OK SB154

Amends 60 O.S. 2011, Section 176 to require public trusts to comply with the Public Competitive Bidding Act of 1974 for contracts and bidding requirements.

Increases emergency exemption threshold for construction, labor, equipment, material, or repairs contracts from $50,000 to $75,000, allowing public trusts to bypass competitive bidding during emergencies.

Requires bylaws for public trusts with the State of Oklahoma as beneficiary to be submitted in writing to the Governor for approval before taking effect.

Mandates public trusts file annual financial documents and reports (budgets, financial reports, bond indentures, and audits) with their respective beneficiaries.

Establishes composition requirements for county jail facility trusts, requiring not fewer than five members including a county commissioner, county sheriff, and one member appointed by each county commissioner.