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1 STATE OF OKLAHOMA
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2 1st Session of the 60th Legislature (2025)
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3 SENATE BILL 283 By: Rader
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6 AS INTRODUCED
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7 An Act relating to The Oklahoma State System of
7 Higher Education; amending 62 O.S. 2021, Section
8 34.53, which relates to the Oklahoma State Finance
8 Act; updating statutory reference; amending 70 O.S.
9 2021, Section 3206.6a, which relates to the master
9 lease program; expanding annual transaction limit to
10 include certain refunded projects; updating statutory
10 language; and providing an effective date.
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14 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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15 SECTION 1. AMENDATORY 62 O.S. 2021, Section 34.53, is
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16 amended to read as follows:
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17 Section 34.53. A. 1. The Oklahoma State System of Higher
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18 Education, established by Article XIII-A of the Oklahoma
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19 Constitution, shall operate an allotment system similar to the
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20 procedure set out in the Oklahoma State Finance Act for other
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21 agencies of the state except that the Oklahoma State Regents for
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22 Higher Education shall be substituted for the Director of the Office
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23 of Management and Enterprise Services in connection with approving
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1 allotment requests of the constituent institutions comprising The
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2 Oklahoma State System of Higher Education.
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3 2. The account classification for the State System of Higher
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4 Education shall conform as nearly as possible with the
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5 classification of accounts recommended by the National Committee on
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6 Standard Reports for Institutions of Higher Education.
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7 3. The Board of Regents shall allocate to each institution
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8 under its control from the consolidated, or lump sum appropriation
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9 made by the Legislature, an amount sufficient to meet the needs and
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10 functions of each institution for the entire year.
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11 4. The amount allocated to each institution for each fiscal
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12 year in accordance with Article XIII-A of the Oklahoma Constitution,
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13 shall be made in a lump sum without regard to uniform budget or
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14 accounting classifications, but shall not be available for
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15 expenditure until subsequently allotted by the Regents in accordance
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16 with the uniform budget and accounting classifications recommended
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17 by the National Committee on Standard Reports.
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18 B. The Oklahoma State Regents for Higher Education may reduce
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19 the allocation of funds which could otherwise be made to an
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20 institution within The Oklahoma State System of Higher Education in
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21 order to make payments for leases within the lease financing program
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22 authorized by Section 3206.5 3206.6a of Title 70 of the Oklahoma
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23 Statutes.
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1 C. 1. The Regents, with the approval of the Director of the
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2 Office of Management and Enterprise Services, may allot money to any
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3 constituent institution to set up and operate a petty cash fund at
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4 said such institution. Such petty cash fund shall be reimbursed
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5 upon the filing of claims showing the purposes for which the funds
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6 were expended.
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7 2. The Division of Central Accounting and Reporting shall make
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8 cash allocations of revenue in accordance with Section 23 of Article
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9 X of the Oklahoma Constitution, to each of the constituent
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10 institutions. These cash allocations shall be based on the
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11 allocations made by the Regents to each institution from the lump
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12 sum legislative appropriations and such allocation shall be the
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13 total appropriation for each institution, in lieu of legislative
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14 appropriations.
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15 3. After these funds have been allocated and allotted as
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16 provided in this section, all institutional income shall operate as
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17 a continuing nonfiscal appropriation which may be spent for any
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18 educational and general purposes for which appropriated funds may be
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19 spent. "Institutional income" for such purposes shall mean all
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20 income available for educational and general purposes, as defined in
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21 the uniform budget and accounting classifications recommended by the
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22 National Committee on Standard Reports, and including income defined
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23 by law as revolving fund income. Expenditures shall be limited to
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24 the extent that obligations as they are incurred may not exceed the
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1 unencumbered balance of cash on hand in accordance with Section 23
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2 of Article X of the Oklahoma Constitution.
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3 D. 1. At least thirty (30) days prior to the beginning of each
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4 fiscal year, each of the constituent institutions shall file with
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5 the Regents its request for appropriation allotments for each of the
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6 purposes for which expenditures are to be made.
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7 2. Such requests shall be broken down to conform to the uniform
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8 budget or accounting classifications recommended by the National
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9 Committee on Standard Reports.
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10 3. Each institution's request for appropriation allotments
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11 shall show the amount required to finance each item of the request
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12 for the entire year and for each quarter or each six-months six-
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13 month period within the fiscal year, as required by the Director of
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14 the Office of Management and Enterprise Services.
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15 E. The Regents, or the official or employee who has been
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16 authorized to approve itemized allotment requests, shall consider
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17 the allotment requests for the purpose of making a determination
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18 whether:
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19 1. The current financial requirements of the institution
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20 concerned justify the allotment to be made;
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21 2. The accounting classification is sufficient to reflect the
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22 purpose for which expenditures are to be made and that such
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23 classification is in accordance with the budget classifications
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24 adopted by the Director of the Office of Management and Enterprise
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1 Services and the Regents, which shall conform as nearly as possible
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2 to the account classification recommended by the National Committee
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3 on Standard Reports for Institutions of Higher Education; and
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4 3. The realization of estimated revenues determined by the
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5 Director of the Office of Management and Enterprise Services is
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6 sufficient to allow the commitments to be made.
