Oklahoma 2025 Regular Session

Oklahoma Senate Bill SB718 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SENATE FLOOR VERSION - SB718 SFLR Page 1
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29		-	SENATE FLOOR VERSION
30		-	February 19, 2025
31		-	AS AMENDED
	53	+	STATE OF OKLAHOMA
32	54
33		-	SENATE BILL NO. 718 By: Daniels
	55	+	1st Session of the 60th Legislature (2025)
	56	+
	57	+	SENATE BILL 718 By: Daniels
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36	60
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38	62
39		-	~~[ credit against tax - repealers - effective date ]~~
	63	+	AS INTRODUCED
40	64
	65	+	An Act relating to the Oklahoma Capital Investment
	66	+	Board; amending 68 O.S. 2021, Section 2357.7, which
	67	+	relates to credit against tax for investments in
	68	+	qualified venture capital companies; updating
	69	+	statutory language; amending 74 O.S. 2021, Sections
	70	+	85.42 and 3601.1, as last amended by Section 36,
	71	+	Chapter 29, O.S.L. 2023 (74 O.S. Supp. 2024, Section
	72	+	3601.1), which relate to the Oklahoma Central
	73	+	Purchasing Act and the State Employment Review Board;
	74	+	conforming language; updating statutory language;
	75	+	updating statutory reference; repealing 74 O.S. 2021,
	76	+	Sections 5085.1 through 5085.16, which relate to the
	77	+	Oklahoma Capital Investment Board; and providing an
	78	+	effective date.
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45	83		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
46	84		SECTION 1. AMENDATORY 68 O.S. 2021, Section 2357.7, is
47	85		amended to read as follows:
48	86		Section 2357.7. A. For taxable years beginning aft er December
49	87		31, 1986, and before January 1, 2009, there shall be allowed a
50	88		credit against the tax imposed by Section 2355 of this title or
51	89		Section 624 of Title 36 of the Oklahoma Statutes for investments in
52	90		qualified venture capital companies whose purpose is to establish or
53	91		expand the development of business and industry within Oklahoma.
54		-	Provided, tax credits against liabilities imposed pursuant to
55		-	Section 624 of Title 36 of the Oklahoma Statutes shall be limited to
56		-	the amount that would otherwise be collected and allocated to the
57		-	General Revenue Fund of the State Treasury.
58		-	B. For purposes of this section:
59		-	1. “Qualified venture capital company ” means a C corporation,
60		-	as defined by the Internal Revenue Code of 1986, as amended,
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62		-	SENATE FLOOR VERSION - SB718 SFLR Page 2
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	143	+	Provided, tax credits against liabilities imposed pursuant to
	144	+	Section 624 of Title 36 of the Oklahoma Statutes shall be limited to
	145	+	the amount that would otherwise be coll ected and allocated to the
	146	+	General Revenue Fund of the State Treasury.
