An act relating to school bonds, the official text

1                            STATE OF OKLAHOMA

2   2nd Session of the 60th Legislature (2026)

3 HOUSE BILL 3331            By: Hays

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6                            AS INTRODUCED

7   An Act relating to school bonds; creating one-year

    waiting period for new school bonds; clarifying one-

8   year waiting period does not apply to nondebt capital

    options; exempting destroyed school facilities;

9   providing for codification; and providing an

    effective date.

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12 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:

13  SECTION 1.      NEW LAW  A new section of law to be codified

14 in the Oklahoma Statutes as Section 15-102A of Title 70, unless

15 there is created a duplication in numbering, reads as follows:

16  A. No election for the purpose of issuing bonds pursuant to

17 Section 15-102 of Title 70 of the Oklahoma Statutes shall be called

18 within three hundred sixty-five (365) days after the date which all

19 bonded indebtedness has been certified by the district treasurer as

20 retired and no longer outstanding. All bonds issued pursuant to

21 Section 26 of Article X of the Oklahoma Constitution on or before

22 the effective date of this act shall be considered existing

23 indebtedness for the purposes of this section.

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1   B. The waiting period in subsection A of this section shall not

2 apply to or prevent a school district from pursuing nondebt capital

3 options including, but not limited to:

4   1. Private donations;

5   2. Lease-purchase agreements not subject to Section 26 of

6 Article X of the Oklahoma Constitution; and

7   3. Public-private construction partnerships as permitted by

8 law.

9   C. The waiting period in subsection A of this section shall not

10 apply where the school facilities have been destroyed by an act of

11 God.

12  SECTION 2. This act shall become effective November 1, 2026.

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14  60-2-14082      AQH    12/31/25

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