OK HB2392

Appropriates funds from the General Revenue Fund to the Oklahoma Center for the Advancement of Science and Technology for the fiscal year ending June 30, 2011, with the specific dollar amount to be filled in (currently shown as $0.00).

Requires the appropriated funds to be allocated across three categories: Research and Development, Technology Transfer, and Administration, with a portion to be deposited into the Research Support Revolving Fund.

Sets budgetary limitations including full-time-equivalent employee caps (0.0 FTE) and lease-purchase agreement limits ($0.00), with salary caps for the Executive Director position.

Specifies that appropriated funds may be budgeted for fiscal year 2011 or 2012, with strict encumbrance and expenditure deadlines (funds must be expended by November 15 of their respective fiscal years or lapse back to the General Revenue Fund.

Declares the legislation an emergency measure effective July 1, 2010, allowing immediate implementation upon passage and approval.