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STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
SENATE BILL 1480 By: Thompson (Roger)
AS INTRODUCED
An Act relating to the Legacy Capital Financing Fund;
authorizing utilization of portion of certain amount
for certain purpose benefiting the Department of
Public Safety; requiring certain recapitalization
payments; authorizing certain distributions;
authorizing and limiting utilization of memoranda 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-7 of Title 73, unless there
is created a duplication in numbering, reads as 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 F inancing Fund created by
Section 187B of Title 73 of the Oklahoma Statutes, in the amount of:
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1. Eighty Million Dollars ($8 0,000,000.00) for the benefit of
the Department of Public Safety for the completion of the
centralized training center and related facilities ; and
2. Four Million Dollars ($4,0 00,000.00) for the benefit of the
Department of Public Safety for facility upgrades, repair,
expansion, and replacement of Oklahoma Highway Patrol facilities.
B. The Department of Public Safety shall be exempt from the
provisions of Section 60 of Title 61 of the Oklahoma Statutes for
the specific projects defined in subsection A of this section.
C. LCF Recapitalization Payments shall be made related to the
distribution of proceeds provided in subsection A of this section,
in accordance with the provisions of the Legacy Capital Financing
Act.
D. The Authority may distribute funds authorized pursuant to
subsection A of this section in one or more tranches.
E. The Authority may enter memoranda of understanding with
agencies, departments, and subdivisions of the state as needed, to
facilitate the provisions of this section; provided, that such
memoranda of understanding do not constitute a legal obligation of
this state 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, health or safety, an emergency is hereby
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declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
59-2-2744 AS 12/15/2023 6:29:00 PM