Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB1294 Compare Versions

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Version 2 (New)

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4		-	An Act
5		-	ENROLLED SENATE
	29	+	HOUSE OF REPRESENTATIVES - FLOOR VERSION
	30	+
	31	+	STATE OF OKLAHOMA
	32	+
	33	+	2nd Session of the 59th Legislature (2024)
	34	+
	35	+	ENGROSSED SENATE
6	36		BILL NO. 1294 By: Rosino of the Senate
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8	38		and
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10	40		Miller of the House
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15	45		An Act relating to the Oklahoma Department of
16	46		Aerospace and Aeronautics; authorizing establishment
17	47		of the Oklahoma Aerospace Foundation; allowing
18	48		Foundation to receive contributions; directing
19	49		Foundation to be incorporated as a 501(c); placing
20	50		limits on voting membership; requiring financials of
21	51		Foundation to be available for audit; providing for
22	52		codification; and providing an effective date .
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27		-	SUBJECT: Aerospace development
28		-
29	57		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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31	58		SECTION 1. NEW LAW A new section of law to be codified
32	59		in the Oklahoma Statutes as Section 85. 4 of Title 3, unless there is
33	60		created a duplication in numbering, reads as follows:
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35	61		A. There is hereby a uthorized the establishment of a not-for-
36	62		profit foundation, to be known as the Oklahoma Aerospace Foundation,
37	63		for the purpose of encouraging contributi ons for the educational and
38	64		industry outreach and development initiatives of the Oklahoma
39	65		Department of Aerospace and Aeronautics. Such support from a not -
40	66		for-profit shall be supplementary to any state funding received by
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	68	+	SB1294 HFLR Page 2
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41	94		the Department and shall be a means to further assist in the
42	95		development of the aviation and aerospace industry in the state.
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44	96		B. The Oklahoma Aerospace Foundation, created pursuant to this
45	97		section, may receive contributions from any public or private source
46	98		to carry out the purposes of t his act including, but not limited to,
47		-
48		-	ENR. S. B. NO. 1294 Page 2
49	99		gifts or grants from private individuals , companies, foundations,
50	100		corporations, and others in the private and public sectors.
51		-
52	101		C. Upon incorporation, the Oklahoma Aerospace Foundation shall
53	102		secure tax-exempt status under the appropriate provision of Section
54	103		501(c) of the Internal Revenue Code, 26 U.S.C., Section 501(c).
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56	104		D. No employee of the Oklahoma Department of Aerospace and
57	105		Aeronautics shall be a voting member of the board of the Oklahoma
58	106		Aerospace Foundation . Any member of the Foundation who may have a
59	107		financial interest in an action under consideration by the
60	108		Foundation shall abstain from voting on such matter.
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62	109		E. The Oklahoma Aerospace Foundation shall make all its
63	110		financial records and documents including wor k papers, except for
64	111		the names of donors and other privileged materials, available to
65	112		auditors who are performing audits of the Oklahoma Department of
66	113		Aerospace and Aeronautics.
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68	114		SECTION 2. This act shall become effective November 1, 2024.
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	116	+	COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS AND BUDGET, dated
	117	+	04/18/2024 - DO PASS.
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71		-	ENR. S. B. NO. 1294 Page 3
72		-	Passed the Senate the 1 4th day of March, 2024.
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76		-	Presiding Officer of the Senate
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79		-	Passed the House of Representatives the 25th day of April, 2024.
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81		-
82		-
83		-	Presiding Officer of the House
84		-	of Representatives
85		-
86		-	OFFICE OF THE GOVERNOR
87		-	Received by the Office of the Governor this _______ _____________
88		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
89		-	By: _________________________________
90		-	Approved by the Governor of the State of Oklahoma this _______ __
91		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
92		-
93		-	_________________________________
94		-	Governor of the State of Oklahoma
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96		-
97		-	OFFICE OF THE SECRETARY OF STATE
98		-	Received by the Office of the Secretary of State this _______ ___
99		-	day of _________________ _, 20 _______, at _______ o'clock _______ M.
100		-	By: _________________________________