OK SB363

Requires all private and out-of-state public degree-granting institutions to be accredited by a U.S. Department of Education-recognized accrediting agency and domiciled within the United States or a U.S. district or territory.

Mandates Oklahoma State Regents establish authorization policies and collect annual fees from applicants beginning with the 2023-2024 academic year, with funds directed to a Tuition Recovery Revolving Fund for student protection if institutions close.

Exempts religious degree-granting institutions, institutions in Oklahoma Tuition Equalization Grant programs, out-of-state institutions in state authorization reciprocity agreements, and institutions offering only religious degrees meeting specified criteria from accreditation requirements.

Requires religious degrees to include a religious modifier on the degree, transcript, and all official school documents and publications.

Becomes effective July 1, 2025, with emergency clause allowing immediate effect upon passage and approval.