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28	28	STATE OF OKLAHOMA
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30	30	1st Session of the 59th Legislature (2023)
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32	32	HOUSE BILL 2796 By: Stinson
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38	38	AS INTRODUCED
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40	40	An Act relating to professions and occupations ;
41	41	creating the Oklahoma Accountancy Board Revolving
42	42	Fund; providing for deposits and expenditures;
43	43	requiring certain percentage be paid to the General
44	44	Revenue Fund; stating purpose of revolving fund;
45	45	allowing for transfer of ce rtain funds for certain
46	46	program; amending 59 O.S. 2021, Sections 15.7,
47	47	15.14B, and 15.24, which relate to the Oklahoma
48	48	Accountancy Act; updating references; modifying
49	49	language; authorizing a student scholarship and grant
50	50	program for certain purpose; stating eligibility
51	51	requirements; directing promulgation of rules, forms,
52	52	fee, and procedures by Board; authorizing the Board
53	53	to set amount of awards, application fees, and
54	54	additional criteria for the program; limiting funding
55	55	for program to collection of administrative fines;
56	56	directing Board to determine program funding
57	57	annually; providing for transfer of mon ies from
58	58	revolving fund to certain account; stating
59	59	administrator of certain account; providing for
60	60	expenditures; making certain funding subject to
61	61	availability of certain funds; prohibiting transfer
62	62	or expenditure of certain funds without Board
63	63	approval; providing for repayments and reimbursements
64	64	of certain funds; directing deposit; providing
65	65	certain exemption for certain percentage to be paid
66	66	to General Revenue Fund; requiring certain report;
67	67	directing certain distribution of report; stating
68	68	content of report; providing for codification; and
69	69	providing an effectiv e date.
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101	101	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
102	102	SECTION 1. NEW LAW A new section of law to be codified
103	103	in the Oklahoma Statutes as Section 15.17A of Title 59, unless there
104	104	is created a duplication in numb ering, reads as follo ws:
105	105	There is hereby created in the State Treasur y a revolving fund
106	106	for the Oklahoma Accountan cy Board to be designated the "Oklahoma
107	107	Accountancy Board Revolving Fund". The fund shall be a continuing
108	108	fund, not subject to fiscal limitations, and shall consist of all
109	109	monies received by the Board pursuant to the provisions of the
110	110	Oklahoma Accountancy Act. All monies accruing to the credit of this
111	111	fund are hereby appropriated and may be budgeted and expended by the
112	112	Board for the purposes of implementing and e nforcing the provisions
113	113	of the Oklahoma Accountancy A ct. Expenditures from this fund shall
114	114	be made upon warrants issued by the State Treasurer against claims
115	115	filed as prescribed by law with the Director of the Office of
116	116	Management and Enterprise Services for approval and payment. The
117	117	Board shall pay into t he General Revenue Fund of the state ten
118	118	percent (10%) of all annual registration fees deposited to this
119	119	fund. From the monies deposited to this fund from administrative
120	120	fines the Board shall periodically transfer such amounts as the
121	121	Board determines to fund the student scholarship and grant program
122	122	established in Section 5 of this act provided such funds are
123	123	available and not otherwise encumbered.
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150	150	SECTION 2. AMENDATORY 59 O.S. 20 21, Section 15.7, is
151	151	amended to read as follows:
152	152	Section 15.7 All fees and other monies except the fines as
153	153	provided in Section 15.24 of this title received by the Oklahoma
154	154	Accountancy Board pursuant to the provisions of the Oklahoma
155	155	Accountancy Act shall be expended solely for effectuating th e
156	156	purposes of the Oklahoma A ccountancy Act and shall be deposited to
157	157	the credit of the Board with the Oklahoma State Treasurer
158	158	Accountancy Board Revolving Fund created in Section 1 of this act.
159	159	After the close of eac h fiscal year the Board shall file with the
160	160	Governor a report of al l fees charged, collected and received and
161	161	all disbursements during the previous fiscal year. The Board shall
162	162	pay into the General Revenue Fund of the state ten percent (10%) of
163	163	all annual registration fees so charged, collected and received, and
164	164	no other portion shall ever revert to the General Revenue Fund or
165	165	any other fund of the state.
166	166	All salaries, fees, and other expenses incurred by the Board in
167	167	the performance of the duties imposed by the provisions of the
168	168	Oklahoma Accountancy Act shall be paid fro m the Board's Oklahoma
169	169	Accountancy Board Revolving Fund and none of said such expenses
170	170	shall be a charge against the general funds of this state.
