OK HB2566

Renames and expands the Oklahoma Agricultural Commodity Referendum Act to allow existing statutory commodity boards to privatize and convert to successor organizations approved by the Commissioner.

Establishes procedures for nonprofit organizations to petition for certification as commodity boards or for successor organizations to replace existing statutory boards, with specific requirements for petitions, elections, and board operations.

Allows successor organizations to follow bylaws and statutory assessment provisions rather than state regulatory requirements, removes budget approval requirements, and extends audit schedules and annual report filing deadlines.

Addresses employee retirement and benefits by allowing employees of converted boards to remain in the Oklahoma Public Employees Retirement System, requiring successor organizations to pay employer contributions and recognize accumulated leave.

Transfers property, equipment, and funds from statutory boards to successor organizations upon Commissioner approval, and dissolves the Oklahoma Peanut Commission and Wheat Commission if successor organizations are approved to assume their statutory assessments.