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OK SB1975
Bill
Status
Introduced
2/3/2014
Primary Sponsor
Rob Standridge
Click for details
AI Summary
SB1975 Summary
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Amends 62 O.S. 2011, Section 2303 relating to the Tobacco Settlement Endowment Trust Fund established under Article X, Section 40 of the Oklahoma Constitution.
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Deletes the obsolete reference to "on or after July 1, 2001" from the statute defining trust fund principal composition.
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Clarifies that trust fund principal consists of monies deposited to the fund, with income and investment returns accruing to the trust fund regardless of deposit timing.
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Becomes effective November 1, 2014.
Legislative Description
Public finance; deleting obsolete reference relating to Tobacco Settlement Endowment Trust Fund. Effective date.
Public Finance
Last Action
Second Reading referred to Rules
2/4/2014
Committee Referrals
Rules2/4/2014
Full Bill Text
No bill text available