171	171	SECTION 3. AMENDATORY 59 O.S. 2021, Section 15.14B, is
172	172	amended to read as follows:
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199	199	Section 15.14B After notice and hearing, the Oklahoma
200	200	Accountancy Board may impose any one or more of the penalties and
201	201	administrative fines authorized in Section 15.24 of this title on a
202	202	certified public accountant or a public accountant for any one or
203	203	more of the following causes:
204	204	1. Fraud or deceit in obtaining a certificate, license,
205	205	practice privilege or permit;
206	206	2. Dishonesty, fraud, or gross negligence in accountancy or
207	207	financially related activities;
208	208	3. Conviction, plea of guilty , or plea of nolo contendere of a
209	209	felony in a court of competent jurisdiction of any state or federal
210	210	court of the United States if the acts involved would have
211	211	constituted a felony under the laws of this s tate;
212	212	4. Conviction, plea of guilty , or plea of nolo contendere of
213	213	any misdemeanor, an element of which is dishonesty or fraud,
214	214	pursuant to the laws of the United States or any jurisdiction if the
215	215	acts involved would have constituted a misdemeanor under t he laws of
216	216	this state;
217	217	5. Failure to comply with professional stan dards in the Board's
218	218	professional code of conduct to the attest and/or compilation
219	219	competency requirement for those who supervise attest and/or
220	220	compilation engagements and sign the report o n financial statements
221	221	or other compilation communications with res pect to financial
222	222	statements; and
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249	249	6. Violation of any of the provisions of the Oklahoma
250	250	Accountancy Act and rules promulgated for its implementation by the
251	251	Board.
252	252	SECTION 4. AMENDATORY 59 O.S. 20 21, Section 15.24, is
253	253	amended to read as follows:
254	254	Section 15.24 A. In the event an individual, certified public
255	255	accountant, public accountant, firm or entity, after proper notice
256	256	and hearing, is found to have violated on e or more provisions of the
257	257	Oklahoma Accountancy Act, the Board may impose one or more of the
258	258	following penalties on the offending individual, firm or entity:
259	259	1. Revoke any certificate, license, practice privilege or
260	260	permit issued pursuant to the provisio ns of the Oklahoma Accountancy
261	261	Act;
262	262	2. Suspend any certificate, li cense, practice privilege or
263	263	permit for not more than five (5) years, subject to such terms,
264	264	conditions, or limitations as deemed appropriate by the Board;
265	265	3. Reprimand a registrant, an in dividual granted practice
266	266	privileges under Section 15.12A of this t itle, or a firm exempt from
267	267	the permit and registration requirements under Section 15.15C of
268	268	this title;
269	269	4. Place a registrant, an individual granted practice
270	270	privileges under Section 15.1 2A of this title, or a firm exempt from
271	271	the permit and registration requirements under Section 15.15C of
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298	298	this title on probation for a specified period of time, which may be
299	299	shortened or lengthened, as the Board deems appropriate;
300	300	5. Limit the scope of pr actice of a registrant, an ind ividual
301	301	granted practice privileges u nder Section 15.12A of this title, or a
302	302	firm exempt from the permit and registration requirements under
303	303	Section 15.15C of this title;
304	304	6. Deny renewal of a permit;
305	305	7. Require a preissuance review or accelerated peer re view of
306	306	the registrant subject to suc h procedures as the Board deems
307	307	appropriate;
308	308	8. Require successful completion of continuing professional
309	309	educational programs deemed appropriate;
310	310	9. Assess a an administrative fine not to exceed Ten Thousand
311	311	Dollars ($10,000.00) for each separate offense; and
312	312	10. Require the registrant, individual or entity to pay all
313	313	costs incurred by the Board as a result of hearings conducted
314	314	regarding accountancy actions of the registrant, individual , or
315	315	entity, including, but not limited t o, attorney fees, investigation
316	316	costs, hearing officer costs, renting of special facilities costs,
317	317	and court reporter costs.
318	318	B. Upon application in writing, the Board may reinstate a
319	319	certificate, license, practice p rivilege or permit which has been
320	320	revoked, or may modify, upon good cause as to why the individual or
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347	347	entity should be reinstated, the suspension of any certificate,
348	348	license, practice privilege or permit.
349	349	C. Before reinstating or terminating the suspensio n of a
350	350	certificate, license, practice pr ivilege or permit, or as a
351	351	condition to such reinstatement or termination, the Board may
352	352	require the applicant to show successful completion of specified
353	353	continuing professional education courses.
354	354	D. Before reinstating or terminating the suspension of a
355	355	certificate, license, practice privilege or permit, or as a
356	356	condition to such reinstatement or termination, the Board may make
357	357	the reinstatement of a certificate, license, or permit conditional
358	358	and subject to satisfac tory completion of a peer review conduct ed in
359	359	such fashion as the Board may specify.
360	360	E. Before reinstating or terminating the suspension of a
361	361	certificate or license or as a condition to such reinstatement or
362	362	termination, the Board may require the applican t to submit to a
363	363	national criminal histo ry records search. The costs associated with
364	364	the national criminal history records search shall be paid by the
365	365	applicant.