	147	+	B. For purposes of this section:
	148	+	1. “Qualified venture capital company ” means a C corporation,
	149	+	as defined by the Internal Revenue Code of 1986, as amended,
88	150		incorporated pursuant to th e laws of Oklahoma or a registered
89	151		business partnership with a certificate of partnership filed as
90	152		required by law if such corporation or partnership is organized to
91	153		provide the direct investment of debt and equity funds to companies
92	154		within this state, wit h its principal place of business located
93	155		within this state and which meets th e following criteria:
94	156		a. capitalization of not less than Five Million Dollars
95	157		($5,000,000.00),
96	158		b. having a purpose and objective of investing at least
97	159		seventy-five percent (75%) of its capitalization in
98	160		Oklahoma business ventures. The temporary investment
99	161		of funds by a qualified venture capital company in
100	162		obligations of the United States, state and municipal
101	163		bonds, bank certificates of deposit, or money market
102	164		securities pending investment in Oklahoma business
103	165		ventures is hereby authorized, and
104		-	c. investment of not more than ten percent (10%) of its
105		-	funds in any one company;
106		-	2. “Oklahoma business venture ” means a business, incorporated
107		-	or unincorporated, which:
108		-	a. has or will have, within one hundred eighty (180) days
109		-	after an investment is made by a qualified venture
110		-	capital company, at least fifty percent (50%) of its
111		-	employees or assets located in Oklahoma,
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	217	+	c. investment of not more than ten percent (10%) of its
	218	+	funds in any one company;
	219	+	2. “Oklahoma business venture ” means a business, incorporated
	220	+	or unincorporated, which:
	221	+	a. has or will have, within one hundred eighty (180) days
	222	+	after an investment is made by a qualified venture
	223	+	capital company, at least fifty percent (50%) of its
	224	+	employees or assets located in Oklahoma,
139	225		b. needs financial assistance in order to commence or
140	226		expand such business which provides or intends to
141	227		provide goods or services,
142	228		c. is not engaged in oil and gas exploration, real estate
143	229		development, real estate sales, retail sales of food
144	230		or clothing, farming, ranching, banking, or lending or
145	231		investing funds in other busin esses. Provided,
146	232		however, businesses which provide or intend to provide
147	233		goods or services, including, but not limited to,
148	234		goods or services involving new technology, equipment,
149	235		or techniques to such businesses listed in this
150	236		subparagraph, and investments in the development of
151	237		tourism facilities in the form of amusement parks,
152	238		entertainment parks, theme parks, golf courses, or
153	239		museums shall not be subject to said such prohibition,
154	240		and
155		-	d. expends within eighteen (18) months after the date of
156		-	the investment at least fifty percent (50%) of the
157		-	proceeds of the investment for the acquisition of
158		-	tangible or intangible assets which are used in the
159		-	active conduct of the trade or business of the
160		-	Oklahoma business venture or to provide working
161		-	capital for the active conduct of such trade or
162		-	business. For purposes of this subparagraph, “working
163	241
164		-	SENATE FLOOR VERSION - SB718 SFLR Page 4
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	292	+	d. expends within eighteen (18) months after the date of
	293	+	the investment at least fifty percent (50%) of the
	294	+	proceeds of the investment for the acquisition of
	295	+	tangible or intangible assets which are used in the
	296	+	active conduct of the trade or business of the
	297	+	Oklahoma business venture or to provide working
	298	+	capital for the active c onduct of such trade or
	299	+	business. For purposes of this subparagraph, “working
190	300		capital” shall not include consulting, brokerage or
191	301		transaction fees. Provided, that the Oklahoma Tax
192	302		Commission, upon request and demonstration of need by
193	303		a qualified venture capital company or an Oklahoma
194	304		business venture, may extend the eighteen -month period
195	305		otherwise required by this subparagraph for a period
196	306		not to exceed six (6) months. Provided, the
197	307		expenditure of the invested funds by the Oklahoma
198	308		business venture shall otherwise comply with the
199	309		requirements applicable to the usage of tax credits
200	310		for investment in the Oklahoma business venture. As
201	311		used in this subparagraph, “tangible assets” shall
202	312		include the acquisition of real property and the
203	313		construction of improvem ents upon real property if
204	314		such acquisition and construction otherwise complies
205	315		with the requirements applicable to the usage of tax
206		-	credits for investment in the Oklahoma business
207		-	venture and “intangible assets” shall be limited to
208		-	computer software, licenses, patents, copyrights, and
209		-	similar items;
210		-	3. “Direct investment” means the purchase of securities of a
211		-	private company, or securities of a public c ompany if the securities
212		-	constitute a new issue of a public company and such public company
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214		-	SENATE FLOOR VERSION - SB718 SFLR Page 5
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	367	+	credits for investment in the Oklahoma business
	368	+	venture and “intangible assets” shall be limited to
	369	+	computer software, lice nses, patents, copyrights, and
	370	+	similar items;
	371	+	3. “Direct investment” means the purchase of securities of a
	372	+	private company, or securities of a public company if the securities
	373	+	constitute a new issue of a public company and such public company
240	374		had previous year sales of less than Ten Million Dollars
241	375		($10,000,000.00); and
242	376		4. “Debt and equity funds ” means investments in debt
243	377		securities; including unsecured, undersecured, subordinated or
244	378		convertible loans or debt securities; and/or equity securities,
245	379		including common and preferred stock, royalty rights, limited
246	380		partnership interest, an d any other securities or rights that
247	381		evidence ownership in businesses; provided such investment of debt
248	382		and equity funds shall not have a repayment schedule that is faster
249	383		than a level principal amortization over five (5) years.
