SENATE FLOOR VERSION - HB2981 SFLR Page 1
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SENATE FLOOR VERSION
March 25, 2024
ENGROSSED HOUSE
BILL NO. 2981 By: Kane of the House
and
Stewart of the Senate
An Act relating to public finance; amending 62 O.S.
2021, Section 89.5, which relates to the State
Treasurer's Revolving Fund; au thorizing investment of
monies; providing investment standard; providing for
deposit of interest; providing an effective date; and
declaring an emergency .
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 62 O.S. 2021, Section 89.5, is
amended to read as follows:
Section 89.5 A. There is hereby created in the State Treasury
a revolving fund for the Office of the State Treasurer to be
designated the "State Treasurer's Revolving Fund". The fund shall
be a continuing fund not subject to fiscal year limitations, and
shall consist of all monies received by the Office of the State
Treasurer from fees and r eceipts collected pursuant to the Oklahoma
Open Records Act, Section 24A.1 et seq. of Title 51 of the Oklahoma
Statutes; monies received, including, but not limited to, reasonable
and customary service -related charges, any monies received from the
SENATE FLOOR VERSION - HB2981 SFLR Page 2
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sale of surplus property, and any grants -in-aid received from the
federal government for the operations of the Office of the State
Treasurer unless otherwise provided by federal law or regulation.
All monies accruing to the credit of said fund are hereby
appropriated and may be budgeted and expended by the Office of the
State Treasurer for the operating expenses of the said office.
Expenditures from said fund shall be made upon warrants issued by
the State Treasurer against claims filed as prescribed by law with
the Director of the Office of Management and Enterprise Services for
approval and payment. Monies in the fund may be invested by the
State Treasurer in the manner prescribed in Section 89.1a et seq. of
this title. Interest income derived from the investm ent of monies
in the fund shall be credited to and placed in the fund.
B. The State Treasurer shall a ppoint and fix the duties and
compensation of employees, not otherwise prescribed by law,
necessary to perform the duties imposed upon the Office of the State
Treasurer by law.
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 app roval.
COMMITTEE REPORT BY: COMMITTEE ON FINANCE
March 25, 2024 - DO PASS