OK
Oklahoma Senate Bill SB1505

Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB1505 Compare Versions

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4-An Act
5-ENROLLED SENATE
6-BILL NO. 1505 By: Paxton of the Senate
28+ENGROSSED HOUSE AMENDME NT
29+ TO
30+ENGROSSED SENATE BILL NO . 1505 By: Paxton of the Senate
731
832 and
933
10- Boles and Archer of the
11-House
12-
34+ Boles of the House
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1638 An Act relating to rebate payments; amending Sections
1739 2, 3, 4, and 5, Chapter 346, O.S.L. 2022 (68 O.S.
1840 Supp. 2023, Sections 55007, 55008, 55009, and 55010),
1941 which relate to the Oklahoma Emission Redu ction
2042 Technology Incentive Act; modifying intent; modifying
2143 definitions; eliminating rebate payment limit;
22-amending approval process; modifying name of
44+modifying name of revolving fund; modifying purpose
45+of fund; creating the Oklahoma Emission Reduction
46+Technology Downstream Incentive Revolving Fund;
47+stating sources of fund; providing for expenditures
48+from fund; providing for transfer of funds under
49+certain circumstance; making appropriations to the
50+Oklahoma Tax Commission; directing depo sit in certain
51+funds; updating statutory language; updating
52+statutory references; providing an effective date;
53+and declaring an emergency.
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58+AUTHOR: Add the following House Coauthor: Archer
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60+AMENDMENT NO. 1. Strike the title, enacting clause, and entire bill
61+and insert:
62+
63+
64+"An Act relating to rebate payments; amending
65+Sections 2, 3, 4, and 5, Chapter 346, O.S.L. 2022 (68
66+O.S. Supp. 2023, Sections 550 07, 55008, 55009, and
67+55010), which relate to the Oklahoma Emission
68+Reduction Technology Incentiv e Act; modifying intent;
69+modifying definitions; elimi nating rebate payment
70+limit; amending approval process ; modifying name of
2371 revolving fund; modifying purpose of fund; creating
2472 the Oklahoma Emission Reduction Technology Downstream
2573 Incentive Revolving Fun d; stating sources of fund;
2674 providing for expenditures fro m fund; providing for
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27101 transfer of funds under certain circumstance;
28102 providing for proportional payment s; updating
29103 statutory language; updating statutory references;
30104 providing an effective date; and declaring an
31105 emergency.
32106
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34108
35-
36-SUBJECT: Oklahoma Emission Reduction Technology Incentive Act
37-
38109 BE IT ENACTED BY THE PE OPLE OF THE STATE OF OKLAHOMA:
39-
40110 SECTION 1. AMENDATORY Section 2, Chapter 346, O.S.L.
41111 2022 (68 O.S. Supp. 2023, Section 55007), is amended to read as
42112 follows:
43-
44113 Section 55007. The Legislature hereby finds that the reduction
45114 of emissions from upstream and, midstream, and downstream oil and
46115 gas production, exploration, completions, gatherings, storage,
47-
48-ENR. S. B. NO. 1505 Page 2
49116 processing, refining, distribution, and transmission activities
50117 serves the interests of the citizens of Oklahoma and such emission
51118 reduction activities with new and innovative technologies should be
52119 encouraged and incentivized.
53-
54120 SECTION 2. AMENDATORY Section 3, Chapter 346, O.S.L.
55121 2022 (68 O.S. Supp. 2023, Sectio n 55008), is amended to read as
56122 follows:
57-
58123 Section 55008. As used in the Oklahoma Emission Reduction
59124 Technology Incentive Act, "Emission Reduction Project " means and
60125 includes, but is not limited to:
61-
62126 1. Existing and new technology projects that reduce on-site
63127 emissions of regulated pollutants or carbon oxides from stationary
64128 sources; and
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66155 2. Existing and new tec hnology projects that reduce emissions
67156 from upstream and, midstream, and downstream oil and gas
68157 exploration, production, completions, gathering gatherings, storage,
69158 processing, refining, distribution, and transmission activities
70159 through the following:
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72160 a. the replacement, repair, or retrofit of stationary
73161 compressor engines,
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75162 b. the installation of systems and/or equipment to reduce
76163 or eliminate the loss of gas, venting of gas, flaring
77164 of gas, or burning of gas using other combustion
78165 control devices, or
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80166 c. the installation of systems and/or equipment to reduce
81167 the per barrel consumption of energy, or
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83168 d. the installation of emissions monitoring equipment o r
84169 devices.
