Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
1
2 1st Session of the 60th Legislature (2025)
2
3 SENATE BILL 479 By: Daniels
3
4
4
5
5
6 AS INTRODUCED
6
7 An Act relating to the State Capitol Building;
7 amending 73 O.S. 2021, Sections 345 and 346, which
8 relate to the renovation, repair, and remodeling of
8 the State Capitol Building; dissolving the State
9 Capitol Repair Expenditure Oversight Committee;
9 updating statutory language; updating statutory
10 reference; and providing an effective date.
10
11
11
12
12
13 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
13
14 SECTION 1. AMENDATORY 73 O.S. 2021, Section 345, is
14
15 amended to read as follows:
15
16 Section 345. A. In addition to any other authorization
16
17 provided by law, the Oklahoma Capitol Improvement Authority is
17
18 authorized to issue obligations to acquire real property, together
18
19 with improvements located thereon, and personal property to
19
20 construct improvements to real property and to provide funding for
20
21 repairs, refurbishments and improvements to real and personal
21
22 property of the State Capitol Building in a total amount not to
22
23 exceed One Hundred Twenty Million Dollars ($120,000,000.00). The
23
24
24
Req. No. 606 Page 1
1 funds shall be used for the renovation, repair and remodeling of the
1
2 State Capitol Building.
2
3 B. The Authority may hold title to the property and
3
4 improvements until such time as any obligations issued for this
4
5 purpose are retired or defeased and may lease the property and
5
6 improvements to the Office of Management and Enterprise Services.
6
7 Upon final redemption or defeasance of the obligations created
7
8 pursuant to this section, title to the property and improvements
8
9 shall be transferred from the Oklahoma Capitol Improvement Authority
9
10 to the Office of Management and Enterprise Services.
10
11 C. For the purposes of paying the costs for construction of the
11
12 real property and improvements, and providing funding for the
12
13 project authorized in subsection A of this section, and for the
13
14 purpose authorized in subsection D of this section, the Authority is
14
15 hereby authorized to borrow monies on the credit of the income and
15
16 revenues to be derived from the leasing of such property and
16
17 improvements and, in anticipation of the collection of such income
17
18 and revenues, to issue negotiable obligations in a total amount not
18
19 to exceed One Hundred Twenty Million Dollars ($120,000,000.00)
19
20 whether issued in one or more series. The Authority is authorized
20
21 to capitalize interest on the obligations issued pursuant to this
21
22 section for a period of not to exceed one (1) year from the date of
22
23 issuance. For subsequent fiscal years, it is the intent of the
23
24 Legislature to appropriate to the Office of Management and
24
Req. No. 606 Page 2
1 Enterprise Services sufficient monies to make rental payments for
1
2 the purpose of retiring the obligations created pursuant to this
2
3 section. To the extent funds are available from the proceeds of the
3
4 borrowing authorized by this subsection, the Oklahoma Capitol
4
5 Improvement Authority shall provide for the payment of professional
5
6 fees and associated costs related to the project authorized in
6
7 subsection A of this section.
7
8 D. The Authority may issue obligations in one or more series
8
9 and in conjunction with other issues of the Authority. The
9
10 Authority is authorized to hire bond counsel, financial consultants,
10
11 and such other professionals as it may deem necessary to provide for
11
12 the efficient sale of the obligations and may utilize a portion of
12
13 the proceeds of any borrowing to create such reserves as may be
13
14 deemed necessary and to pay costs associated with the issuance and
14
15 administration of such obligations.
15
16 E. The obligations authorized under this section may be sold at
16
17 either competitive or negotiated sale, as determined by the
17
18 Authority, and in such form and at such prices as may be authorized
18
19 by the Authority. The Authority may enter into agreements with such
19
20 credit enhancers and liquidity providers as may be determined
20
21 necessary to efficiently market the obligations. The obligations
21
22 may mature and have such provisions for redemption as shall be
22
23 determined by the Authority, but in no event shall the final
23
24
24
Req. No. 606 Page 3
1 maturity of such obligations occur later than ten (10) years from
1
2 the first principal maturity date.
2
3 F. Any interest earnings on funds or accounts created for the
3
4 purposes of this section may be utilized as partial payment of the
4
5 annual debt service or for the purposes directed by the Authority.
5
6 G. The obligations issued under this section, the transfer
6
7 thereof and the interest earned on such obligations, including any
7
8 profit derived from the sale thereof, shall not be subject to
8
9 taxation of any kind by the State of Oklahoma this state, or by any
9
10 county, municipality or political subdivision therein.
10
11 H. The Authority may direct the investment of all monies in any
11
12 funds or accounts created in connection with the offering of the
12
13 obligations authorized under this section. Such investments shall
13
14 be made in a manner consistent with the investment guidelines of the
14
15 State Treasurer. The Authority may place additional restrictions on
15
16 the investment of such monies if necessary to enhance the
16
17 marketability of the obligations.
