OK SB1586

Appropriates $100,000 from the General Revenue Fund to the Oklahoma State Regents for Higher Education for fiscal year ending June 30, 2017.

Allows appropriated funds (excluding capital outlay) to be budgeted for either FY-17 or FY-18, but not both simultaneously.

Requires FY-17 funds to be encumbered by June 30, 2017 and expended by November 15, 2017; requires FY-18 funds to be encumbered by June 30, 2018 and expended by November 15, 2018.

Permits unused FY-17 funds to be rebudgeted for FY-18 only after the agency submits and receives Office of Management and Enterprise Services approval of a budget work program revision.

Takes effect July 1, 2016 and declares an emergency for immediate implementation.