HB 1160 Summary

• Appropriates funds to the Oklahoma Capitol Improvement Authority from the General Revenue Fund for fiscal year ending June 30, 2010 (amount to be determined).

• Allows appropriations (excluding capital outlay) to be budgeted for either FY-10 or FY-11, with specific encumbrance and expiration deadlines for each fiscal year.

• Requires unspent FY-10 funds to be expended by November 15, 2010, or returned to the proper fund; similarly, unspent FY-11 funds must be expended by November 15, 2011.

• Permits FY-10 funds not needed for their original fiscal year to be rebud­geted for FY-11 only after agency submission and approval of a budget work program revision by the Office of State Finance.

• Takes effect July 1, 2009, with emergency clause enabling immediate effectiveness upon passage and approval.