Oklahoma 2026 Regular Session Status: In Committee 2 R cosponsors

SB 714 — Energy Discrimination Elimination Act of 2022; transferring enforcement authority to Office of the Attorney General; modifying reporting, disclosure, and judicial provisions for state governmental entities. Effective date. Emergency,

Last action — Placed on General Order

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  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed Senate
  4. 4
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill is in committee in the Senate. Introduced February 03, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the Senate.

Prognosis

Advancing 38% · moderate confidence

Where this bill stands today.

Odds of enactment

Low

How often bills like it became law.

  • In Committee

    Current position in the legislative process.

  • 2 sponsors

    2 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 R).

  • Cleared a recorded vote

    Passed 1 recorded vote so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

448 added · 436 removed

Plain-language change summary

The updated version of Senate Bill 714 makes several important changes to the Energy Discrimination Elimination Act. Notably, it clarifies terms and removes some limitations on legal actions, giving more authority to enforce the law. Additionally, it alters the process for how financial companies are identified and requires these companies to report certain information. These changes are significant because they aim to strengthen the law's effectiveness and ensure that state entities can manage their responsibilities without unnecessary constraints.

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STATE OF OKLAHOMA 1st Session of the 60th Legislature (2025) FLOOR SUBSTITUTE FOR SENATE BILL NO.
SENATE FLOOR VERSION February 13, 2025 3 SENATE BILL NO.
Rader of the Senate and Moore of the House 8 FLOOR SUBSTITUTE An Act relating to state government;
Rader of the Senate and Moore of the House 7 An Act relating to state government;
providing legislative intent;
updating statutory references;
updating statutory language;
providing for noncodification;
NEW LAW A new section of law not to be codified in the Oklahoma Statutes reads as follows:
Req.
No.
1887 Page 1 The Legislature finds that using state retirement system assets to boycott energy companies or entrusting state retirement system assets to third parties that boycott energy companies is incompatible with Section 12 of Article XXIII of the Oklahoma Constitution, which requires that state retirement system assets be used for the exclusive purpose of benefiting the system and not be used for any other purpose.
SECTION 2.
2022 (74 O.S.
(74 O.S.
Section 12002.
SENATE FLOOR VERSION - SB714 SFLR Page 1 (Bold face denotes Committee Amendments) Section 12002.
“Boycott energy company” means, without an ordinary business purpose, refusing to deal with, terminating business activities with, or otherwise taking any action that is intended to penalize, inflict economic harm on, or limit divesting from, limiting commercial relations with, or demonstrating a past history of voting on shareholder proposals to penalize or inflict economic harm on commercial relations with a company because the company:
“Boycott energy company” means, without an ordinary business purpose, refusing to deal with, terminating business activities with, divesting from, or otherwise taking any action that is intended to penalize, inflict economic harm on, or limit limiting commercial relations with a company because the company:
engages in the exploration, production, utilization, transportation, sale, or manufacturing of fossil-fuel- based energy and does not commit or pledge to meet Req.
engages in the exploration, production, utilization, transportation, sale, or manufacturing of fossil-fuel- based energy and does not commit or pledge to meet environmental standards beyond applicable federal and state law, or b.
No.
1887 Page 2 environmental standards beyond applicable federal and state law, or b.
4.
SENATE FLOOR VERSION - SB714 SFLR Page 2 (Bold face denotes Committee Amendments) 4.
“Indirect holdings” means, with respect to a financial company, all securities of that financial company held in an account or fund, such as a mutual fund, managed by one or more persons not employed by a state governmental entity, in which the state governmental entity owns shares or interests together with other investors not subject to the provisions of this act the Energy Discrimination Elimination Act of 2022.
“Indirect holdings” means, with respect to a financial company, all securities of that financial company held in an account or fund, such as a mutual fund, managed by one or more persons not employed by a state governmental entity, in which the state governmental entity owns shares or interests together with other investors not subject to the provisions of this act.
The term does not include Req.
The term does not include money invested under a plan described by Section 401(a), 401(k), or 457 of the Internal Revenue Code of 1986;
No.
1887 Page 3 money invested under a plan described by Section 401(a), 401(k), or 457 of the Internal Revenue Code of 1986, as amended;
prospectuses, reports, communications with portfolio companies, or shareholder votes, or b.
prospectuses, reports, communications with portfolio companies, or shareholder votes, or SENATE FLOOR VERSION - SB714 SFLR Page 3 (Bold face denotes Committee Amendments) b.
participation in, affiliation with, or status as a signatory to any coalition, initiative, joint statement of principles, or agreement to act or to endeavor to act in furtherance of environmental, social, political, or ideological interests;
participation in, affiliation with, or status as a signatory to, any coalition, initiative, joint statement of principles, or agreement, to act or to endeavor to act predominantly in furtherance of environmental, social, political, or ideological interests;
With respect to actions taken in compliance with the Energy Discrimination Elimination Act of 2022, including all good-faith determinations regarding financial companies as required by this act the Energy Discrimination Elimination Act of 2022, a state governmental entity and the Treasurer Attorney General are exempt from any conflicting statutory or common law obligations including Req.
