OK SB1359

Amends 70 O.S. 2001, Section 621.1 to authorize institutions of higher education eligible for Section 13 and New College Funds to expend those funds for ongoing operating expenses during fiscal year ending June 30, 2011, in addition to existing authorized uses for construction, equipment, and capital additions.

References constitutional authority from Sections 1 and 5 of Article XI of the Oklahoma Constitution and statutory references to Title 70, Section 617 and Title 64, Section 355 of the Oklahoma Statutes.

Becomes effective July 1, 2010.

Declared an emergency measure to take effect immediately upon passage and approval for preservation of public peace, health and safety.