OK SB652

Creates the Unclaimed Property Endowment Trust Fund in the State Treasury, funded with unclaimed property monies not deducted or retained as reserves under existing law, with deposits beginning July 1, 2017.

Establishes a five-member Board of Investors of the Unclaimed Property Endowment Trust Fund consisting of the State Treasurer (chair), Governor's appointee, Speaker of the House appointee, President Pro Tempore appointee, and State Auditor and Inspector appointee, with members required to have expertise in public or private investment funds management.

Authorizes the Board to invest fund monies under the same restrictions and laws applicable to state retirement funds and to certify annual earnings including interest, dividends, and realized capital gains for transfer to the General Revenue Fund.

Requires the Board to provide annual itemized estimates of earnings pursuant to Section 34.2 of Title 62 of the Oklahoma Statutes.

Directs transfer of certified earnings to the General Revenue Fund beginning July 1, 2027, with the act becoming effective January 1, 2017.