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STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
COMMITTEE SUBSTITUTE
FOR
HOUSE BILL NO. 2894 By: Wallace and Caldwell (Tre y)
of the House
and
Hall and Rosino of the
Senate
COMMITTEE SUBSTITUTE
An Act relating to the Oklahoma Capitol Improvement
Authority; providing for allocation of funds f rom the
Legacy Capital Financing Fund; authorizing
utilization of certain amount for t he purpose of
benefitting the Oklahoma State University Medical
Authority; requiring certain recapitalization
payments; authorizing certain distrib utions;
authorizing and limiting utilization of me moranda of
understanding; providing for codification ; providing
an effective date; 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 187A-10 of Title 73, unless
there is created a duplication in numbering, reads a s follows:
A. In addition to any other authorization provided by law, the
Oklahoma Capitol Improvement Authority is authorized to utilize
available funds from the Legacy Capital Financing Fund created by
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Section 187B of Title 73 of the Oklahoma Statutes , in the amount of
Thirty Million Dollars ($30,000,000.00) for the benefit of Oklahoma
State University Medical Authority to construct, refurbish , or
expand Oklahoma State University Medical Authority facilities.
B. LCF Recapitalization Payments shall be made related to the
distribution of proceeds provided in subsection A of this act, in
accordance with the provisions of the Legacy Capital Financing Act.
C. The Authority may distribute funds authorized pursuant to
subsection A in one or more tranches.
D. The Authority may ent er memoranda of understanding with
agencies, departments, and subdivisions of the state as needed, to
facilitate the provisions of this act, provided that such memoranda
of understanding do not constitute a legal obligation of the State
of Oklahoma or impede the administration of the provisions of the
Legacy Capital Financing Act.
SECTION 2. This act shall become effective July 1, 2024.
SECTION 3. It being immediately necessary for the preservation
of the public peace, heal th 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.
59-2-11193 JM 05/27/24