OK HB3031

Amends Section 4019 regarding the Oklahoma Capitol Improvement Authority's authorization to issue obligations for endowed chairs, professorships, lectureships, and artist-in-residence positions at Oklahoma higher education institutions.

Modifies the maximum maturity date of obligations from fifteen (15) years to twenty (20) years from the first principal maturity date of any given series.

Authorizes the Oklahoma Capitol Improvement Authority to refinance or restructure outstanding obligations previously issued under this section.

Maintains the $150,000,000 aggregate principal limit on outstanding obligations for endowed chair funding and requires at least 50% of funded positions involve research and development.

Declares an emergency effective immediately upon passage and approval.