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OK HB3054
Bill
Status
2/3/2014
Primary Sponsor
Jason Smalley
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AI Summary
HB3054 Summary
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Requires legislative approval by concurrent resolution each fiscal year before the Tobacco Settlement Endowment Trust Fund Board of Directors can spend earnings accrued during the preceding fiscal year.
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Creates a new section of law to be codified in Title 62, Section 2311 of the Oklahoma Statutes implementing this requirement.
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Grounds the requirement in subsection G of Section 40 of Article X of the Oklahoma Constitution regarding the Trust Fund.
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Becomes effective November 1, 2014.
Legislative Description
Public finance; requiring legislative approval prior to the expenditure of earnings accrued to the Tobacco Settlement Endowment Trust Fund; effective date.
Government
Last Action
Second Reading referred to Administrative Rules, Government Oversight and Repealer
2/4/2014