250	384		C. The credit provided for in subsection A of this section
251	385		shall be twenty percent (20%) of the cash amount invested in
252	386		qualified venture capital companies which is subsequently invested
253	387		in an Oklahoma business venture by the qualified venture capital
254	388		company and may only be claim ed for a taxable year during which the
255	389		qualified venture capital company makes an investment in an Oklahoma
256	390		business venture. The credit shall be allowed for the amount of the
257		-	investment in an Oklahoma business v enture if the funds are used in
258		-	pursuit of a legitimate business purpose of the Oklahoma business
259		-	venture consistent with its organizational instrument, bylaws or
260		-	other agreement responsible for the governance of the business
261		-	venture. The qualified venture capital company shall issue such
262		-	reports as the Oklahoma Tax Commission may require attributing the
263		-	source of funds of each investment it makes in an Oklahoma business
264	391
265		-	SENATE FLOOR VERSION - SB718 SFLR Page 6
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	442	+	investment in an Oklahoma business venture if the funds are used in
	443	+	pursuit of a legitimate business purpose of the Oklahoma business
	444	+	venture consistent with its organizational instrument, bylaws or
	445	+	other agreement responsible for the governance of the busi ness
	446	+	venture. The qualified venture capital company shall issue such
	447	+	reports as the Oklahoma Tax Commission may require attributing the
	448	+	source of funds of each investment it makes in an Oklahoma business
291	449		venture. The Oklahoma Capital Investment Board sha ll have the
292	450		authority to certify an entity as a qualified venture capital
293	451		company and to certify an investment to be a qualifying Oklahoma
294	452		business venture for purposes of complying with subsection B of this
295	453		section. Such certification shall be binding on the Oklahoma Tax
296	454		Commission. Such certification shall not be mandatory but m ay be
297	455		requested by any entity that desires to be certified. A reasonable
298	456		certification fee may be charged by the Oklahoma Capital Investment
299	457		Board for this service. If the tax credit allowed pursuant to
300	458		subsection A of this section exceeds the amount of taxes due or if
301	459		there are no state taxes due of the taxpayer, the amount of the
302	460		claim not used as an offset against the taxes of a taxable year may
303	461		be carried forward as a credit against subsequent tax liability for
304	462		a period not to exceed three (3) years. No investor in a venture
305	463		capital company organized after July 1, 1992, may claim tax credits
306	464		under the provisions of this section.
307		-	D. No taxpayer may claim the credit provided for in subsection
308		-	A of this section for investments in qualified venture capital
309		-	companies made prior to January 1, 1987.
310		-	E. No investor whose capital is guaranteed by the Oklahoma
311		-	Capital Investment Board may claim or transfer the credit provided
312		-	for in subsection A of this section for investments in such
313		-	guaranteed portfolio.
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	516	+	D. No taxpayer may claim the credit provided for in subsection
	517	+	A of this section for investments in qualified venture capital
	518	+	companies made prior to January 1, 1987.
	519	+	E. No investor whose capital is guaranteed by the Oklahoma
	520	+	Capital Investment Board may claim or transfer the credit provided
	521	+	for in subsection A of this section for investments in such
	522	+	guaranteed portfolio.
341	523		F. The credit provided for in subsection A of this section, to
342	524		the extent not previously utilized, shall be freely transferable to
343	525		and by subsequent transferees for a period of thr ee (3) years from
344	526		the date of investment in the Oklahoma business venture.
