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OK SB1108
Bill
Status
2/4/2013
Primary Sponsor
Patrick Anderson
Click for details
AI Summary
SB1108 Summary
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Amends 60 O.S. 2011, Section 670 regarding the Uniform Unclaimed Property Act and the State Treasurer's reserve fund management.
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Dedicates the first $10,000,000 from the unclaimed property reserve fund to the "Oklahoma Teachers' Cost of Living Benefits Adjustment Fund" (COLA) revolving fund in the Office of the State Treasurer.
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Requires all unclaimed property amounts exceeding the necessary reserve to be paid into the State General Revenue Fund, with claim rights preserved against the reserve.
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Becomes effective July 1, 2013 and declares an emergency for immediate implementation.
Legislative Description
Teachers' Retirement System; dedicating monies from unclaimed property. Effective date. Emergency.
Public Finance
Last Action
Second Reading referred to Pensions
2/5/2013