With respect to actions taken in compliance with the Energy Discrimination Elimination Act of 2022, including all good-faith determinations regarding financial companies as required by this act, a state governmental entity and the Treasurer Attorney General are exempt from any conflicting statutory or common law obligations including any obligations with respect to making investments, divesting from any investment, preparing or maintaining any list of financial companies, or choosing asset managers, investment funds, or investments for the state governmental entity’s securities portfolios.
No.
1887 Page 4 any obligations with respect to making investments, divesting from any investment, preparing or maintaining any list of financial companies, or choosing asset managers, investment funds, or investments for the state governmental entity’s securities portfolios.
1.
SENATE FLOOR VERSION - SB714 SFLR Page 4 (Bold face denotes Committee Amendments) 1.
A person, including a member, retiree, or beneficiary of a retirement system to which the Energy Discrimination Elimination Req.
A person, including a member, retiree, or beneficiary of a retirement system to which the Energy Discrimination Elimination Act of 2022 applies, an association, a research firm, a financial company, or any other person shall not sue or pursue a private cause of action against the state, a state governmental entity, a current or former employee, a member of the governing body, or any other officer of a state governmental entity, or a contractor of a state governmental entity, for any claim or cause of action, including breach of fiduciary duty, or for violation of any constitutional, statutory, or regulatory requirement in connection with any action, inaction, decision, divestment, investment, financial company communication, report, or other determination made or taken in connection with this act.
No.
SENATE FLOOR VERSION - SB714 SFLR Page 5 (Bold face denotes Committee Amendments) 2.
1887 Page 5 Act of 2022 applies, an association, a research firm, a financial company, or any other person shall not sue or pursue a private cause of action against the state, a state governmental entity, a current or former employee, a member of the governing body, or any other officer of a state governmental entity, or a contractor of a state governmental entity, for any claim or cause of action, including breach of fiduciary duty, or for violation of any constitutional, statutory, or regulatory requirement in connection with any action, inaction, decision, divestment, investment, financial company communication, report, or other determination made or taken in connection with this act.
2.
A state governmental entity shall not be subject to any requirement of this act the Energy Discrimination Elimination Act of 2022 if the state governmental entity determines that such requirement would be inconsistent with its fiduciary responsibility with respect to the investment of entity assets or other duties imposed by law relating to the investment of entity assets.
A state governmental entity shall not be subject to any requirement of this act if the state governmental entity determines that such requirement would be inconsistent with its fiduciary responsibility with respect to the investment of entity assets or other duties imposed by law relating to the investment of entity assets.
A state governmental entity that takes the exemption under this subsection shall electronically submit a report to the President Pro Tempore of Req.
A state governmental entity that takes the exemption under this subsection shall electronically submit a report to the President Pro Tempore of the Senate, the Speaker of the House of Representatives, and the Attorney General.
No.
SECTION 2.
1887 Page 6 the Senate, the Speaker of the House of Representatives, and the Attorney General.
SECTION 3.
review and rely, as appropriate in the Treasurer’s Attorney General’s judgment, on publicly available information regarding financial companies including information provided by the state, nonprofit organizations, research firms, international organizations, and governmental entities, and b.
review and rely, as appropriate in the Treasurer’s Attorney General’s judgment, on publicly available information regarding financial companies including SENATE FLOOR VERSION - SB714 SFLR Page 6 (Bold face denotes Committee Amendments) information provided by the state, nonprofit organizations, research firms, international organizations, and governmental entities, and b.
request written verification from a financial company that it does not boycott energy companies and rely, as appropriate in the Treasurer’s Attorney General’s judgment and without conducting further investigation, research, or inquiry, on a financial company’s written response to the request, and Req.
request written verification from a financial company that it does not boycott energy companies and rely, as appropriate in the Treasurer’s Attorney General’s judgment and without conducting further investigation, research, or inquiry, on a financial company’s written response to the request, and d.
No.
develop and publish criteria for the definition of a boycott energy company and publish the criteria for removing a company from the list.
1887 Page 7 d.
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develop and publish criteria for adding or removing a company from the list.
A The Attorney General, after performing his or her due diligence, may presume that a financial company that fails to provide to the Treasurer a written verification under subparagraph b c of paragraph 1 of this subsection before the sixty-first day after receiving the verification request from the Treasurer is presumed to be is boycotting energy companies.
A The Attorney General, after performing his or her due diligence, may presume that a financial company that fails to provide to the Treasurer a written verification under subparagraph b of paragraph 1 of this subsection before the sixty-first day after receiving the verification request from the Treasurer is presumed to be is boycotting energy companies.
4.
SENATE FLOOR VERSION - SB714 SFLR Page 7 (Bold face denotes Committee Amendments) 4.