85-
86170 SECTION 3. AMENDATORY Section 4, Chapter 346, O.S.L.
87171 2022 (68 O.S. Supp. 2023, Section 55009), is amended to read as
88172 follows:
89-
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92173 Section 55009. A. Upon the effective date of this act July 1,
93174 2022, there is hereby created t he Oklahoma Emission Reduction
94175 Technology Rebate Program. There is hereby created a rebate in the
95176 amount of up to twenty -five percent (25%) of doc umented expenditures
96177 made in this state directly attributable to the implementation of a
97178 qualified Emission R eduction Project.
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99205 B. The rebate program shall be administered by the Department
100206 of Environmental Quality and the Oklahoma Tax Commission, as
101207 provided in the Oklahoma Emission Reduction Technology Incentive
102208 Act.
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104209 C. To be eligible for a rebate payment:
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106210 1. The applicant responsible for the implementation of a
107211 qualified Emission Reduction Project in this state shall submit
108212 documentation to the Department of Environmental Quality no later
109213 than six (6) months after the end of the fiscal year in which the
110214 expenditures were made stating the amount of expenditures made in
111215 this state directly related to the implementation of the qualified
112216 Emission Reduction Pro ject. The Department of Environmental Quality
113217 shall additionally est ablish a process whereby an applicant may
114218 submit a payment for approval prior to the expenditure of funds.
115219 Any approval through this alternative process shall be subject to
116220 final approval as determined necessary by the Department of
117221 Environmental Quality ;
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119222 2. The applicant has filed all Okla homa tax returns and tax
120223 documents which are required by the laws of this state; and
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122224 3. The applicant shall provide evidence of a certificate of
123225 general liability insurance with a minimum coverage of One Million
124226 Dollars ($1,000,000.00) and a workers ' compensation policy pursuant
125227 to the laws of this state which shall include coverage of employer's
126228 liability.
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128255 D. The Department of Environmental Quality shall approve or
129256 disapprove all claims for a rebate payment and sh all notify the
130257 Oklahoma Tax Commission. The Tax Commission shall, upon
131258 notification of approval from the Department of Environmental
132259 Quality, issue a rebate payment for all approved claims from funds
133260 in the Oklahoma Emission Reduction Technology Upstream and Midstream
134-
135-ENR. S. B. NO. 1505 Page 4
136261 Incentive Revolving Fund created in Section 5 of this act and the
137262 Oklahoma Emission Reduction Technology Downstream Incentive
138263 Revolving Fund, both created in Section 55010 of this tit le. If the
139264 amount of the approved claims exceeds the amount available in either
140265 fund, during a fiscal year, payments shall be made proportionally to
141266 all the parties making a claim prior to the deadline which is
142267 approved by the Depar tment of Environmental Quality. Rebate
143268 payments from the fund shal l not exceed Ten Million Dollars
144269 ($10,000,000.00) in any fiscal year. If the amount of approved
145270 claims exceeds the amount specified in this subsection in a fiscal
146271 year, payments shall be made proportionately to all of the parties
147272 making a claim prior to th e deadline which is approved by the
148273 Department of Environmental Quality with the amount to be paid to
149274 each approved party being product of the individual claim amount
150275 times the percentage resulting from Ten Million Dollars
151276 ($10,000,000.00) divided by the total amount of approved claims for
152277 the period. If an approved claim is not paid in whole or in part,
153278 the unpaid claim or unpaid portion shall be paid in the following
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154305 fiscal years in the order in which the claims are approv ed by the
155306 Department.
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157307 E. Approved claims for rebate that exceed the balance of th e
158308 Oklahoma Emission Reduction Technology Upstream and Midstream
159309 Incentive Revolving Fund created in Section 5 of this act and the
160310 Oklahoma Emission Reduction Technology Downstream Incentive
161311 Revolving Fund, both created in Section 5501 0 of this title may be
162312 paid in part and the unpaid portion shall be paid upon the
163313 applicable fund reaching a sufficient balance in the order in which
164314 the claims are approved b y the Department.
