HB 2379 Summary

• Appropriates funds from the General Revenue Fund to the Oklahoma State Regents for Higher Education for fiscal year ending June 30, 2011, for education, operations, construction, renovations and repairs of higher education institutions.

• Authorizes expenditures from the Higher Education Capital Revolving Fund and Oklahoma Tuition Scholarship Revolving Fund for the same purposes during fiscal year 2011.

• Appropriates additional funds from the Special Cash Fund of the State Treasury for education, operations, construction, renovations and repairs of higher education institutions.

• Establishes spending and encumbrance deadlines: funds budgeted for FY-11 must be encumbered by June 30, 2011 and expended by November 15, 2011; unused funds may be rebudgeted for FY-12 with approved budget revisions.

• Declares an emergency effective date of July 1, 2010 to ensure immediate implementation of appropriations for higher education operations.