HB2697 Summary

• Repeals Section 4, Chapter 253, O.S.L. 2013 (relating to State Capitol Building provisions from the previous session)

• Creates the Oklahoma State Capitol Building Repair and Restoration Fund as a continuing fund under the Office of Management and Enterprise Services for repair and restoration of the Oklahoma State Capitol building

• Fund monies are appropriated and may be budgeted and expended only for Capitol repair and restoration upon recommendation of the Long-Range Capital Planning Commission, separate from annual capital budgets

• Apportions $60,000,000 to the fund for each of fiscal years beginning July 1, 2013 and July 1, 2014 from oil and gas tax revenue (derived from Section 2355 of Title 68)

• Upon completion of Capitol repairs as determined by the Legislature, remaining fund monies transfer to the Maintenance of State Buildings Revolving Fund; bill declares emergency and takes effect upon passage and approval