165-
166315 SECTION 4. AMENDATORY Section 5, Chapter 346, O.S.L.
167316 2022 (68 O.S. Supp. 2023, Section 55010), is amended to read as
168317 follows:
169-
170318 Section 55010. A. There is hereby created in the State
171319 Treasury a revolving fund for the Oklahoma Tax Commission to be
172320 designated the "Oklahoma Emission Reduction Tech nology Upstream and
173321 Midstream Incentive Revolving Fund". The fund shall be a contin uing
174322 fund, not subject to fiscal year limitations, and shall consist of
175323 all monies received by the Tax Commission from any publ ic or private
176324 donations, contributions, and g ifts received for the benef it of the
177325 fund and any amounts appropriated by the Oklahoma Legislature
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180326 designated for deposit in the fund. All monies accruing to the
181327 credit of the fund are hereby appropriated and may be budgeted and
182328 expended by the Tax Commis sion for the purpose of pay ing rebates for
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183355 emission reduction projects, except for p rojects pertaining to
184356 refining activities, as provided in this act the Oklahoma Emission
185357 Reduction Technology Incentive Act . Expenditures from the fund
186358 shall be made upon warrants issued by the Stat e Treasurer against
187359 claims filed as prescribed by law wit h the Director of the Office of
188360 Management and Enterprise Services for approval and payment. Any
189361 remaining unencumbered balance upon the cessation of the Oklahoma
190362 Emission Reduction Technology Rebat e Program, as provided in Section
191363 7 55012 of this act title, shall be transferred to the General
192364 Revenue Fund of the State of Oklahoma this state.
193-
194365 B. There is hereby created in the State Treasury a revolving
195366 fund for the Oklahoma Tax Commission to be designated the "Oklahoma
196367 Emission Reduction Technology Downst ream Incentive Revolving Fund".
197368 The fund shall be a continuing fund, not subject to fiscal year
198369 limitations, and shall consist of all monies received by th e Tax
199370 Commission from any public o r private donations, contributions, and
200371 gifts received for the ben efit of the fund and any amounts
201372 appropriated by the Legislature designated for deposit in the fund.
202373 All monies accruing to the credit of the fund are here by
203374 appropriated and may be budgeted and expended by the Tax Commission
204375 for the purpose of paying reb ates for emission reduction projects
205376 pertaining to refining activities as provi ded in this act.
206377 Expenditures from the fund shall be made upon warrants issu ed by the
207378 State Treasurer against cl aims filed as prescribed by law with the
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208405 Director of the Office of Management and Enterprise Services for
209406 approval and payment. Any remaining unencumbered balance upon the
210407 cessation of the Oklahoma Emission Reduction Te chnology Rebate
211408 Program, as provided in Section 55012 of this title, shall be
212409 transferred to the Gen eral Revenue Fund of this state.
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214410 SECTION 5. This act shall become effective July 1, 2024.
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216411 SECTION 6. It being immediately necessary for the preservation
217412 of the public peace, health or safety, an emergency is hereby
218413 declared to exist, by reason whereof this act shall take effect and
219-be in full force from and after its passage and approval.
414+be in full force from and after its passage and approval. "
415+Passed the House of Representatives the 17th day of April, 2024.
220416
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223-Passed the Senate the 21st day of May, 2024.
418+
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420+ Presiding Officer of the House
421+ of Representatives
422+
423+
424+Passed the Senate the ____ day of __________, 2024.
425+
224426
225427
226428
227429 Presiding Officer of the Senate
228430
229431
230-Passed the House of Representatives the 17th day of April, 2024.
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457+ENGROSSED SENATE
458+BILL NO. 1505 By: Paxton of the Senate
459+
460+ and
461+
462+ Boles of the House
463+
464+
465+
466+
467+An Act relating to rebate payments; amending Sections
468+2, 3, 4, and 5, Chapter 346, O.S.L. 2022 (68 O.S.
469+Supp. 2023, Sections 55007, 55008, 55009, and 55010),
470+which relate to the Oklahoma Emission Reduction
471+Technology Incentive Act; modifying intent; modifying
472+definitions; eliminating rebate payment limit;
473+modifying name of revolving fund; modifying purpose
474+of fund; creating the Oklahoma Emission Reduction
475+Technology Downstream Incentive Revolving Fund;
476+stating sources of fund; providing for expenditures
477+from fund; providing for transfer of funds under
478+certain circumstance; making appropriations to the
479+Oklahoma Tax Commission; directing deposit in certain
480+funds; updating statutory language; updating
481+statutory references; providing an effective date;
482+and declaring an emergency.
483+
484+
485+
486+
487+BE IT ENACTED BY THE P EOPLE OF THE STATE OF OKLAHOMA:
488+SECTION 7. AMENDATORY Section 2, Chapter 346, O.S.L.
489+2022 (68 O.S. Supp. 2023, Section 55007), is amended to read as
490+follows:
491+Section 55007. The Legislature hereby finds that the reduction
492+of emissions from upstream, and midstream, and downstream oil and
493+gas production, exploration, completions, gatherings, storage,
494+processing, refining, and transmission activities serves the
495+interests of the citizens of Oklahoma and such emission reduction
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522+activities with new and innovative technologies should be encouraged
523+and incentivized.
524+SECTION 8. AMENDATORY Section 3, Chapter 346, O.S.L.
