OK SB80

Removes the penalty on school district carryover funds (general fund balance) that exceeded specified limits based on district size, effective July 1, 2011.

Eliminates subsection G from the state aid formula in 70 O.S. 2001, Section 18-200.1, which previously allowed the state to reduce aid to districts maintaining excessive carryover for two consecutive years.

Repeals associated provisions requiring the State Department of Education to notify districts of penalty calculations and the process for districts to protest those penalties.

Declared an emergency measure to take effect immediately upon passage and approval, in addition to the July 1, 2011 effective date.