Senate Joint Resolution 15 Summary

• Directs the Secretary of State to refer a proposed constitutional amendment (adding Section 45 to Article X) to Oklahoma voters for approval.

• Authorizes the State of Oklahoma to issue bonds or obligations up to $2,500,000,000 for education purposes including supplementing teacher salaries, recruiting and retaining STEM and medicine teachers, and funding student programs.

• Bonds must be repaid within 30 years using proceeds from sales tax revenue, and debt service payments are exempt from statutory limits.

• The Oklahoma Building Bonds Commission is designated to issue the obligations and may hire bond counsel and financial consultants; obligations are exempt from all state and local taxation.

• Requires the President Pro Tempore of the Senate to file the amendment and ballot title with the Secretary of State and Attorney General immediately after passage.