ARDMORE, Okla. (KTEN) — Legislation proposed in the Oklahoma Senate could provide state funding for multi-million dollar projects.

Sen. Jerry Alvord (R-District 14) is sponsoring Senate Bill 1428,  indirectly aimed at Woodside Energy's proposed hydrogen plant in Ardmore.

"We're losing Michelin. We're losing many, many jobs. We're losing a lot of revenue for the City of Ardmore, but for southern Oklahoma in general," Alvord said. "This is an attempt to put back some of that."

"The legislature was really pretty far down the legislative process last year when this ask was made, and so we were encouraged to bring this bill back," said Ardmore Development Authority president Bill Murphy

The bill would create an investment rebate program for companies that submit an application. Requirements include:

  • expenditures totaling more than $800 million in Oklahoma
  • proof that they have made expenditures no less than 20 percent of a capital spending plan
  • a company that has filed tax returns

Projects that qualify could receive a maximum of $50 million of state investments in infrastructure construction. Woodside Energy would like to see some of those funds.

"The company has requested some $50 million to help assist; things like leveling, adding concrete,  all of those things to make the site conducive to the kind of large equipment and facilities that they're going to be constructing," Murphy said.

If Senate Bill 1428 is passed, and the $50 million from the state is provided...

"It's projected this money will come back to the taxpayers of Oklahoma anywhere from 10 to 15 years," Alvord said.

The proposed legislation has been sent to the Senate Appropriations Committee for further review.