The Treasurer Attorney General shall update the list annually or more often as the Treasurer considers necessary, but not more often than quarterly, based on information from, among other sources, those listed in subparagraph a of paragraph 1 of this subsection by completing the verification process outlined in this subsection.
The Treasurer Attorney General shall update the list annually or more often as the Treasurer considers necessary, but not more often than quarterly, based on information from, among other sources, those listed in subparagraph a of paragraph 1 of this subsection by completing the verification process as outlined in this subsection.
Not later than the thirtieth day after the date the list of financial companies that boycott energy companies is first provided or updated, the Treasurer Attorney General shall file the Req.
Not later than the thirtieth day after the date the list of financial companies that boycott energy companies is first provided or updated, the Treasurer Attorney General shall file the list with the presiding officer of each house of the Legislature and the Attorney General and post the list on a publicly available Internet website.
No.
1887 Page 8 list with the presiding officer of each house of the Legislature and the Attorney General and post the list on a publicly available Internet website.
The Treasurer Attorney General may retain third-party consultants to assist in the implementation of the provisions of this act the Energy Discrimination Elimination Act of 2022.
The Treasurer Attorney General may retain third-party consultants to assist in the implementation of the provisions of this act.
Not later than the thirtieth day after the date a state governmental entity receives the list provided under paragraph 1 of subsection A of this section, the state governmental entity shall notify the Treasurer Attorney General of the listed financial companies in which the state governmental entity owns direct holdings or indirect holdings.
Not later than the thirtieth day after the date a state governmental entity receives the list provided under paragraph 1 of subsection A of this section, the state governmental entity shall notify the Treasurer Attorney General of the listed financial SENATE FLOOR VERSION - SB714 SFLR Page 8 (Bold face denotes Committee Amendments) companies in which the state governmental entity owns direct holdings or indirect holdings.
Req.
2.
No.
1887 Page 9 2.
If, during the time provided by paragraph 2 of this subsection, the financial company ceases boycotting energy companies and notifies the Attorney General in writing of the cessation, the Treasurer shall Attorney General may remove the financial company from the list maintained under paragraph 1 of subsection A of this section, and this subsection will no longer apply to the financial company unless it resumes boycotting energy companies.
If, during the time provided by paragraph 2 of this subsection, the financial company ceases boycotting energy companies, and notifies the Attorney General in writing of the cessation, the Treasurer shall Attorney General may remove the financial company from the list maintained under paragraph 1 of SENATE FLOOR VERSION - SB714 SFLR Page 9 (Bold face denotes Committee Amendments) subsection A of this section, and this subsection will no longer apply to the financial company unless it resumes boycotting energy companies.
Req.
a.
No.
at least fifty percent (50%) of those assets shall be removed from the state governmental entity’s assets under management not later than the one-hundred- eightieth day after the date the financial company receives notice pursuant to paragraph 1 of subsection C of this section unless the state governmental entity determines, based on a good-faith exercise of its fiduciary discretion and subject to subparagraph b of this subsection, that a later date is more prudent, and SENATE FLOOR VERSION - SB714 SFLR Page 10 (Bold face denotes Committee Amendments) b.
1887 Page 10 a.
at least fifty percent (50%) of those assets shall be removed from the state governmental entity’s assets under management not later than the one-hundred- eightieth day after the date the financial company receives notice pursuant to paragraph 1 of subsection C of this section unless the state governmental entity determines, based on a good-faith exercise of its fiduciary discretion and subject to subparagraph b of this subsection paragraph, that a later date is more prudent, and b.
Req.
No.
1887 Page 11 3.
Except as provided by paragraph 1 of this subsection D of this section, a state governmental entity may delay the schedule for divestment under that this subsection only to the extent that the state governmental entity determines, in the state governmental entity’s good-faith judgment, and consistent with the entity’s fiduciary duty, that divestment from listed financial companies will likely result in a loss in value or a benchmark deviation described by paragraph 1 of subsection F of this section.
4.
Except as provided by paragraph 1 of this subsection D of this section, a state governmental entity may delay the schedule for divestment under that subsection only to the extent that the state governmental entity determines, in the state governmental entity’s good-faith judgment, and consistent with the entity’s fiduciary duty, that divestment from listed financial companies will likely result in a loss in value, including transaction costs, or a benchmark deviation described by paragraph 1 of subsection F of this section.
SENATE FLOOR VERSION - SB714 SFLR Page 11 (Bold face denotes Committee Amendments) 4.
3.
The report shall include documentation supporting its determination that the divestment would result in a loss in value or a benchmark deviation described by paragraph 1 of subsection F of this section including objective numerical estimates.
The report shall include documentation supporting its determination that the divestment would result in a loss in value, including transaction costs, or a benchmark deviation described by paragraph 1 of subsection F of this section including objective numerical estimates.
The state governmental entity shall Req.
The state governmental entity shall submit letters to the managers of each investment fund containing listed financial companies requesting that they remove those financial companies from the fund or create a similar actively or passively managed fund with indirect holdings devoid of listed financial companies.
