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OK HB1399
Bill
Status
2/3/2025
Primary Sponsor
Melissa Provenzano
Click for details
AI Summary
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Reduces the minimum expenditure requirement for allocated bond funds from 85% to 70% for each specific project, unless the project can be completed for a smaller amount.
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Requires governmental entities to publish 70% of bond proceeds with specific projects and dollar amounts in election notices, with remaining 30% left unallocated for flexibility.
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Prohibits school district boards of education from substituting previously approved bond projects with like-kind projects without voter approval.
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Requires any proposed substitution of bond projects to be voted on during a regularly scheduled election and approved by 60% of the electorate.
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Becomes effective November 1, 2025.
Legislative Description
Public indebtedness; Bond Issue Proceeds Act; expenditure of certain allocated monies; like-kind projects prohibition; effective date.
Last Action
Second Reading referred to Rules
2/4/2025