Legislation and Rules
The Oklahoma Center for the Advancement of Science and Technology
(OCAST) was established in 1987 as the state’s agency for
technology-based economic development. OCAST’s mandate is to “expand and
diversify Oklahoma’s economy and provide new and higher quality jobs
for Oklahomans” by encouraging “. . . the development of new products,
new processes and whole new industries in Oklahoma.” (O.S. 74, Sections
5060.1a and 5060.2A)
In compliance with Oklahoma Statutes Section 3106.4 Title 74, links to any statutes affecting OCAST and its operation or that the public may find useful in interacting with OCAST and any administrative rules adopted or submitted by OCAST pursuant to the Administrative Procedures Act are available in the documents linked below.
Helpful Legislation and Rules
As authorized through Oklahoma Administrative Code OCAST has developed program specifications for each of its funding programs. These specifications are the rules that govern the management of each program.
Oklahoma Applied Research Support (OARS) Specifications
Oklahoma Health Research Program Specifications
Intern Partnerships Program Specifications
Oklahoma Plant Science Research Program Specifications
Technology Business Finance Program (TBFP) Specifications
Science and Innovation Council
Effective September 17, 2019, Governor Kevin Stitt, created the Governor's Science and Innovation Council chaired by the secretary of science and innovation and staffed by OCAST.
Executive Order 2019-38 Establishment of the Governor's Science and Innovation Council
New Products Development Income Tax Exemption (74 O.S. § 5064.7) Royalty earned by an inventor from a product developed and manufactured in this state shall be exempt from state income tax for a period of seven (7) years from January 1 of the first year in which such royalty is received as long as the manufacturer remains in the state. An instate manufacturer of a product developed in this state by an inventor shall be eligible for a tax credit, as provided for in Section 2357.4 of Title 68 of the Oklahoma Statutes. In addition, such manufacturer may be excluded from Oklahoma taxable income, or in the case of an individual, the Oklahoma adjusted gross income, sixty-five percent (65%) of the cost of depreciable property purchased and utilized directly in manufacturing the product. The maximum exclusion shall not exceed Five Hundred Thousand Dollars ($500,000). To qualify for the incentives, the product shall be patented or have patent pending pursuant to federal law and shall be registered with the Oklahoma Center for the Advancement of Science and Technology (OCAST).
Application for Registration of a Patent/Patent Pending