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OK SB1090
Bill
Status
3/25/2025
Primary Sponsor
Kristen Thompson
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AI Summary
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Transfers administration of the "Invest In Oklahoma" program from the Oklahoma Center for the Advancement of Science and Technology (OCAST) to the State Treasurer, who may now retain qualified investment advisors to select private equity, venture capital, growth funds, and direct investments in Oklahoma companies
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Reconstitutes the Cash Management and Investment Oversight Commission membership to include the Governor, Lieutenant Governor, State Auditor and Inspector, Speaker of the House, and President Pro Tempore of the Senate, replacing previous members from executive agencies
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Authorizes the State Treasurer to invest up to 5% of funds under their control into the Invest In Oklahoma program, with eligible public entities (including various state retirement systems) permitted to invest up to 5% of their rolling three-year assets under management
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Changes reporting requirements from monthly to quarterly for investment performance reports submitted to the Commission, and eliminates the Executive Review Committee of the Commission
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Effective date is 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