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STATE OF OKLAHOMA
1st Session of the 58th Legislature (2021)
COMMITTEE SUBSTITUTE
FOR
SENATE BILL 1082 By: Thompson and Hall of the
Senate
and
Wallace and Hilbert of the
House
COMMITTEE SUBSTITUTE
An Act relating to the Oklahoma Department of
Commerce; requiring that portions of certain
appropriated funds be used for certain purposes ;
providing for lapse of funds under certain
conditions; requiring certain budget procedures; and
prohibiting certain budget procedures .
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. From the funds appropriated to the Oklahoma
Department of Commerce in Section 38 of Enrolled House Bill No. 2900
of the 1st Session of the 58th Oklahoma Legislature, the Department
of Commerce shall spend One Million Four Hundred Sixty Thousand
Dollars ($1,460,000.00) to implement the provisions of Section
5003.12 of Title 74 of the Oklahoma Statu tes. These funds shall be
used to supplement rather than replace existing resour ces.
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SECTION 2. From the funds appropriated to the Oklahoma
Department of Commerce in Section 149 of Enrolled House Bill No.
2900 of the 1st Session of the 58th Oklahoma Legislature, not less
than Fifteen Million Dollars ($15,000,000.00) shall be used to fund
and implement the Oklahoma Accelerator Program . In addition to the
funds appropriated, this program shall leverage private capital with
the objective of stimulating growth of early-stage startup companies
throughout this state by connecting them with global entrepreneurial
ecosystems to drive business talent and investment opportunities.
SECTION 3. Appropriations made to the Oklahoma Department of
Commerce by Enrolled House Bill No. 2900 of the 1st Session of the
58th Oklahoma Legislature, not including appropriations made for
capital outlay purposes, may be budgeted for the fiscal year ending
June 30, 2022 (hereafter FY-22), or may be budgeted for the fiscal
year ending June 30, 2023 (hereafter FY-23). Funds budgeted for FY-
22 may be encumbered only through June 30, 2022, and must be
expended by November 15, 2022. Any funds remaining after November
15, 2022, and not budgeted for FY -23, shall lapse to the credit of
the proper fund for the then current fiscal year. Fun ds budgeted
for FY-23 may be encumbered only through June 30, 2023. Any funds
remaining after November 15, 2023, shall lapse to the credit of the
proper fund for the then current fiscal year. These appropriations
shall not be budgeted in both fiscal year s simultaneously. Funds
budgeted in FY-22, and not required to pay obligations for that
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fiscal year, may be budgeted for FY -23, after the agency to which
the funds have been appropriated has prepared and submitted a budget
work program revision removing t hese funds from the FY-22 budget
work program and after such revision has been approved by the Office
of Management and Enterprise Services .
58-1-2200 JR 5/17/2021 7:38:38 PM