OK HB2694

Exempts the Commissioners of the Land Office from state agency requirements to use standardized construction manager, consultant, and construction contract forms required by the Department of Real Estate Services

Excludes the Commissioners of the Land Office from the definition of "state agency" under both the state consultant statutes and the Public Facilities Act, granting operational independence similar to the Oklahoma Turnpike Authority and Oklahoma State Regents for Higher Education

Authorizes the Commissioners to solicit written proposals for the lease, sale, exchange, construction, maintenance, repair, improvement, development, or redevelopment of "investment real property" (defined as property acquired for investment purposes, excluding original Enabling Act of 1906 lands)

Requires proposals for investment real property to be evaluated by the Land Office investment committee based on economic benefit to the trust, qualifications and experience of the provider, and financial ability to perform; final decisions require majority vote of Commissioners in open meeting

Authorizes the Commissioners to retain investment managers for both fund monies and management of investment real property pursuant to the annual investment plan