OK HB1992

Amends Oklahoma statutes (62 O.S. 2001, Sections 445 and 446) governing sinking funds and surplus fund transfers by counties, cities, towns, and school districts.

Authorizes governing boards or designated municipal officials (in addition to county excise boards) to approve transfers of surplus sinking fund balances to general funds for specified purposes including tax levy reduction, capital improvements, economic development, and technology/energy efficiency upgrades.

Modifies publication requirements for notices of intent to transfer surplus funds and clarifies eligibility conditions related to bond and judgment debt obligations.

Repeals 62 O.S. 2001, Section 447, which previously required district court approval for such transfers.

Passed the Oklahoma House of Representatives on March 15, 2011.