345	527		G. F. If a pass-through entity is entitled to a credit under
346	528		this section, the pass -through entity shall allocate such credit to
347	529		one or more of the shareholders, partners or member s of the pass-
348	530		through entity; provided, the total of all credits allocated sha ll
349	531		not exceed the amount of the credit to which the pass -through entity
350	532		is entitled. The credit may also be claimed for funds borrowed by
351	533		the pass-through entity to make a quali fied investment if a
352	534		shareholder, partner or member to whom the credit is allocated has
353	535		an unlimited and continuing legal obligation to repay the borrowed
354	536		funds but the allocation may not exceed such shareholder ’s,
355	537		partner’s or member’s pro-rata equity share of the pass-through
356	538		entity even if the taxpayer ’s legal obligation to repay the borrowed
357	539		funds is in excess of such pro -rata share of such borrowed funds.
358		-	For purposes of this act the Oklahoma Income Tax Act , “pass-through
359		-	entity” means a corporation that for the applicable tax years is
360		-	treated as an S corporation under the Internal Revenue Code of 1986,
361		-	as amended, general partnership, limited partne rship, limited
362		-	liability partnership, trust or limited liability company that for
363		-	the applicable tax year is not taxed as a corporation for federal
364		-	income tax purposes.
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	591	+	For purposes of this act the Oklahoma Income Tax Act , “pass-through
	592	+	entity” means a corporation t hat for the applicable tax years is
	593	+	treated as an S corporation under the Internal Revenue Code of 1986,
	594	+	as amended, general partnership, limited partnership, limited
	595	+	liability partnership, trust or limited liability company that for
	596	+	the applicable tax yea r is not taxed as a corporation for federal
	597	+	income tax purposes.
392	598		SECTION 2. AMENDATORY 74 O.S. 2021, Section 85.42, is
393	599		amended to read as follows:
394	600		Section 85.42. A. 1. Except as otherwise provided for in this
395	601		section or other applicable law, any agency, whether or not such
396	602		agency is subject to the Oklahoma Central Purchasing Act, is
397	603		prohibited from entering into a sole source contract or a contract
398	604		for professional services with or for the services of any person ,
399	605		who has terminated employment with or who has been terminated by
400	606		that agency for one (1) year after the termination date of the
401	607		employee from the agency. The provisions of this subsection shall
402	608		not prohibit an agency from hiring or rehiring such person as a
403	609		state employee.
404	610		2. Any chief administrative officer of an agency, whether or
405	611		not such agency is subject to the Oklahoma Central Purchasing Act,
406	612		shall not enter into any contract for nonprofessional or
407	613		professional services for the purpose of or which would result in
408		-	the circumvention of the full -time equivalent employee limitation
409		-	established by law for such agency.
410		-	B. Each contract entered into by any person or fi rm with the
411		-	State of Oklahoma this state shall include a statement certifying
412		-	that no person who has been involved in any manner in the
413		-	development of that contract while employed by the state shall be
414		-	employed to fulfill any of the services provided for u nder the
415		-	contract. This subsection shall not preclude faculty and staff of
416	614
417		-	SENATE FLOOR VERSION - SB718 SFLR Page 9
418		-	(Bold face denotes Committee Amendments) 1
	615	+
	616	+	Req. No. 605 Page 9 1
	617	+	2
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	637	+	22
	638	+	23
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	640	+	1
419	641		2
420	642		3
421	643		4
422	644		5
423	645		6
424	646		7
425	647		8
426	648		9
427	649		10
428	650		11
429	651		12
430	652		13
431	653		14
432	654		15
433	655		16
434	656		17
435	657		18
436	658		19
437	659		20
438	660		21
439	661		22
440	662		23
441	663		24
442	664
	665	+	the circumvention of the full -time equivalent employee limitation
	666	+	established by law for such agency.
