OK HB2765

Transfers the "Invest in Oklahoma" program from the Oklahoma Center for the Advancement of Science and Technology (OCAST) to the State Treasurer, authorizing investments in Oklahoma-based private equity funds, venture capital funds, growth funds, and direct investments in Oklahoma companies.

Renames the Cash Management and Investment Oversight Commission as the "Invest in Oklahoma Board" and restructures membership to include the Governor, Lieutenant Governor, State Treasurer (or their designees), plus appointees from the Speaker of the House and Senate President Pro Tempore.

Authorizes the State Treasurer to invest certain "cash balance amounts" in the program, excluding funds from the General Revenue Fund, Revenue Stabilization Fund, Education Reform Revolving Fund, constitutionally-created funds, and funds with recent legislative appropriations.

Requires the Invest in Oklahoma Board to establish investment parameters and provide final approval for investment advisors and fiduciary managers retained by the State Treasurer, with investment advisors requiring verification of good standing with the SEC and Oklahoma Securities Commission.

Effective date is November 1, 2025.