525+2022 (68 O.S. Supp. 2023, Section 55008), is amended to read as
526+follows:
527+Section 55008. As used i n the Oklahoma Emission Reduction
528+Technology Incentive Act, “Emission Reduction Project ” means and
529+includes, but is not l imited to:
530+1. Existing and new technology projects that reduce on-site
531+emissions of regulated pollutants or carbon oxides from stationary
532+sources; and
533+2. Existing and new technology projects that reduce emissions
534+from upstream, and midstream, and downstream oil and gas
535+exploration, production, completions, gathering gatherings, storage,
536+processing, refining, and transmission activities through the
537+following:
538+a. the replacement, repair, or retrofit of stationary
539+compressor engines,
540+b. the installation of s ystems and/or equipment to reduce
541+or eliminate the loss of gas, venting of gas, flaring
542+of gas, or burning o f gas using other combustio n
543+control devices, or
544+c. the installation of systems and/or equipment to reduce
545+the per barrel consumption of energy, or
546+
547+ENGR. S. B. NO. 1505 Page 3 1
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572+d. the installation of emissions monitoring equipment or
573+devices.
574+SECTION 9. AMENDATORY Section 4, Chapter 34 6, O.S.L.
575+2022 (68 O.S. Supp. 2023, Section 55009), is amended to read as
576+follows:
577+Section 55009. A. Upon the effective date of this act July 1,
578+2022, there is hereby created the Oklahoma Emission Reduction
579+Technology Rebate Pr ogram. There is hereby cre ated a rebate in the
580+amount of up to twenty -five percent (25%) of documented expenditures
581+made in this state directly att ributable to the implementation of a
582+qualified Emission Reduction Project.
583+B. The rebate program shall be administered by the Departme nt
584+of Environmental Quality and the Oklahoma Tax Commission, as
585+provided in the Oklahoma Emission Reduction Technology In centive
586+Act.
587+C. To be eligible for a rebate payment:
588+1. The applicant responsible for the implementation o f a
589+qualified Emission Redu ction Project in this state shall submit
590+documentation to the Department of Environmental Quality no later
591+than six (6) months after the end of the fiscal year in which the
592+expenditures were made stating the amount of expenditures made in
593+this state directly related to the implementation of the qualified
594+Emission Reduction Project;
595+
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621+2. The applicant has filed all Oklahoma ta x returns and tax
622+documents which are required by the laws of this state; and
623+3. The applicant shall provid e evidence of a certificate of
624+general liability insurance with a minimum coverage of One Million
625+Dollars ($1,000,000.00) and a workers ’ compensation policy pursuant
626+to the laws of this state which shall include coverage of employer ’s
627+liability.
628+D. The Department of Environmental Q uality shall approve or
629+disapprove all claims for a rebate payment and shall notify the
630+Oklahoma Tax Commission. The Tax Commission shall, upon
631+notification of approval from the Department of Environmental
632+Quality, issue a rebat e payment for all approved claims from funds
633+in the Oklahoma Emission Reduction Technology Upstream and Midstream
634+Incentive Revolving Fund created i n Section 5 of this act Section
635+55010 of this title and the Oklahoma Emission Reduction Technology
636+Downstream Incentive Revolving Fund created in Section 55010 of this
637+title. Rebate payments from th e fund shall not exceed Ten Million
638+Dollars ($10,000,000. 00) in any fiscal year. If the amount of
639+approved claims exceeds the amount specified in this subsection in a
640+fiscal year, payments sh all be made proportionately to all of the
641+parties making a claim prior to the deadline which is approved by
642+the Department of Environmental Quality with the amount to be paid
643+to each approved party being product of the individual claim amount
644+times the percentage resulting from Ten Million Dollars
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671+($10,000,000.00) divided by the total amount of approved claims for
672+the period. If an approved claim is not paid in whole or in part,
673+the unpaid claim or unpaid portion shall be paid in the following
674+fiscal years in the order in which the claims are approved by the
675+Department.
676+E. Approved claims for rebate that exceed the balance of the
677+Oklahoma Emission Reduction Technology Upstream and Midstream
678+Incentive Revolving Fund created in Section 5 of this act Section
679+55010 of this title and the Oklahoma Emission Reduction Technology
680+Downstream Incentive Revolving Fund created in Section 55010 of this
681+title may be paid in part and the unpaid portion shall be paid upon
682+the applicable fund reaching a sufficient balance in the order in
683+which the claims are approved by the Department.
684+SECTION 10. AMENDATORY Section 5, Chapter 346, O.S.L.
