OK HB1742

Amends the State Aid formula for Oklahoma school districts by simplifying the general fund balance carryover penalty thresholds from eight categories to just two categories.

Districts with general fund collections of $0 to $5,999,999 may retain up to 40% carryover balance without penalty (consolidates previous tiers ranging from 20-35% for smaller amounts).

Districts with general fund collections of $6,000,000 or more may retain up to 20% carryover balance without penalty (replaces previous 14-18% limits for larger districts).

State Aid reductions apply only when a district exceeds the allowable carryover percentage for two consecutive years.

Effective date of July 1, 2013, with emergency clause for immediate implementation upon passage and approval.