	667	+	B. Each contract entered into by any person or firm with the
	668	+	State of Oklahoma this state shall include a statement certifying
	669	+	that no person who has bee n involved in any manner in the
	670	+	development of that contract while employed by the state shall be
	671	+	employed to fulfill any of the services provided for under the
	672	+	contract. This subsection shall not preclude faculty and staff of
443	673		the institutions within The Oklahoma State System of Higher
444	674		Education from negotiating and participating i n research grants and
445	675		educational contracts. Nor shall this subsection apply to Oklahoma
446	676		Department of Commerce personnel who contract to provide services to
447	677		the Oklahoma Capital Investment Board.
448	678		C. As used in this section, person “person” is defined as any
449	679		state official or employee of a department, board, bureau,
450	680		commission, agency, trusteeship, authority, council, committee,
451	681		trust, school district, fair board, court, executi ve office,
452	682		advisory group, task force, study group, supported in whole or in
453	683		part by public funds or entrusted with the expenditure of public
454	684		funds or administering or operating public property, and all
455	685		committees, or subcommittees thereof, judges, justice s and state
456	686		legislators.
457		-	D. Notwithstanding anything to the contrary in this section,
458		-	the following sole source or professional services contracts are
459		-	allowed at any time:
460		-	1. A contract for professional services at any time with a
461		-	person who is a qualified interpreter for the deaf; and
462		-	2. A contract between a business entity that is a part -time
463		-	certified court reporter and the Administrative Office of the
464		-	Courts, on behalf of the district courts, or the Office of the
465		-	Attorney General.
466	687
467		-	SENATE FLOOR VERSION - SB718 SFLR Page 10
468		-	(Bold face denotes Committee Amendments) 1
	688	+
	689	+	Req. No. 605 Page 10 1
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469	714		2
470	715		3
471	716		4
472	717		5
473	718		6
474	719		7
475	720		8
476	721		9
477	722		10
478	723		11
479	724		12
480	725		13
481	726		14
482	727		15
483	728		16
484	729		17
485	730		18
486	731		19
487	732		20
488	733		21
489	734		22
490	735		23
491	736		24
492	737
	738	+	D. Notwithstanding anything to the contrary in this section,
	739	+	the following sole source or professional services contracts are
	740	+	allowed at any time:
	741	+	1. A contract for professional services at any time with a
	742	+	person who is a qualifi ed interpreter for the deaf; and
	743	+	2. A contract between a business entity that is a part-time
	744	+	certified court reporter and the Administrative Office of the
	745	+	Courts, on behalf of the district courts, or the Office of the
	746	+	Attorney General.
493	747		E. Provided the provisions specified in subsection B of this
494	748		section are satisfied, the following professional services contracts
495	749		are allowed:
496	750		1. The Department of Transportation, Oklahoma Water Resources
497	751		Board, Department of Environmental Quality, Oklahoma Tourism and
498	752		Recreation Department, the Oklahoma Turnpike Authority and the
499	753		Oklahoma Department of Agriculture, Food, and Forestry may contract
500	754		with a person who has retired from state service;
501	755		2. To maintain public health infrastructure and preparedness,
502	756		the State Department of Health and city -county health departments
503	757		may contract with a physician assistant, registered nurse Registered
504	758		Nurse, advanced practice nurse, nurse midwife Nurse-Midwife,
505	759		registered dietician, occupational therapist, physical therapist or
506	760		speech-language pathologist who has retired from state service; and
507		-	3. The Department of Mental Health and Substance Abuse Services
508		-	may contract with a physic ian, registered nurse Registered Nurse,
509		-	registered pharmacist or person meeting the definition of a licensed
510		-	mental health professional, as defined in Title 43A of the Oklahoma
511		-	Statutes, who has separated and/or retired from state service.
512		-	SECTION 3. AMENDATORY 74 O.S. 2021, Section 3601.1, as
513		-	last amended by Section 36, Chapter 29, O.S.L. 2023 (74 O.S. Supp.
