OK HB3166

Oklahoma State Regents for Higher Education must submit an annual report by January 1 each year to the Governor, legislative leaders, and education committee chairs detailing tuition and fee actions, their impact on student enrollment and financial aid, budget information, funding formulas, and budget allocation differences.

Each institution in The Oklahoma State System of Higher Education must submit an annual report by January 1 each year to the same recipients itemizing tuition and fees by campus or location and providing total budget information including revenue sources and expenses.

Reports must include data on the impact of tuition or fee increases on students' ability to afford attendance, enrollment patterns, and availability of financial aid.

The funding formula or allotment system used to distribute money to each institution must be disclosed with a description of its functional goals.

The act became effective November 1, 2016.