685+2022 (68 O.S. Supp. 2023, Section 55010), is amended to read as
686+follows:
687+Section 55010. A. There is hereby creat ed in the State
688+Treasury a revolving fund for the Oklahoma Tax Commission to be
689+designated the “Oklahoma Emission Reducti on Technology Upstream and
690+Midstream Incentive Revolving Fund ”. The fund shall be a continuing
691+fund, not subject to fiscal year limita tions, and shall consist of
692+all monies received by the Tax Commission from any public or private
693+donations, contributions , and gifts received for the benefit of the
694+fund and any amounts appropriated by the Oklahoma Legislature
695+
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721+designated for deposit in the fund. All monies accruing to the
722+credit of the fund are hereby appropriated and may be budgeted and
723+expended by the Tax Commission for the purpose of paying rebates for
724+emission reduction projects, except for projects pertainin g to
725+refining activities, as provided in this act the Oklahoma Emission
726+Reduction Technology Incentive Act . Expenditures from the fund
727+shall be made upon warrants issued by the State Treasurer against
728+claims filed as prescribed by law with the Director of the Office of
729+Management and Enterprise Services for approval and payment. Any
730+remaining unencumbered balance upon the cessation of the Oklahoma
731+Emission Reduction Technology Rebate Program, as provided in Section
732+7 of this act Section 55012 of this titl e, shall be transferred to
733+the General Revenue Fund of the State of Oklahoma this state.
734+B. There is hereby created in the State Treasury a revolvi ng
735+fund for the Oklahoma Tax Commission to be designated the “Oklahoma
736+Emission Reduction Technology Downstream Incentive Revolving Fun d”.
737+The fund shall be a continuing fund, not subject to fiscal year
738+limitations, and shall consist of all monies receive d by the Tax
739+Commission from any public or private donations, contributions, and
740+gifts received for the bene fit of the fund and any amo unts
741+appropriated by the Legislature designated for deposit in the fund.
742+All monies accruing to the credit of the fund a re hereby
743+appropriated and may be budgeted and expended by the Tax Commission
744+for the purpose of paying rebates for emission reduction projects
745+
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771+pertaining to refining activities as provided in this act.
772+Expenditures from the fund shall be made upon warran ts issued by the
773+State Treasurer against claims filed as prescribed by law with the
774+Director of the Office o f Management and Enterprise Services for
775+approval and payment. Any remaining unencumbered balance upon the
776+cessation of the Oklahoma Emission Reduc tion Technology Rebate
777+Program, as provided in Section 55012 of this title, shall be
778+transferred to the General Revenue Fund of this state.
779+SECTION 11. There is hereby appropriated to the Oklahoma Tax
780+Commission for deposit in the Oklahoma Emission Reduction Technology
781+Upstream and Midstream Incentive Revolving Fund from any monies not
782+otherwise appropriated from the Gener al Revenue Fund of the State
783+Treasury for the fiscal year ending June 30, 2023, the sum of Thirty
784+Million Dollars ($30,00 0,000.00).
785+SECTION 12. There is hereby appropriated to the Oklahoma Tax
786+Commission for deposit in the Oklahoma Emission Reduction Technology
787+Downstream Incentive Revolving Fund from any monies not otherwise
788+appropriated from the General Rev enue Fund of the State Treasury for
789+the fiscal year ending June 30, 2023, the sum of Twenty Million
790+Dollars ($20,000,000.00).
791+SECTION 13. This act shall become effective July 1, 2024.
792+SECTION 14. It being immediately necessa ry for the preservation
793+of the public peace, health or safety, an emergency is hereby
794+
795+ENGR. S. B. NO. 1505 Page 8 1
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820+declared to exist, by reason whereof this act sha ll take effect and
821+be in full force from and after its passage and approval.
822+Passed the Senate the 11th day of March, 2024.
823+
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825+
826+ Presiding Officer of the Senate
827+
828+
829+Passed the House of Representatives the ____ day of __________,
830+2024.
231831
232832
233833
234834 Presiding Officer of the House
235835 of Representatives
236836
237-OFFICE OF THE GOVERNOR
238-Received by the Office of the Governor this _______ _____________
239-day of _________________ __, 20_______, at _______ o'clock _______ M.
240-By: _________________________________
241-Approved by the Governor of the State of Oklahoma this _______ __
242-day of _________________ __, 20_______, at _______ o'clock _______ M.
243837
244- _________________________________
245- Governor of the State of Oklahoma
246-
247-
248-OFFICE OF THE SECRETARY OF STATE
249-Received by the Office of the Secretary of State this __________
250-day of _________________ _, 20 _______, at _______ o'clock _______ M.
251-By: _________________________________