OK SB706

Removes limitations on school district general fund carryover balances that previously ranged from 17% to 48% depending on district size, eliminating penalties for exceeding those thresholds

Eliminates the State Aid reduction penalty that was assessed against districts maintaining excess carryover funds for two consecutive years

Removes the exemption language that excluded gifts, grants, and donations for noncapital expenditures from general fund carryover calculations

Modifies per pupil revenue calculations by using the preceding year's weighted average daily membership instead of the second preceding year for the July calculation

Takes effect July 1, 2025, with an emergency clause for immediate implementation upon passage and approval