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OK SB1090
Bill
Status
3/25/2025
Primary Sponsor
Kristen Thompson
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AI Summary
ENGROSSED SENATE BILL NO. 1090 Summary
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Transfers administration of the "Invest In Oklahoma" program from OCAST to the State Treasurer, allowing the Treasurer to invest state funds in Oklahoma-based private equity, venture capital, and growth funds.
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Permits nine public entities (including pension systems and the Teachers' Retirement System) to invest up to 5% of their rolling three-year assets under management in approved Invest In Oklahoma program funds, with the State Treasurer authorized to invest up to 5% of maximum funds under its control into the program.
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Restructures the Cash Management and Investment Oversight Commission membership to consist of the Governor, Lieutenant Governor, State Auditor and Inspector, and two citizen members appointed by legislative leaders with investment or auditing expertise.
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Changes investment performance reporting requirements from monthly to quarterly submissions to the Commission, with annual reports due within 90 days of fiscal year end.
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Becomes effective November 1, 2025.
Legislative Description
Public finance; authorizing State Treasurer to implement the Invest In Oklahoma program; authorizing State Treasurer to invest funds into the Invest In Oklahoma program under certain conditions. Effective date.
Last Action
Recommendation to the full committee; Do Pass, amended by committee substitute Appropriations and Budget Finance Subcommittee
4/14/2025