Senator Thompson Advances Legislation to Strengthen Oklahoma Research and Development Incentives

OKLAHOMA CITY – Senator Kristen Thompson, R-Edmond, has advanced legislation to strengthen Oklahoma’s research and development incentive program that encourages greater collaboration between businesses and higher education institutions.

The bill passed off the Senate floor today by a vote of 36-to-4.

Senate Bill 1530 enhances the state’s Research and Development Rebate Program by allowing companies to receive an additional 2% rebate when they partner with an Oklahoma college or university on qualifying research activities. The measure also requires the Oklahoma Department of Commerce to publish annual information detailing the program’s return on investment for taxpayers.

“Oklahoma has tremendous potential to lead in innovation, but that only happens when we strengthen the partnerships between our businesses and our universities,” Senator Thompson said. “Senate Bill 1530 rewards companies that invest in real research and development while working alongside Oklahoma’s higher education institutions to bring new ideas to life. By encouraging these collaborations and increasing transparency about the program’s return on investment, we’re making sure this incentive drives meaningful economic growth, creates high-quality jobs and keeps Oklahoma competitive in attracting cutting-edge industries.”

The legislation further clarifies what activities qualify as research and development under the rebate program, ensuring incentives are directed toward genuine innovation and not routine product testing, market research, or similar activities.

The Research and Development Rebate Program was created to encourage companies to invest in innovation within Oklahoma, helping attract new industries and expand opportunities for high-skill jobs across the state.

Senate Bill 1530 now moves to the House of Representatives for consideration.

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