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STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
COMMITTEE SUBSTITUTE
FOR
HOUSE BILL NO. 2190 By: Lowe (Dick)
COMMITTEE SUBSTITUTE
An Act relating to schools; permitting board of
education to establish fund to purchase high-
deductible property insurance policy; requiring
transfer of monies from school district general fund;
prescribing maximum amount of transfer; providing for
codification; providing an effective date ; and
declaring an emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLA HOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 5-117.7 of Title 70, unless
there is created a duplicatio n in numbering, reads as follows:
A. Pursuant to the powers and duties granted by paragraph 8 of
subsection A of Section 5-117 of Title 70 of the Oklahoma Statutes,
the board of education of each school district may establish a
casualty and flood insurance recovery fund for the purpose of
purchasing a high-deductible property insurance policy .
B. Monies for the casualty and flood insurance recovery fund
shall be transferred from the school district general fund, as
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defined in Section 1 -117 of Title 70 of the Oklahoma Statutes. The
amount of monies transferred from the general fund shall not exceed
the amount of the high-deductible property insurance policy
deductible.
SECTION 2. This act shall become effective July 1, 2024.
SECTION 3. It being immediatel y necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof thi s act shall take effect and
be in full force from and after its passage and approval.
59-2-10208 EK 02/15/24