OK HB2927

Allows the State Board of Education to grant emergency exemptions from educational statutory and regulatory requirements when school districts experience a financial crisis.

Defines a financial crisis as a reduction in total revenue from the preceding fiscal year, with the Board authorized to establish additional criteria as needed.

Requires approval from more than 50% of certified employees before individual school or district emergency exemptions can be submitted to the Board; statewide exemptions may be initiated by five or more districts or the Board itself.

Prohibits exemptions from federal requirements, health and safety provisions, teacher salary/retirement/insurance, standardized testing, teacher preparation standards, and curricular requirements.

Sets emergency exemptions for one-year terms renewable if a financial crisis continues to exist; exemption extends through June 30, 2011 at minimum.