514		-	2024, Section 3601.1), is amended to read as follows:
515		-	Section 3601.1. A. For purposes of Sections 3601.1 through
516		-	3603 of this title, the term “employee” means a full-time employee
517	761
518		-	SENATE FLOOR VERSION - SB718 SFLR Page 11
519		-	(Bold face denotes Committee Amendments) 1
	762	+
	763	+	Req. No. 605 Page 11 1
	764	+	2
	765	+	3
	766	+	4
	767	+	5
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520	788		2
521	789		3
522	790		4
523	791		5
524	792		6
525	793		7
526	794		8
527	795		9
528	796		10
529	797		11
530	798		12
531	799		13
532	800		14
533	801		15
534	802		16
535	803		17
536	804		18
537	805		19
538	806		20
539	807		21
540	808		22
541	809		23
542	810		24
543	811
	812	+	3. The Department of Mental Health and Substance Abuse Services
	813	+	may contract with a physician, registered nurse Registered Nurse,
	814	+	registered pharmacist or person meeting the definition of a lice nsed
	815	+	mental health professional, as defined in Title 43A of the Oklahoma
	816	+	Statutes, who has separated and/or retired from state service.
	817	+	SECTION 3. AMENDATORY 74 O.S. 2021, Section 3601.1, as
	818	+	last amended by Section 36, Chapter 29, O.S.L. 2023 (74 O.S. Supp.
	819	+	2024, Section 3601.1), is amended to read as follo ws:
	820	+	Section 3601.1. A. For purposes of Sections 3601.1 through
	821	+	3603 of this title, the term “employee” means a full-time employee
544	822		or any number of part -time employees whose com bined weekly hours of
545	823		employment equal those of a full -time employee, but shall not
546	824		include temporary employees working on a seasonal basis between May
547	825		1 and October 31.
548	826		B. Beginning July 1, 2008, the maximum number of full -time-
549	827		equivalent employees for e ach of the following agencies, boards,
550	828		commissions, departments, or programs s hall not exceed the numbers
551	829		specified in this section, except as may be authorized pursuant to
552	830		the provisions of Section 3603 of this title.
553	831		MAXIMUM NUMBER OF
554	832		FULL-TIME-EQUIVALENT
555	833		EMPLOYEES
556	834		Oklahoma Employment Security Commission 1150
557	835		Oklahoma Accountancy Board 11
558		-	Board of Governors of the Licensed Architects,
559		-	Landscape Architects and Registered Commercial
560		-	Licensed Interior Designers of Oklahoma 4
561		-	Board of Chiropractic Examiners 3
562		-	State Board of Cosmetology and Barbering 16
563		-	Board of Dentistry 10
564		-	Oklahoma Funeral Board 5
565		-	State Board of Licensure for Professional
566		-	Engineers and Land Surveyors 10
567	836
568		-	SENATE FLOOR VERSION - SB718 SFLR Page 12
569		-	(Bold face denotes Committee Amendments) 1
	837	+
	838	+	Req. No. 605 Page 12 1
	839	+	2
	840	+	3
	841	+	4
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	855	+	18
	856	+	19
	857	+	20
	858	+	21
	859	+	22
	860	+	23
	861	+	24
	862	+	1
570	863		2
571	864		3
572	865		4
573	866		5
574	867		6
575	868		7
576	869		8
577	870		9
578	871		10
579	872		11
580	873		12
581	874		13
582	875		14
583	876		15
584	877		16
585	878		17
586	879		18
587	880		19
588	881		20
589	882		21
590	883		22
591	884		23
592	885		24
593	886
	887	+	Board of Governors of the Licensed Architects,
	888	+	Landscape Architects and Registered Commercial
	889	+	Licensed Interior Designers of Oklahoma 4
	890	+	Board of Chiropractic Examiner s 3
	891	+	State Board of Cosmetology and Barbering 16
	892	+	Board of Dentistry 10
	893	+	Oklahoma Funeral Board 5
	894	+	State Board of Licensure for Professional
