OK HB2503

Abolishes the Oklahoma Wheat Utilization, Research and Market Development Commission, removing it from state statutes governing revolving funds, central purchasing exemptions, travel reimbursement rules, employee caps, and sunset law provisions

Transfers any unexpended balance in the Wheat Commission's revolving fund to the General Revenue Fund as of November 1, 2016

Limits the 35% administrative expense cap to only the Oklahoma Sheep and Wool Commission, removing the Oklahoma Peanut Commission, Oklahoma Pecan Commission, and Oklahoma Wheat Commission from this restriction

Repeals multiple sections of the Oklahoma Wheat Resources Act (Sections 18-301, 18-303 through 18-306, 18-314 through 18-316) that established the Commission's structure, membership, and operations

Effective date: November 1, 2016