A. There is hereby created the Taiwan Regional Trade Office. B. The Office shall be an administrative component of the Oklahoma Department of Commerce. C. The Office shall: 1. Facilitate economic relationships between Oklahoma-based businesses and business entities with principal business activity which is based or occurs regionally to Taiwan that shall not include any authoritarian or totalitarian government the sovereign powers of which are exercised through a single person or group of persons who are not elected by any form of legitimate popular voting; 2. Promote Oklahoma-based business and establish business-to- business trading activity with business entities based regionally to Taiwan; 3. Provide information about business trading opportunities with business entities based regionally to Taiwan for Oklahoma-based businesses; 4. Facilitate positive relationships between this state and its political subdivisions with the relevant governments based regionally to Taiwan that are consistent with United States foreign policy and any applicable trade or travel restrictions; 5. Coordinate the activities of the Oklahoma Department of Commerce with respect to business outreach specific to entities based regionally to Taiwan; 6. Coordinate, organize, support, and fund travel from Oklahoma to entities based regionally to Taiwan and return as part of an ongoing mission to establish and maintain relationships between Oklahoma and countries in the region with the objective of creating trade opportunities for Oklahoma-based business enterprises; 7. Manage actions taking place at the federal level whose primary objective promotes business-to-business transactions between entities based regionally to Taiwan and the United States with emphasis on promoting Oklahoma-based business activity; 8. Conduct training programs for Oklahoma-based business owners to inform them of potential trading opportunities with entities based regionally to Taiwan; 9. Produce promotional and educational materials for distribution by business organizations, trade associations, or similar entities consistent with the mission of the Office; and 10. Take such other actions or develop such programs consistent with the mission of developing business-to-business opportunities between entities based regionally to Taiwan and Oklahoma-based business enterprises. D. The Taiwan Regional Trade Office shall maintain a physical office in Taipei, Taiwan. E. 1. No later than January 1, 2029, the Oklahoma Department of Commerce shall conduct a cost/benefit analysis to determine the estimated net direct state benefits applicable for a three-year period beginning with the first complete calendar quarter. 2. If the Oklahoma Department of Commerce determines that the Office failed to meet the estimated net direct state benefit for operations, the Department shall cease operation of the Office. As used in this section, “estimated net direct state benefits” means the estimated direct state benefits less the estimated direct state costs. F. The Oklahoma Department of Commerce shall promulgate any rules necessary to implement the provisions of this section.
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