Req. No. 2862 Page 1 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
STATE OF OKLAHOMA
2nd Session of the 58th Legislature (2022)
SENATE BILL 1627 By: Pugh
AS INTRODUCED
An Act relating to higher education; creating t he
Workforce Development Revolving Fund; specifying
source of fund; providing for expenditu res; providing
purpose of fund; directing the Oklahoma State Reg ents
for Higher Education to award funds to certai n
institutions; providing definition; providing for
codification; providing an effective dat e; and
declaring an emergency .
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 3210.1 of Title 70, unless there
is created a duplication in numb ering, reads as follows:
A. There is hereby created in the State Treasury a revolving
fund for the Oklahoma State Regents for Higher Education to be
designated the "Workforce Development Revolving Fund". The fund
shall be a continuing fund, not subject to fiscal year limita tions,
and shall consist of all monies received by the State Regents from
state appropriations . All monies accruing to the credit of the fund
are hereby appropriated and may be budgeted and expended by the
State Regents for the purpose of implementing the provisio ns of
Req. No. 2862 Page 2 1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
subsection B of this section . Expenditures from the fund shall be
made upon warrants issued by the State Treasurer against claims
filed as prescribed by law with the Director of the Office of
Management and Enterprise Services for approval and payme nt.
B. The Oklahoma State Regents for Higher Educati on shall award
funds from the Workforce Development Revolving Fund created pursuant
to subsection A of this section to institutions within The O klahoma
State System of Higher Education that increase the number of degrees
granted to fulfill workforce needs in critical occupation areas.
For the purposes of this section "critical occupation areas" are
those areas identified by the Executive Director of the O klahoma
Department of Commerce that are in high demand and are projected to
have positive future growth.
SECTION 2. This act shall become effective July 1, 2022.
SECTION 3. It being immediately necessary for the preservati on
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof t his act shall take effect and
be in full force from and after its passage and approval.
58-2-2862 EB 1/20/2022 2:55:01 PM