Oklahoma 2024 Regular Session

Oklahoma Senate Bill SB1480 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SENATE FLOOR VERSION - SB1480 SFLR Page 1
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29		-	SENATE FLOOR VERSION
30		-	February 14, 2024
31		-	AS AMENDED
	53	+	STATE OF OKLAHOMA
32	54
33		-	SENATE BILL NO. 1480 By: Thompson (Roger) of the
34		-	Senate
	55	+	2nd Session of the 59th Legislature (2024)
35	56
36		-	and
37		-
38		-	Wallace of the House
	57	+	SENATE BILL 1480 By: Thompson (Roger)
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	65	+	AS INTRODUCED
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47		-	[ Legacy Capital Financing Fund - payments -
48		-	distributions - memoranda - codification - effective
49		-	date
50		-	emergency ]
	67	+	An Act relating to the Legacy Capital Financing Fund;
	68	+	authorizing utilization of portion of certain amount
	69	+	for certain purpose benefiting the Department of
	70	+	Public Safety; requiring certain recapitalization
	71	+	payments; authorizing certain distributions;
	72	+	authorizing and limiting utilization of memoranda of
	73	+	understanding; providing for codification; providing
	74	+	an effective date; and declaring an emergency .
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57	81		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
58	82		SECTION 1. NEW LAW A new section of law to be codified
59	83		in the Oklahoma Statutes as Section 187A-7 of Title 73, unless there
60	84		is created a duplication in numbering, reads as follows:
61	85		A. In addition to any other authorization provided by law, the
62	86		Oklahoma Capitol Improvement Authority is authorized to utilize
63	87		available funds from the Legacy Capital F inancing Fund created by
64	88		Section 187B of Title 73 of the Oklahoma Statutes, in the amount of:
65	89
66		-	SENATE FLOOR VERSION - SB1480 SFLR Page 2
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92	140		1. Eighty Million Dollars ($8 0,000,000.00) for the benefit of
93	141		the Department of Public Safety for the completion of the
94	142		centralized training center and related facilities ; and
95	143		2. Four Million Dollars ($4,0 00,000.00) for the benefit of the
96	144		Department of Public Safety for facility upgrades, repair,
97	145		expansion, and replacement of Oklahoma Highway Patrol facilities.
98	146		B. The Department of Public Safety shall be exempt from the
99	147		provisions of Section 60 of Title 61 of the Oklahoma Statutes for
100	148		the specific projects defined in subsection A of this section.
101	149		C. LCF Recapitalization Payments shall be made related to the
102	150		distribution of proceeds provided in subsection A of this section,
103	151		in accordance with the provisions of the Legacy Capital Financing
104	152		Act.
105	153		D. The Authority may distribute funds authorized pursuant to
106	154		subsection A of this section in one or more tranches.
107	155		E. The Authority may enter memoranda of understanding with
108	156		agencies, departments, and subdivisions of the state as needed, to
109	157		facilitate the provisions of this section; provided, that such
110	158		memoranda of understanding do not constitute a legal obligation of
111	159		this state or impede the administration of the provisions of the
112	160		Legacy Capital Financing Act.
113	161		SECTION 2. This act shall become effective July 1, 2024.
114	162		SECTION 3. It being immediately necessary for the preservation
115	163		of the public peace, health or safety, an emergency is hereby
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117		-	SENATE FLOOR VERSION - SB1480 SFLR Page 3
118		-	(Bold face denotes Committee Amendments) 1
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143	215		declared to exist, by reason whereof this act shall take effect and
144	216		be in full force from and after its passage and approval.
145		-	~~COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS~~
146		-	~~February 14, 2024 - DO PASS~~ AS ~~AMENDED~~
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	218	+	59-2-2744 AS 12/15/2023 6:29:00 PM