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SENATE FLOOR VERSION
March 3, 2022
AS AMENDED
SENATE BILL NO. 1627 By: Pugh
[ higher education - Workforce Development Revolving
Fund - purpose of fund - codification - effective
date -
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 create d 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 provisions of
subsection C of this section. Expenditures from the fund shall be
made upon warrants issued by the State Treasurer against claims
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filed as prescribed by law with the Director of the Office of
Management and Enterprise Services for approval and payment.
B. For the fiscal year beginning July 1, 2022, the Legislature
shall appropriate Fifty Million Dollars ($50,000,000.00) to the
Workforce Development Revolving Fund created pursuant to subsection
A of this section.
C. 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.
D. 1. One-third of the funds appropriated pursuant to
subsection B of this section shall be allocated to institutions
within The Oklahoma State System of H igher Education that increase
the number of degrees granted in the area of nursing . The increase
in the number of degrees shall be calculated based on the number of
degrees granted in the area of nursing during the 2021 -2022 academic
year.
2. One-third of the funds appropriated pursuant to subs ection B
of this section shall be allocated to institutions within The
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Oklahoma State System of Higher Education that increase the number
of degrees granted in the area of engineering. The increase in the
number of degrees shall be calculated based on the number of degrees
granted in the area of engineering during the 2 021-2022 academic
year.
3. One-third of the funds appropriated pursuant to subs ection B
of this section shall be allocated to institutions within The
Oklahoma State System of H igher Education that increase the number
of degrees granted in the area of teaching. The increase in the
number of degrees shall be calculated based on the number of degrees
granted in the area of teaching during the 2021-2022 academic year.
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.
COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS
March 3, 2022 - DO PASS AS AMENDED. Title stricken by Committee on
Education.