	895	+	Engineers and Land Surveyors 10
594	896		State Board of Medical Licensure and Supervision/
595	897		Board of Podiatric Medical Examiners/ State
596	898		Board of Examiners of Perfusionists 29
597	899		Oklahoma Energy Resources Board 5
598	900		Oklahoma New Motor Vehicle Commission 6
599	901		Oklahoma Board of Nursing 35
600	902		Oklahoma State Board of Examiners for Long -Term
601	903		Care Administrators 4
602	904		Board of Examiners in Optometry 3
603	905		State Board of Osteopathic Examiners 7
604	906		State Board of Pharmacy 15
605	907		State Board of Examiners of Psychologists 2
606	908		Oklahoma Real Estate Commission 26
607	909		Board of Examiners for Speech -Language Pathology
608	910		and Audiology 2
609		-	Oklahoma Used Motor Vehicle, Dismantler, and
610		-	Manufactured Housing Commission 15
611		-	State Board of Veterinary Medical Examiners 6
612		-	Oklahoma Firefighters Pension and Retirement
613		-	System 13
614		-	Oklahoma Police Pensi on and Retirement System 12
615		-	Teachers’ Retirement System of Oklahoma 52
616		-	Oklahoma Public Employees Retirement System 63
617		-	Oklahoma Student Loan Authority 85
618	911
619		-	SENATE FLOOR VERSION - SB718 SFLR Page 13
620		-	(Bold face denotes Committee Amendments) 1
	912	+
	913	+	Req. No. 605 Page 13 1
	914	+	2
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621	938		2
622	939		3
623	940		4
624	941		5
625	942		6
626	943		7
627	944		8
628	945		9
629	946		10
630	947		11
631	948		12
632	949		13
633	950		14
634	951		15
635	952		16
636	953		17
637	954		18
638	955		19
639	956		20
640	957		21
641	958		22
642	959		23
643	960		24
644	961
	962	+	Oklahoma Used Motor Vehicle, Dismantler, and
	963	+	Manufactured Housing Commission 15
	964	+	State Board of Veterinary Medical Examiners 6
	965	+	Oklahoma Firefighters Pension and Retirement
	966	+	System 13
	967	+	Oklahoma Police Pension and Retirement System 12
	968	+	Teachers’ Retirement System of Oklahoma 52
	969	+	Oklahoma Public Employees Retirem ent System 63
	970	+	Oklahoma Student Loan Authority 85
645	971		The Oklahoma Industrial Finan ce
646	972		Authority/Oklahoma Development Finance
647	973		Authority 10
648	974		State and Education Employees Group Insurance
649	975		Board 178
650	976		Oklahoma Capital Investment Board 4
651	977		State Board of Licensed Social Workers 1
652	978		Oklahoma State Employees Benefits Council 38
653	979		Banking Department 46
654	980		Liquefied Petroleum Gas Administration 10
655	981		C. The duties and compensation of employees, not otherwise
656	982		prescribed by law, necessary to perform the duties imposed upon the
657	983		Oklahoma Public Employees Retirement System Board of Trustees by law
658	984		shall be set by the Board of Trustees.
	985	+
	986	+
	987	+	Req. No. 605 Page 14 1
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659	1036		D. Temporary employees of the Oklahoma Used Motor Vehicle,
660	1037		Dismantler, and Manufactured Housing Commission between the dates of
661	1038		November 1 and January 31 an nually shall not be counted toward the
662	1039		maximum number of full -time-equivalent employees provided for in
663	1040		this section.
664	1041		SECTION 4. REPEALER 74 O.S. 2021, Sections 5085.1
665	1042		through 5085.16, are hereby repealed.
666	1043		SECTION 5. This act shall become effective November 1, 2025.
667		-	COMMITTEE REPORT BY: COMMITTEE ON ECONOMIC DEVELOPMENT, WORKFORCE
668		-	AND TOURISM
669		-	February 19, 2025 - DO PASS AS AMENDED
	1044	+
	1045	+	60-1-605 RD 1/15/2025 10:10:53 AM