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OK SB1642
Bill
Status
2/1/2010
Primary Sponsor
Harry Coates
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AI Summary
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Requires surplus funds in Oklahoma's General Revenue Fund (beyond the Constitutional Reserve Fund) to be transferred to a new Education Emergency Revolving Fund.
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Creates the Education Emergency Revolving Fund as a continuing, non-appropriated fund within the State Treasury administered by the State Department of Education.
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Authorizes the Department to use fund monies for operational expenses relating to common schools, with expenditures requiring State Treasurer warrants and State Finance Director approval.
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Requires the State Superintendent of Public Instruction to annually report all fund expenditures to the Governor, President Pro Tempore of the Senate, and Speaker of the House of Representatives.
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Effective date: November 1, 2010.
Legislative Description
Public finance; providing for deposit of certain revenues to Education Emergency Revolving Fund; creating fund. Effective date.
Education - Common
Last Action
Second Reading referred to Appropriations
2/2/2010