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STATE OF OKLAHOMA
1st Session of the 60th Legislature (2025)
HOUSE BILL 2236 By: Munson
AS INTRODUCED
An Act relating to economic development ; defining
terms; establishing the College Graduate Retention
Incentive Partnership program; provi ding for
incentive payment to certain college graduates;
providing requirements for certain agreement;
requiring the Department of Commerce to advertise
program; requiring Department maintain certain list;
providing for codification; providing an effective
date; and declaring an 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 5091 of Title 74, unless there
is created a duplication in numbering, reads as follows:
A. As used in this section:
1. "Department" means the Oklahoma Department of Commerce;
2. "Eligible institution of higher education " means any public
or private institution of higher education in the state ;
3. "Graduate" means a student who graduates from an eligible
institution of higher education on or after the effective date of
this act;
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4. "Incentive" means a monetary award given each year , for not
more than four (4) years, by a participating employe r to a graduate
which may be paid to the graduate or to an entity servicing the
graduate's student loans;
5. "Participating employer " means any person, firm,
corporation, partnership, association, the state, any political
subdivision of the state, or any other entity which is engaged in a
business or in providing services and which employs employees in
connection with such business or services who enters into a
participating employer agreement to provide an incentive to a
graduate; and
6. "Participating employer agreement" means an agreement
prepared by the Department.
B. There is hereby established the College Graduate Retention
Incentive Partnership (GRIP) program which shall be administered by
the Department. The purpose of GRIP is to recruit and reta in
graduates from eligible institutions of higher education and provide
incentives to those graduates to work in the state.
C. A graduate who obtains employment with a participating
employer and executes a participating employer agreement shall
receive an incentive of not less than One Thousand Dollars
($1,000.00) each year for the first four (4) years of the graduate 's
employment with the participating employer. The agreement shall be
signed by an authorized agent of the participating employer. The
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participating employer shall retain a copy of each signed agreement
in its files.
D. The Department shall, in cooperation with the Oklahoma State
Regents for Higher Education, advertise to Oklahoma employers and
students the details of GRIP through print and electronic media.
The Department shall maintain a list of employers who have a valid
participating employer agreement and shall make the list available
on the Department's public website.
SECTION 2. This act shall become effective July 1, 2025.
SECTION 3. It being immediately necessary for the pres ervation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its pas sage and approval.
60-1-11079 AQH 12/28/24