ECONOMIC DEVELOPMENT
2022 Okla. Sess. Law Serv. Ch. 272 (H.B. 4362) (WEST)
2022 Okla. Sess. Law Serv. Ch. 272 (H.B. 4362) (WEST)
OKLAHOMA 2022 SESSION LAW SERVICE
Fifty-Eighth Legislature, 2022 Second Regular Session
CHAPTER 272
H.B. No. 4362
ECONOMIC DEVELOPMENT
An Act relating to economic development; defining terms; creating the Oklahoma Center for the Advancement of Science and Technology Intern Partnership for STEM Workforce Pipeline Program; authorizing Oklahoma Center for the Advancement of Science and Technology to administer program; providing for competitive internship funding for applicant organizations; requiring applicant organizations to submit certain information; requiring applicant organizations meet certain requirements; requiring Board to make certain findings before awarding funds; authorizing Oklahoma Center for the Advancement of Science and Technology to promulgate rules; providing for codification; providing an effective date; and declaring an emergency.
SUBJECT: Economic development
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 5060.44 of Title 74, unless there is created a duplication in numbering, reads as follows:
<< OK ST T. 74 § 5060.44 >>
A. As used in this section:
1. “Applicant organization” means an Oklahoma-based entity that is a nonprofit research foundation or private enterprise of special importance to the Oklahoma economy; and
2. “Eligible student” means an individual currently enrolled in an undergraduate or graduate program at an institution of higher education who is majoring in a science, technology, engineering, and mathematics (STEM) based discipline including, but not limited to, natural sciences, computer science, materials science, engineering, biomedical, biotechnical, data analytics, finance, mathematics, or a support area related to building successful Oklahoma high-tech companies.
B. There is hereby created the Oklahoma Center for the Advancement of Science and Technology Intern Partnership for STEM Workforce Pipeline Program to be administered by the Oklahoma Center for the Advancement of Science and Technology under the governance of the Oklahoma Science and Technology Research and Development Board.
C. The Oklahoma Center for the Advancement of Science and Technology may award competitive internship funds, through professional service contracts, to applicant organizations to hire qualified student interns to participate in innovative industry projects.
D. To qualify for program internship funds, the applicant organization must provide:
1. Documentation verifying that not less than fifty percent (50%) of the total direct cost of the proposed project will be provided by sources other than the Oklahoma Center for the Advancement of Science and Technology and other state-appropriated money. Such sources may be in the form of salary, cash, nonstate grant funds, and other sources of funding as defined by the Oklahoma Center for the Advancement of Science and Technology;
2. A description of the potential commercial application of and the industrial sectors that will likely benefit from the project and the potential to enhance employment opportunities in Oklahoma;
3. An itemized research budget, timeline, and research methodology; and
4. Any other information that may be required by the Board.
E. The Board shall award professional service contracts after it determines the applicant organization:
1. Provides a beneficial and meaningful intern experience which includes exposure to real-world application of technology and innovation activities;
2. Involves projects leading to innovation, new knowledge, or technology that will benefit the applicant organization;
3. Has a reasonable probability to enhance employment opportunities within Oklahoma;
4. Is technically sound, will produce a measurable result, and provide a positive impact to the applicant organization; and
5. Does not involve market surveys or research activities that create fundamental or basic information which lack the potential for reasonably short-term commercialization.
F. Based upon the information submitted by the applicant organization, external peer review, and such additional investigation as the staff of the Center shall make, the Board may approve such professional service contracts after the Board finds that:
1. The proposed project is research that leads to innovation, new knowledge, or technology and is not training or technical assistance for business firms;
2. The project has a reasonable probability to enhance employment opportunities within the state; and
3. The project is technically sound and will produce a measurable result.
G. The Oklahoma Center for the Advancement of Science and Technology shall promulgate rules necessary to implement and administer the program authorized in this section.
SECTION 2. This act shall become effective July 1, 2022.
SECTION 3. It being immediately necessary for the preservation 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 passage and approval.
Approved May 16, 2022.
| End of Document |