No.
If a manager creates a similar fund with substantially the same management fees and same level of investment risk and anticipated return, the state governmental entity may SENATE FLOOR VERSION - SB714 SFLR Page 12 (Bold face denotes Committee Amendments) replace all applicable investments with investments in the similar fund in a time frame consistent with prudent fiduciary standards but not later than the four-hundred-fiftieth day after the date the fund is created.
1887 Page 12 submit letters to the managers of each investment fund containing listed financial companies requesting that they remove those financial companies from the fund or create a similar actively or passively managed fund with indirect holdings devoid of listed financial companies.
If a manager creates a similar fund with substantially the same management fees and same level of investment risk and anticipated return, the state governmental entity may replace all applicable investments with investments in the similar fund in a time frame consistent with prudent fiduciary standards but not later than the four-hundred-fiftieth day after the date the fund is created.
the state governmental entity has suffered or will suffer a loss in the value of assets under management by the state governmental entity as a result of having to divest from listed financial companies under this subsection, or b.
the state governmental entity has suffered or will suffer a loss in the value, including transaction costs, of assets under management by the state governmental entity as a result of having to divest from listed financial companies under this subsection, or b.
Req.
2.
No.
1887 Page 13 2.
3.
SENATE FLOOR VERSION - SB714 SFLR Page 13 (Bold face denotes Committee Amendments) 3.
A state governmental entity shall not be subject to any requirement of the Energy Discrimination Elimination Act of 2022 if the state governmental entity determines that such requirement would Req.
A state governmental entity shall not be subject to any requirement of the Energy Discrimination Elimination Act of 2022 if the state governmental entity determines that such requirement would be inconsistent with its fiduciary responsibility with respect to the investment of entity assets or other duties imposed by law relating to the investment of entity assets.
No.
1887 Page 14 be inconsistent with its fiduciary responsibility with respect to the investment of entity assets or other duties imposed by law relating to the investment of entity assets.
The Attorney General shall promulgate rules to implement the provisions of this section, including defining the process and criteria for creating the list required in paragraph 1 of subsection A of this section.
The Attorney General shall promulgate rules to implement the provisions of this section, including defining the process and SENATE FLOOR VERSION - SB714 SFLR Page 14 (Bold face denotes Committee Amendments) criteria for creating the list required in paragraph 1 of subsection A of this section.
SECTION 4.
SECTION 3.
Identifies securities sold, redeemed, divested, or withdrawn in compliance with subsection D of Section 3 12003 of this act title;
Identifies securities sold, redeemed, divested, or withdrawn in compliance with subsection D of Section 3 of this act;
Identifies prohibited investments under subsection F G of Section 3 12003 of this act title;
Identifies prohibited investments under subsection F of Section 3 of this act;
Summarizes any changes made under subsection E of Section 3 12003 of this act title.
Summarizes any changes made under subsection E of Section 3 of this act.
Req.
SECTION 4.
No.
1887 Page 15 SECTION 5.
B.
SENATE FLOOR VERSION - SB714 SFLR Page 15 (Bold face denotes Committee Amendments) B.
Req.
3.
No.
1887 Page 16 3.
a governmental entity that determines the requirements of paragraphs 2 or 3 of this subsection are inconsistent with the governmental entity’s constitutional or statutory duties related to the issuance, incurrence, or management of debt obligations or the deposit, custody, management, borrowing, or investment of funds or its fiduciary responsibility, and b.
a governmental entity that determines the requirements of paragraphs 2 or 3 of this subsection are SENATE FLOOR VERSION - SB714 SFLR Page 16 (Bold face denotes Committee Amendments) inconsistent with the governmental entity’s constitutional or statutory duties related to the issuance, incurrence, or management of debt obligations or the deposit, custody, management, borrowing, or investment of funds or its fiduciary responsibility, and b.
a contract for which a governmental body entity determines the supplies or services to be provided are not otherwise reasonably available from a company that does not boycott energy companies or from a financial company that is not a listed financial company under Section 3 12003 of this act title, as applicable.
a contract for which a governmental body entity determines the supplies or services to be provided are not otherwise reasonably available from a company that does not boycott energy companies or from a financial company that is not a listed financial company under Section 3 of this act, as applicable.
The provisions of the Energy Discrimination Elimination Act of 2022 shall not apply to any notes or bonds issued by this state, any political subdivision, or any governmental entity used for public financing.
The provisions of this act shall not apply to any notes or bonds issued by this state, any political subdivision, or any governmental entity, used for public financing.
Req.
2.
No.
1887 Page 17 2.
SECTION 6.
SECTION 5.
SECTION 7.
SECTION 6.
SECTION 8.
SECTION 7.
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.
It being immediately necessary for the preservation of the public peace, health or safety, an emergency is hereby SENATE FLOOR VERSION - SB714 SFLR Page 17 (Bold face denotes Committee Amendments) declared to exist, by reason whereof this act shall take effect and be in full force from and after its passage and approval.
60-1-1887 RD 3/24/2025 3:21:26 PM Req.
COMMITTEE REPORT BY:
No.
COMMITTEE ON ENERGY February 13, 2025 - DO PASS 5 7 9 SENATE FLOOR VERSION - SB714 SFLR Page 18 (Bold face denotes Committee Amendments)
1887 Page 18
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Action History

