Oklahoma 2022 Regular Session

Oklahoma House Bill HB4197 Compare Versions

Only one version of the bill is available at this time.

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28	28	STATE OF OKLAHOMA
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30	30	2nd Session of the 58th Legislature (2022)
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32	32	HOUSE BILL 4197 By: Echols
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38	38	AS INTRODUCED
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40	40	An Act relating to public lands; amending 64 O.S.
41	41	2021, Section 1001, which relates to the
42	42	Commissioners of the Land Office; establishing that
43	43	the agency under the Commissioners of the Land Office
44	44	shall be known as the Oklahoma Education Investment
45	45	Trust; and providing effective date .
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52	52	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
53	53	SECTION 1. AMENDATORY 64 O.S. 2021, Section 1001, is
54	54	amended to read as foll ows:
55	55	A. The Governor, Lieutenant Governor, State Auditor and
56	56	Inspector, Superintendent of Public Instruction, and the President
57	57	of the State Board of Agriculture shall constitute the Commissioner s
58	58	of the Land Office. The Commissioners of the Land Office shall have
59	59	charge of the sale, exchange, rental, disposal, and management of
60	60	the school lands and other public lands of the state and of the
61	61	funds and proceeds derived from the lands. The school lands and
62	62	public lands of the state and the funds and procee ds derived from
63	63	the lands shall be managed as a sacred trust for the exclusive
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90	90	benefit of the beneficiaries and for the return of full value from
91	91	the use and disposition of the trust property and as prescribed by
92	92	the Legislature to attain the trust goals b y protection of assets
93	93	coupled with maximum return and to provide standards to foster
94	94	evenhanded and proper administration of the trust.
95	95	B. The Commissioners of the Land Office shall possess and
96	96	retain all powers and duties irrevocably granted pursuant to the
97	97	Constitution of the State of Oklahoma, the Enabling Act of Oklahoma,
98	98	and laws governing the proper administration of trusts.
99	99	C. The agency under the Commissioners of the La nd Office shall
100	100	be known and may be cited as the "Oklahoma Education Investment
101	101	Trust".
102	102	SECTION 2. This act shall become effective November 1, 2022.
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104	104	58-2-10127 MJ 12/27/21