Aircraft Engine Testing Development Grant Program ”.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Sec tion 502 of Title 3, unless there is
created a duplication in numbering, reads as follows:
A. There is hereby created , within the Oklahoma Department of
Aerospace and Aeronautics , the Oklahoma Aircraft Engine Testing
Development Grant Program to offer financial assistance by grant to
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private or public entities for the purpose of expanding the aircraft
engine testing capabilities of this state and developing aircraft
engine testing infrastructure. Grant funding shall be administered
based on the potential for a specific project to enhance the
aviation and aerospace industry of this state. A gra nt under this
program shall be a one-time award.
B. Public, private, and nonprofit entities within this state
that have sufficient financial and ma nagement capacity to complete
the requested project are eligible for funding under this program.
Applicants shall provide the following information:
1. Airline or industry support as evidenced by a letter or
other communication directly from the entity stating its support for
the project;
2. The ability to provide a minimum of forty percent (40%)
matching funds for the project; and
3. A proposal summary that shall include any background
information or history with aircraft engine testing and development,
project description, timeline for completion of project, and
estimated budget for the entire project.
C. A grant agreement shall be made between any awar dee and the
Department. The grant agreement shall provide for the conditions of
disbursement, shall include a provision requiring the repayment of
awarded funds if the terms are not met, and shall include a
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requirement for awardees to provide ongoing quarterly reports
detailing activity related to the project.
SECTION 3. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 503 of Title 3, unless there is
created a duplication in numbering, reads as follows:
There is hereby created in the State Treasury a revolving fund
for the Oklahoma Department of Aerospace and Aeronau tics to be
designated the “Oklahoma Aircraft Engine Testi ng Development Grant
Program Revolving Fund”. The fund shall be a continuing fund, not
subject to fiscal year limitations, and shall consist of all monies
received by the Department from all monies received by any public or
private donations, contributions, and gifts received for the benefit
of the fund, and any amounts appropriated by the Legislature,
provided for the purpose of funding grants as provided in this act .
All monies accruing to the cre dit of the fund are hereby
appropriated and may be budgeted and expended by the Department for
the purpose provided for in this act. Expenditures from the fund
shall be made upon warrants issued by the State Treasurer against
claims filed as prescribed by law with the Director of the Office of
Management and Enterprise Services for approval and payment.
SECTION 4. This act shall become effective July 1, 2024.
SECTION 5. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
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declared to exist, by reason whereof thi s act shall take effect and
be in full force from and after its passage and approval.
COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS
February 21, 2024 - DO PASS AS AMENDED