HB 1153 Summary

• Amends 62 O.S. 2011, Section 89.2 to modify authorized investments for public funds managed by the State Treasurer, with modified rating requirements for certain investments.

• Authorizes the State Treasurer to separately invest Constitutional Reserve Fund monies in futures contracts (crude oil and natural gas), options contracts (on futures and Oklahoma-based energy company shares), with limits of 2% per category and minimum margin requirements of 50% initial and 20% maintenance.

• Permits the State Treasurer to contract with third parties to execute the new Constitutional Reserve Fund investment strategies.

• Requires percentage limits for new investment categories to be determined as of the date funds are first invested.

• Effective July 1, 2015, with an emergency clause allowing immediate effect upon passage and approval.