HB1282 Summary

• Renames the "Oklahoma State Regents' Academic Scholars Act" to the "Oklahoma Rising Scholars Award Act" and updates all related program terminology throughout the statute.

• Expands scholarship eligibility to include students scoring in the 99.5-100.0 percentile on standardized tests, Presidential Scholars, National Merit Scholars and Finalists, and Institutional Nominees with scores in the 95.0-99.49 percentile or exceptional academic achievement.

• Provides scholarships covering enrollment fees, tuition, room and board, and required textbooks for up to 5 years of undergraduate and/or graduate study at accredited Oklahoma institutions, with separate funding caps for public and private institutions.

• Requires institutions within the Oklahoma State System of Higher Education to provide tuition waivers for Institutional Nominees, with waivers portable only between institutions in that system and subject to further limitations by the State Regents.

• Becomes effective July 1, 2025, with an emergency clause allowing immediate effect upon passage and approval.