Oklahoma 2022 Regular Session

Oklahoma House Bill HB4197

Introduced
2/7/22  
Refer
2/8/22  
Refer
2/17/22  

Caption

Public lands; Commissioners of the Land Office; Oklahoma Education Investment Trust; effective date.

Impact

The bill's passage will amend existing statutes that govern the management of public lands, providing a clearer framework for the responsibilities of the new Oklahoma Education Investment Trust. This change is expected to enhance the administration of the trust properties, as it emphasizes the need for evenhanded administration, which proponents argue will lead to improved returns from these lands. Additionally, it aims to protect assets in ways that comply with established legislative goals.

Summary

House Bill 4197 proposes significant changes regarding the management of public lands in Oklahoma by establishing the Oklahoma Education Investment Trust. This new structure will take over the responsibilities previously held by the Commissioners of the Land Office toward school and public lands. The bill aims to ensure that the management of these lands is conducted as a sacred trust for the benefit of specified beneficiaries, focusing on maximizing the value derived from the use and disposition of trust property.

Contention

While the bill seems beneficial in terms of restructuring land management, it also raises questions about its long-term impact on state educational funding and the oversight of public lands. Some stakeholders may have concerns regarding how the new trust will prioritize the needs of the educational system vis-à-vis other potential uses of the land. Transparency and accountability in how the trust manages these assets could become areas for discussion and scrutiny as the bill progresses through the legislative process.

Companion Bills

No companion bills found.

Previously Filed As

OK HB4199

Public lands; Commissioners of the Land Office; investment manager; effective date.

OK SB147

Commissioners of the Land Office; clarifying calculation of cap on investments in real property. Effective date. Emergency.

OK HB2871

Commissioners of the Land Office; permanent school funds; investment caps; effective date; emergency.

OK SB919

Commissioners of the Land Office; clarifying terms of agricultural and commercial leases; requiring value of real property leased by public entities to be accounted for in certain investment cap. Effective date.

OK HB2870

Commissioners of the Land Office; encumbrance requirements; custodial banks; effective date; emergency

OK SB146

Commissioners of the Land Office; allowing selection of one or more custodial banks. Effective date. Emergency.

OK SB1679

Public lands; administration of the land office; changing name. Effective date.

OK HB4198

Officers; Commissioners of the Land Office; open records; exemption; effective date.

OK HB2765

State investing; Invest in Oklahoma Program; reassigning program; investments; rules renaming Cash Management and Investment Oversight Commission the Invest in Oklahoma Board; effective date.

OK SB1432

Oklahoma Education Lottery Act; removing provisions for initial membership of board of trustees; Oklahoma Education Lottery Trust Fund. Emergency.

Similar Bills

No similar bills found.