17
18 I. There is hereby created a State Capitol Repair Expenditure
18
19 Oversight Committee. The proceeds from the sale of obligations
19
20 issued pursuant to the provisions of this section and Section 1 of
20
21 Enrolled House Bill No. 3168 of the 2nd Session of the 55th Oklahoma
21
22 Legislature that are needed for repairs to the interior and exterior
22
23 of the State Capitol shall be subject to the approval of the State
23
24 Capitol Repair Expenditure Oversight Committee; provided, however,
24
Req. No. 606 Page 4
1 the expenditure of those proceeds shall be subject to a request for
1
2 proposal process.
2
3 The Committee shall be composed of nine (9) members as follows:
3
4 1. Three persons to be appointed by the Governor, one of whom
4
5 shall serve as chair of the Committee;
5
6 2. Three legislators to be appointed by the Speaker of the
6
7 House of Representatives, two of whom shall be members of the
7
8 majority political party and one of whom shall be a member of the
8
9 minority political party; and
9
10 3. Three legislators to be appointed by the President Pro
10
11 Tempore of the Senate, two of whom shall be members of the majority
11
12 political party and one of whom shall be a member of the minority
12
13 political party. Five members of the Committee shall constitute a
13
14 quorum and the vote of five members shall be necessary for any
14
15 action taken by the Committee. The Committee shall be staffed by
15
16 employees of the Office of Management and Enterprise Services. The
16
17 Committee shall be subject to the Oklahoma Open Meeting Act.
17
18 J. The Committee shall deliver a preliminary plan for the
18
19 renovation, repair and remodeling of the State Capitol to the
19
20 Director of the Office of Management and Enterprise Services no
20
21 later than December 31, 2014. The preliminary plan shall include
21
22 the following components:
22
23 1. Establishment of the Office of Management and Enterprise
23
24 Services' goal and criteria for use by the vendor; and
24
Req. No. 606 Page 5
1 2. Selection criteria for the design-build team vendor to be
1
2 selected through a Request For Proposal process.
2
3 K. Following receipt of the preliminary plan as approved by the
3
4 Committee, the Office of Management and Enterprise Services shall
4
5 solicit Requests For Proposals to select the vendor for the project.
5
6 L. The Committee shall deliver a final plan to the Director of
6
7 the Office of Management and Enterprise Services no later than June
7
8 30, 2015. The final plan shall include the following components:
8
9 1. Approval of the final scope of work developed by the vendor;
9
10 and
10
11 2. Approval of the project phasing developed by the vendor.
11
12 M. Following delivery of the final plan, the Committee shall
12
13 continue to oversee the expenditure of proceeds from the sale of
13
14 obligations issued pursuant to the provisions of this section and
14
15 Section 1 of Enrolled House Bill No. 3168 of the 2nd Session of the
15
16 55th Legislature, until completion of the renovation, repair and
16
17 remodeling of the State Capitol. The Committee may also propose and
17
18 approve amendments to the plan as it deems appropriate.
18
19 N. The Director of the Office of Management and Enterprise
19
20 Services shall have responsibility to substantially implement the
20
21 plan as presented by the Committee; provided, the President Pro
21
22 Tempore of the Senate or the Speaker of the House of Representatives
22
23 shall approve all proposed designs related to renovation, repair and
23
24 remodeling of space within the State Capitol Building under the
24
Req. No. 606 Page 6
1 management and control of the Legislature and allocated to that
1
2 officer's house of the Legislature pursuant to the provisions of
2
3 Section 15.1 of this title, and any subsequent changes to such
3
4 plans. Joint approval of the President Pro Tempore of the Senate
4
5 and the Speaker of the House of Representatives shall be required
5
6 for such plans for space under the management and control of the
6
7 Legislature and not allocated to a specific house of the
7
8 Legislature. Such approval shall be in writing.
8
9 O. Insofar as they are not in conflict with the provisions of
9
10 this section, the provisions of Section 151 et seq. of this title
10
11 shall apply to this section.
11
12 SECTION 2. AMENDATORY 73 O.S. 2021, Section 346, is
12
13 amended to read as follows:
13
14 Section 346. A. In addition to any other authorization
14
15 provided by law, the Oklahoma Capitol Improvement Authority is
15
16 authorized to issue obligations to acquire real property, together
16
17 with improvements located thereon, and personal property to
17
18 construct improvements to real property and to provide funding for
18
19 repairs, refurbishments and improvements to real and personal
19
20 property of the State Capitol Building and associated furniture,
20
21 fixtures and equipment in a total amount not to exceed One Hundred
21
22 Twenty-five Million Dollars ($125,000,000.00). The funds shall be
22
23 used for the renovation, repair and remodeling of the State Capitol
23
24 Building.
24
Req. No. 606 Page 7
1 B. The Authority may hold title to the property and
1
2 improvements until such time as any obligations issued for this
2
3 purpose are retired or defeased and may lease the property and
3
4 improvements to the Office of Management and Enterprise Services.
