OK HB2765

Transfers the Invest in Oklahoma Program from the Oklahoma Center for the Advancement of Science and Technology to the State Treasurer, who may retain qualified investment advisors and fiduciary managers subject to Invest in Oklahoma Board approval.

Authorizes public entities including retirement systems and state funds to invest up to 5% of their rolling 3-year assets in approved Oklahoma-based private equity, venture capital, and growth funds.

Renames the Cash Management and Investment Oversight Commission to the Invest in Oklahoma Board with restructured membership: Governor (or designee), Lieutenant Governor (or designee), State Treasurer (or designee), and two legislative appointees serving at the pleasure of the Speaker and President Pro Tempore.

Grants the Invest in Oklahoma Board authority to establish and approve investment parameters for Oklahoma-based funds and direct investments, with unanimous vote required to exceed parameters for investments allowed under the Oklahoma Constitution.

Authorizes the State Treasurer to establish internal custodial accounts and enter contracts for custodial services to implement the Invest in Oklahoma program; effective November 1, 2025.