OK HB1297

Reduces the percentage of Oklahoma Education Lottery Trust Fund appropriated to higher education from 45% to 40%, freeing 5% for a new Native American Cultural and Education Center Trust Fund.

Creates the Native American Cultural and Education Center Trust Fund as a continuing revolving fund in the State Treasury to be managed by the Native American Cultural and Educational Authority.

Allocates 5% of net lottery proceeds to the Native American Cultural and Education Center Trust Fund exclusively for completing construction of the American Indian Cultural Center and Museum.

When the Native American Cultural and Education Center Trust Fund reaches $30,000,000 from all sources, any additional monies are redirected to construction of educational facilities for elementary schools, higher education, and career and technology education.

Effective date is July 1, 2015, with an emergency clause allowing the act to take effect immediately upon passage and approval.