366	366	F. The provisions of this section shall not be construed to
367	367	preclude the Board from entering into any agreement to resolve a
368	368	complaint prior to a formal hearing or before the Board enters a
369	369	final order.
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396	396	G. All monies, excluding costs, collected from civil penalties
397	397	administrative fines authorized in this section, such penalties
398	398	fines being enforceable in the district courts of this state, s hall
399	399	be deposited with the State Treasurer to be paid into the General
400	400	Revenue Fund of the state into the Oklahoma Accountancy Board
401	401	Revolving Fund created in Section 1 of this act.
402	402	SECTION 5. NEW LAW A new section of law to be cod ified
403	403	in the Oklahoma Statut es as Section 15.17B of Title 59, unless there
404	404	is created a duplication in numbering, reads as follows:
405	405	A. The Oklahoma Accountancy Board shall have the power and
406	406	authority to establish a student scholarship and grant program to
407	407	financially assist eligible students who are qualified under Section
408	408	15.8 of Title 59 of the Oklahoma Statutes to take the certified
409	409	public accountant examination. To be eligible for consideration and
410	410	application for any scholarship, grant, or award authorized in this
411	411	section, the student must be currently enrolled in and attending, as
412	412	a full-time student with passing grades, an Oklahoma public
413	413	institution of higher education and such student applying for a
414	414	scholarship, grant, or award must have completed at least one
415	415	hundred thirty (130) semester hours, or the equivalent thereof as
416	416	determined by the Board, of college or university course curriculum
417	417	in an accounting concentration applicable for a baccalaureate or
418	418	higher degree in accounting or public finance.
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445	445	B. The Board shall promulgate rules, forms, fees, and
446	446	procedures to implement the provisions of subsection A of this
447	447	section. The Board shall set and determine the amount of each
448	448	scholarship, grant, or award; set a reasonable application fee;
449	449	create application forms and processes; establish additional
450	450	eligibility qualifications or criteria for determining a student's
451	451	eligibility for a scholarship, grant, or award and determining the
452	452	amount and term of each scholarship, grant, or award; and establish
453	453	whether any grant shall be repaid or reimburse d to the Board, in
454	454	whole or part, by the recipient.
455	455	C. All funding for the student scholarship and grant program
456	456	shall be derived from and limited to administrative fines imposed
457	457	and collected by the Board for violations of the Oklahoma
458	458	Accountancy Act and deposited into the Oklahoma Accountancy Board
459	459	Revolving Fund created in Section 1 of this act. All funds made
460	460	available for and credited to the student scholarship and grant
461	461	program shall be determined by the Board annually and transferred
462	462	from the Oklahoma Accountancy Board Revolving Fund to a student
463	463	scholarship account established by the State Treasurer. The student
464	464	scholarship account shall be administered by the Board for the
465	465	purposes of providing scholarships, grants, and awards pursuant to
466	466	the provisions of this section and the rules relating thereto.
467	467	Expenditures from the student scholarship account shall be made upon
468	468	warrants issued by the State Treasurer against claims filed as
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495	495	prescribed by law with t he Director of the Office of Management and
496	496	Enterprise Services for approval and payment. All funding for the
497	497	student scholarship and grant program shall be subject to funds
498	498	available in the Oklahoma Accountancy Board Revolving Fund that are
499	499	derived from administrative fines, as determined by the Board. No
500	500	funds shall be transferred to or expended from the student
501	501	scholarship account without Board approval.
502	502	D. Any grant funds received as a repayment or reimbursement, in
503	503	whole or part, by the Board from a student who was originally
504	504	awarded such funds as authorized in this section and the rules
505	505	related thereto, shall be deposited and credited to the student
506	506	scholarship account and may be subsequently distributed and
507	507	disbursed to another student at the Board's discretion. All funds
508	508	received as a grant repayment or reimbursement and all funds
509	509	transferred and deposited into the student scholarship account under
510	510	the provisions of this section shall be exempt from the requirement
511	511	provided in Section 211 o f Title 62 of the Oklahoma Statutes
512	512	requiring ten percent (10%) to be paid into the General Revenue Fund
513	513	of the state.
514	514	E. Annually at the end of each fiscal year, the Board shall
515	515	provide a written report to the Governor, President Pro Tempore of
516	516	the Senate, and Speaker of the House of Representatives on the
517	517	scholarship and grant program. The report shall include, for the
518	518	fiscal year being reported, the amount of funds transferred into the
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545	545	account; the starting and ending balances of the account ; the
546	546	scholarship, grant, and award amounts given to students; total
547	547	number of students served; repayments or reimbursements received;
548	548	and other information deemed pertinent by the Board for the report.
549	549	SECTION 6. This act shall become effective November 1, 202 3.
550	550
551	551	59-1-6263 LRB 12/09/22

Oklahoma 2023 Regular Session

Oklahoma House Bill HB2796 Compare Versions