OK SB7

Establishes the Oklahoma State Government Asset Reduction and Cost Savings Program requiring the Director of the Office of Management and Enterprise Services to publish annual reports on underutilized and unused state-owned properties.

Creates the Maintenance of State Buildings Revolving Fund to receive the first $50 million from state property sales, with proceeds used exclusively for maintaining and repairing state buildings; remaining proceeds deposited in the General Revenue Fund.

Modifies property disposal procedures requiring state agencies to obtain appraisals and conduct public auctions; reduces minimum acceptable bid from 90% to 75% of appraised value; eliminates appraisal requirements for abandoned properties deemed liabilities.

Requires the Office of Management and Enterprise Services to review and approve all state agency real property transactions within 30 days and maintain a comprehensive inventory of state-owned properties.

Effective date: November 1, 2013.