HB 1140 Summary

• Appropriates funds from the General Revenue Fund to the Oklahoma State Regents for Higher Education for education, operations, construction, and repairs for the fiscal year ending June 30, 2010.

• Authorizes expenditure of funds from the Higher Education Capital Revolving Fund and Oklahoma Tuition Scholarship Revolving Fund for higher education institutions' budgets and programs.

• Appropriates funds from the Special Cash Fund of the State Treasury for education and general operating budgets of institutions and other programs administered by the State Regents.

• Allows appropriations to be budgeted for either FY-10 or FY-11, with specific encumbrance deadlines and lapse provisions (November 15 of the respective fiscal year).

• Declares an emergency effective date of July 1, 2009, allowing the act to take effect immediately upon passage and approval.