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7 F. 1. In allotting appropriations and other funds, and
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8 approving subsequent allotments which may be required by each
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9 institution, the Regents shall follow the same general procedure set
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10 forth in the Oklahoma State Finance Act for other agencies of the
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11 state not under the control of said the Regents, except as otherwise
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12 provided in this section.
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13 2. All forms and account classifications shall be mutually
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14 agreed upon by the Director of the Office of Management and
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15 Enterprise Services and the State Regents.
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16 3. The Regents shall file approved requests of constituent
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17 institutions with the Division of Central Accounting and Reporting
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18 and such requests shall be entered on the records of the Office of
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19 Management and Enterprise Services in the same manner as is provided
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20 in the Oklahoma State Finance Act for other agencies of the state.
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21 4. The State Regents and the Director of the Office of
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22 Management and Enterprise Services shall approve any request from
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23 the administrative head of a constituent institution for amendment
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24 of the approved schedule of positions and salaries, or transfers
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1 between items, so long as the currently approved allotment for such
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2 purposes is not exceeded. Each such amendment shall be filed with
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3 the Office of Management and Enterprise Services, in such detail as
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4 may be required, prior to the date on which the first payroll or
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5 other disbursement affected by such amendment or transfer is
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6 submitted for payment.
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7 G. 1. In the event that the realization of estimated revenues
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8 at any time during the fiscal year indicates that the total revenue
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9 for that fiscal year to any state fund will be insufficient at the
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10 end of the fiscal year to meet the total appropriations from that
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11 fund, the Director of the Office of Management and Enterprise
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12 Services shall notify the Oklahoma State Regents for Higher
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13 Education as to the amount of reduction necessary against the
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14 consolidated, or lump sum appropriations, made to the Regents.
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15 2. The Regents, in making itemized allotments during the fiscal
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16 year, may reserve an amount sufficient to meet a reasonable failure
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17 of revenue until receipt of notice from the Director of the Office
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18 of Management and Enterprise Services that the realization of
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19 estimated revenues indicates that the total appropriation may be
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20 allotted for expenditure. Upon receipt of notice from the Director
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21 of the Office of Management and Enterprise Services of a necessary
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22 reduction in the consolidated, or lump sum appropriation, to meet a
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23 failure in revenue, the Oklahoma State Regents for Higher Education
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24 shall immediately take action to control the approval of subsequent
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1 allotment requests sufficient to make the aggregate reduction in
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2 allotments of all constituent institutions under their control equal
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3 the amount of reduction ordered against the lump sum appropriation
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4 made by the Legislature. Such reductions against the lump sum
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5 appropriation shall not exceed the percentage reduction ordered
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6 against other agencies of the state in accordance with Section 23,
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7 of Article 10, X of the Oklahoma Constitution.
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8 SECTION 2. AMENDATORY 70 O.S. 2021, Section 3206.6a, is
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9 amended to read as follows:
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10 Section 3206.6a. A. The Oklahoma State Regents for Higher
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11 Education may finance acquisition of or improvements to, or
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12 refinance or restructure outstanding obligations for real property
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13 pursuant to the master lease program. The funds used by the Regents
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14 for the purposes authorized by this section shall be available for
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15 lease transactions having a term that is no more than the useful
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16 life of any real property or improvements acquired by institutions
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17 pursuant to the provisions of this section, and in no event, more
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18 than thirty (30) years.
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19 B. After May 24, 2005, any bonds issued pursuant to this
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20 section shall be subject to the approval of the Legislature as
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21 provided by this subsection. The Oklahoma State Regents for Higher
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22 Education shall submit an itemized list of the proposed projects and
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23 the terms of the financing to the Governor, the Speaker of the House
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24 of Representatives, the President Pro Tempore of the State Senate
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1 and all members of the Legislature within the first seven (7)
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2 legislative days of an annual legislative session and prior to the
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3 time any such obligations are sold. The submission to such elected
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4 officials shall occur upon the same date for purposes of computing
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5 the time within which action must be taken as further prescribed by
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6 this subsection. The Legislature shall have a period of forty-five
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7 (45) calendar days from the date on which the information is
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8 submitted to pass a concurrent resolution disapproving all or part
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9 of the proposed issuance. If the Legislature does not disapprove
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10 the proposed issuance by concurrent resolution by the end of the
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11 forty-fifth day following the date upon which the proposed issuance
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12 is submitted, the proposed issuance shall be deemed to have been
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13 approved by the Legislature.
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14 C. The amount of transactions financed in a calendar year
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15 through the real property master lease program authorized by this
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16 section shall not exceed the combined total of:
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17 1. The submission described in subsection B of this section, or
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18 portion thereof, approved by the Legislature;
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19 2. Any issuance for additional proposed individual projects
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20 submitted by institutions under the coordination of the Oklahoma
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21 State Regents for Higher Education and approved by the Legislature;
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22 and
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1 3. Any projects approved by the Legislature in a prior calendar
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2 year for which no financing action was taken in the prior calendar
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3 year; and
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4 4. Any projects refunded from a previous issuance.
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5 SECTION 3. This act shall become effective November 1, 2025.
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7 60-1-325 QD 12/30/2024 11:02:14 PM
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