  1. Placed on General Order

  2. Reported Do Pass Energy committee; CR filed

  3. Coauthored by Representative Moore (principal House author)

  4. Second Reading referred to Energy

  5. Authored by Senator Rader

  6. First Reading

Sponsors

Sponsorship breakdown

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2 sponsors · 0 co-sponsors · 149 not signed on · 1 voted No

Sponsors (2)

Co-sponsors (0)

None.

Not signed on (149)

149 members have not signed on to this bill.

Show all 149 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Do Pass

Passed 10 Yea · 1 Nay
Party YeaNayPresentNot Voting
Democrat 1100
Republican 9000
Total 10100
% of votes cast 91%9%0%0%
How each member voted (11)
Member Party Vote
Jo Anna Dossett Democrat Yea
Mary B. Boren Democrat Nay
Avery Frix Republican Yea
Casey Murdock Republican Yea
Dave Rader Republican Yea
Grant Green Republican Yea
Julie McIntosh Republican Yea
Kristen Thompson Republican Yea
Shane Jett Republican Yea
Spencer Kern Republican Yea
Tom Woods Republican Yea

Official roll call →

Subjects

civil-rights energy
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 714?
SB 714 is sponsored by Dave Rader (Republican) and Anthony Moore (Republican).
What is the current status of SB 714?
This bill is in committee in the Senate. Introduced February 03, 2025. It must pass committee before a floor vote.
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