OK SB786

Codifies new section 18-103.2 of Title 70 requiring each school district to receive designated portions of state-appropriated funds for 13 specific purposes beginning with the 2015-2016 school year, including flexible benefit allowances, teacher bonuses, professional development, textbooks, and charter school support.

Amends Section 26-104 to establish that flexible benefit allowance funding for school district employees must be allocated first from State Board of Education funds prior to any other allocation, calculated by multiplying eligible employees by the allowance amount established in Section 26-105.

Requires every school district to establish or make available a cafeteria plan under 26 U.S.C. Section 125 offering major medical health care coverage, with employees able to elect health insurance coverage or receive excess flexible benefit allowance as taxable compensation.

Specifies that flexible benefit allowance amounts are excluded from state retirement contribution calculations, minimum salary schedules for teachers, and salary adjustments for eligible support employees.

Effective July 1, 2015, with emergency clause providing immediate effect upon passage and approval.