4
5 Upon final redemption or defeasance of the obligations created
5
6 pursuant to this section, title to the property and improvements
6
7 shall be transferred from the Oklahoma Capitol Improvement Authority
7
8 to the Office of Management and Enterprise Services.
8
9 C. For the purposes of paying the costs for construction of the
9
10 real property and improvements, and providing funding for the
10
11 project authorized in subsection A of this section, and for the
11
12 purpose authorized in subsection D of this section, the Authority is
12
13 hereby authorized to borrow monies on the credit of the income and
13
14 revenues to be derived from the leasing of such property and
14
15 improvements and, in anticipation of the collection of such income
15
16 and revenues, to issue negotiable obligations in a total amount not
16
17 to exceed One Hundred Twenty-five Million Dollars ($125,000,000.00)
17
18 whether issued in one or more series. The Authority is authorized
18
19 to capitalize interest on the obligations issued pursuant to this
19
20 section for a period of not to exceed one (1) year from the date of
20
21 issuance. For subsequent fiscal years, it is the intent of the
21
22 Legislature to appropriate to the Office of Management and
22
23 Enterprise Services sufficient monies to make rental payments for
23
24 the purpose of retiring the obligations created pursuant to this
24
Req. No. 606 Page 8
1 section. To the extent funds are available from the proceeds of the
1
2 borrowing authorized by this subsection, the Oklahoma Capitol
2
3 Improvement Authority shall provide for the payment of professional
3
4 fees and associated costs related to the project authorized in
4
5 subsection A of this section; provided, that no such fees or costs
5
6 may be paid if such payments would jeopardize the tax-advantaged
6
7 status of the bonds under federal law.
7
8 D. The Authority may issue obligations in one or more series
8
9 and in conjunction with other issues of the Authority. The
9
10 Authority is authorized to hire bond counsel, financial consultants,
10
11 and such other professionals as it may deem necessary to provide for
11
12 the efficient sale of the obligations and may utilize a portion of
12
13 the proceeds of any borrowing to create such reserves as may be
13
14 deemed necessary and to pay costs associated with the issuance and
14
15 administration of such obligations.
15
16 E. The obligations authorized under this section may be sold at
16
17 either competitive or negotiated sale, as determined by the
17
18 Authority, and in such form and at such prices as may be authorized
18
19 by the Authority. The Authority may enter into agreements with such
19
20 credit enhancers and liquidity providers as may be determined
20
21 necessary to efficiently market the obligations. The obligations
21
22 may mature and have such provisions for redemption as shall be
22
23 determined by the Authority, but in no event shall the final
23
24 maturity of such obligations occur later than twenty (20) years from
24
Req. No. 606 Page 9
1 the first principal maturity date. The first principal maturity
1
2 date for each series of bonds sold under this authorization shall
2
3 occur no later than eighteen (18) months from its delivery date. No
3
4 bonds shall be delivered prior to July 1, 2018.
4
5 F. Any interest earnings on funds or accounts created for the
5
6 purposes of this section may be utilized as partial payment of the
6
7 annual debt service or for the purposes directed by the Authority.
7
8 G. The obligations issued under this section, the transfer
8
9 thereof and the interest earned on such obligations, including any
9
10 profit derived from the sale thereof, shall not be subject to
10
11 taxation of any kind by the State of Oklahoma this state, or by any
11
12 county, municipality or political subdivision therein.
12
13 H. The Authority may direct the investment of all monies in any
13
14 funds or accounts created in connection with the offering of the
14
15 obligations authorized under this section. Such investments shall
15
16 be made in a manner consistent with the investment guidelines of the
16
17 State Treasurer. The Authority may place additional restrictions on
17
18 the investment of such monies if necessary to enhance the
18
19 marketability of the obligations.
19
20 I. The proceeds from the sale of obligations issued pursuant to
20
21 the provisions of this section that are needed for repairs,
21
22 refurbishments and improvements to real and personal property of the
22
23 State Capitol Building, and associated furniture, fixtures and
23
24 equipment for the State Capitol shall be subject to the approval of
24
Req. No. 606 Page 10
1 the State Capitol Repair Expenditure Oversight Committee created
1
2 pursuant to Section 345 of Title 73 of the Oklahoma Statutes.
2
3 J. Insofar as they are not in conflict with the provisions of
3
4 this section, the provisions of Section 151 et seq. of Title 73 of
4
5 the Oklahoma Statutes this title shall apply to this section.
5
6 SECTION 3. This act shall become effective November 1, 2025.
6
7
7
8 60-1-606 RD 1/19/2025 5:37:12 AM
8
9
9
10
10
11
11
12
12
13
13
14
14
15
15
16
16
17
17
18
18
19
19
20
20
21
21
22
22
23
23
24
24
Req. No. 606 Page 11Every fact on this page links to its source, starting with the official bill record.