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OK HB2775
Bill
Status
5/29/2025
Primary Sponsor
Trey Caldwell
Click for details
AI Summary
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Authorizes the Oklahoma Capitol Improvement Authority to allocate $41,600,000 from the Legacy Capital Financing Fund for military-related facility construction, refurbishment, or expansion in Oklahoma.
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Requires recapitalization payments to begin in the state fiscal year starting July 1, 2026, with a twenty-year repayment period in accordance with the Legacy Capital Financing Act.
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Permits the Authority to distribute the authorized funds in one or more tranches at its discretion.
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Allows the Authority to enter memoranda of understanding with state agencies, departments, and subdivisions to implement the act, provided such agreements do not create legal obligations for the state or interfere with Legacy Capital Financing Act administration.
Legislative Description
Capitol Improvement Authority; allocation of funds from the Legacy Capital Financing Fund; utilization for purpose of benefitting the Military Department; requiring certain recapitalization payments.
Last Action
Becomes law without Governor's signature 05/29/2025
5/29/2025