OklahomaSB 987Oklahoma 2026 Regular SessionSenate

Oklahoma Department of Commerce; creating the Oklahoma Department of Commerce Board; providing for qualifications for Board members. Effective date.

Sponsored By: Kristen Thompson (Republican)

Signed by Governor

Senate Committee

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Commerce board can protect business information

Beginning January 1, 2026, the Commerce Board can keep certain sensitive business information private. This covers submissions from people or groups seeking economic advice, business development, or custom training, and information prepared in response. Protected materials include business plans, feasibility studies, financing proposals, marketing plans, financial statements, trade secrets, and related confidentiality agreements. The board can discuss these materials in closed meetings. Its other meetings remain subject to Oklahoma's open-meeting and open-records laws.

New board oversees Oklahoma economic development

Beginning January 1, 2026, a new nine-member board oversees the Oklahoma Department of Commerce. The Senate President Pro Tempore and House Speaker each appoint two members; the Governor appoints four. The Commerce Secretary or a designee chairs the board. Members need at least five years of private-sector experience and relevant expertise. At least one appointee from each legislative leader must come from a municipality with 50,000 or fewer residents. At least one Governor appointee must meet that population rule and be an Oklahoma economic development practitioner. Initial appointed terms last one or two years; later terms last three years. Vacancies are filled for the remaining term, and five members form a quorum. The board sets rules, controls the Department, and approves its strategic plan and budget, including changes for supplemental appropriations. It advises on the chief executive's appointment and pay, reviews economic projects with the Legislative Evaluation and Development Committee, and reports electronically each year to the Governor and Legislature. It can form working groups and seek and manage private, federal, and non-governmental funds. Members can serve on other state boards when otherwise qualified. They receive no salary or reimbursement for board duties, except travel reimbursement under the State Travel Reimbursement Act.

Sponsors & Cosponsors

Sponsor

Kristen Thompson
Republican • Senate

Cosponsors

Blancett
Affiliation unavailable
Osburn
Affiliation unavailable

Roll Call Votes

All Roll Calls

Yes: 122 • No: 50

House vote • 5/5/2025

THIRD READING

Yes: 62 • No: 30

House vote • 4/22/2025

DO PASS

Yes: 12 • No: 5

House vote • 4/8/2025

DO PASS

Yes: 9 • No: 0

Senate vote • 3/18/2025

THIRD READING

Yes: 30 • No: 15

Senate vote • 2/25/2025

THE OKLAHOMA