SENATE FLOOR VERSION - HB2190 SFLR Page 1
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SENATE FLOOR VERSION
March 26, 2024
ENGROSSED HOUSE
BILL NO. 2190 By: Lowe (Dick) of the House
and
Pemberton of the Senate
An Act relating to schools; permitting board of
education to establish fund to purchase high -
deductible property insuran ce 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 OKLAHOM A:
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 duplication in numbering, reads as follows:
A. Pursuant to the powers and duties granted b y 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 insuranc e policy.
B. Monies for the casualty and flood insurance recovery fund
shall be transferred from the school district general fund, as
SENATE FLOOR VERSION - HB2190 SFLR Page 2
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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 sh all 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 immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
COMMITTEE REPORT BY: COMMITTEE ON EDUCATION
March 26, 2024 - DO PASS