OK HB3331

School districts must wait 365 days after all bonded indebtedness is retired before calling an election to issue new bonds under Section 15-102 of Title 70

The waiting period does not apply to nondebt capital options including private donations, lease-purchase agreements, and public-private construction partnerships

School facilities destroyed by an act of God are exempt from the one-year waiting period requirement

Bonds issued under Section 26 of Article X of the Oklahoma Constitution before the effective date are considered existing indebtedness for purposes of this waiting period

Effective date: November 1, 2026