ENGR. S.B. 1020 Summary

• Exempts the Office of the State Treasurer from Section 327 of Title 61 requirements when purchasing, acquiring, leasing, or managing properties for the Office itself.

• Adds new language to 74 O.S. Section 63 clarifying that the Office of Management and Enterprise Services has no authority over state depository operations under the Office of the State Treasurer.

• Creates new Section 374 of Title 74 allowing the Office of the State Treasurer to independently manage its own properties without compliance with standard state real property transaction procedures.

• Establishes a 20-calendar-day review period for the Secretary of the Commissioners of the Land Office to propose alternative acquisitions or disposals before state agencies proceed with real property transactions.

• Becomes effective July 1, 2025, with emergency declaration allowing immediate enactment upon passage and approval.