A. There is hereby created, within the Oklahoma Department of Aerospace and Aeronautics, the Oklahoma Aircraft Engine Testing Development Grant Program to offer financial assistance by grant to private or public entities for the purpose of expanding the aircraft engine testing capabilities of this state and developing aircraft engine testing infrastructure. Grant funding shall be administered based on the potential for a specific project to enhance the aviation and aerospace industry of this state. A grant under this program shall be a one-time award.B. Public, private, and nonprofit entities within this state that have sufficient financial and management capacity to complete the requested project are eligible for funding under this program. Applicants shall provide the following information:1. Airline or industry support as evidenced by a letter or other communication directly from the entity stating its support for the project;2. The ability to provide a minimum of forty percent (40%) matching funds for the project; and3. A proposal summary that shall include any background information or history with aircraft engine testing and development, project description, timeline for completion of project, and estimated budget for the entire project.C. A grant agreement shall be made between any awardee and the Department. The grant agreement shall provide for the conditions of disbursement, shall include a provision requiring the repayment of awarded funds if the terms are not met, and shall include a requirement for awardees to provide ongoing quarterly reports detailing activity related to the project.Okla. Stat. tit. 3, § 502
Added by Laws 2024, c. 125,s. 2, eff. 7/1/2024.