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SB 572

Oklahoma Center for the Advancement of Science and Technology; requiring the cessation of the technology business financing program; directing transfer of remaining funds. Effective date.

2026 Regular Session Introduced by Daniel Pae and 1 co-sponsor

SB 572 terminates Oklahoma's technology business financing program and redirects remaining funds to the state general revenue, eliminating state-backed capital support for tech entrepreneurs.

Recommendation to the full committee; Do Pass Appropriations and Budget Education Subcommittee
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Bill Summary · SB 572

Legislative bill overview

SB 572 terminates Oklahoma's technology business financing program operated by the Oklahoma Center for the Advancement of Science and Technology (OCASET). The bill directs the transfer of any remaining program funds to the state's general revenue fund or other designated accounts upon program closure.

Why is this important

This bill eliminates a state economic development initiative designed to provide financing support for technology-based businesses in Oklahoma. The decision affects ongoing access to capital for tech entrepreneurs and represents a shift in the state's approach to technology sector development and investment priorities.

Potential points of contention

  • Impact on existing borrowers: Unclear whether the termination affects active loans, refinancing obligations, or ongoing business relationships with current program participants
  • Economic development trade-off: Eliminates a tool for attracting and supporting tech companies in Oklahoma, potentially affecting regional competitiveness in technology sectors
  • Fund allocation alternatives: The reallocation of remaining funds to general revenue may be contested by stakeholders who believe those resources should remain dedicated to technology development or economic incentives

Compiled from official sources — confirm details with the bill’s official record.

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