Oklahoma 2025 Regular Session

Oklahoma Senate Bill SB177 Compare Versions

Only one version of the bill is available at this time.

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53	53	STATE OF OKLAHOMA
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55	55	1st Session of the 60th Legislature (2025)
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57	57	SENATE BILL 177 By: Goodwin
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61	61	AS INTRODUCED
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63	63	An Act relating to the Oklahoma State Regents for
64	64	Higher Education; creating the Morrill Act of 1890
65	65	Revolving Fund; making an appropriati on; providing
66	66	for expenditures; providing purpose of fund;
67	67	providing for codification; providing an effective
68	68	date; and declaring an emergency.
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73	73	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
74	74	SECTION 1. NEW LAW A n ew section of law to be codified
75	75	in the Oklahoma Statutes as Section 3915 of T itle 70, unless there
76	76	is created a duplication in numbering, reads as follows:
77	77	There is hereby created for the Oklahoma State Regents for
78	78	Higher Education a revolving fund to be designated the “Morrill Act
79	79	of 1890 Revolving Fund ”. The fund shall be a continuing fund, not
80	80	subject to fiscal year limitations, and shall consist of all monies
81	81	received by the State Regents from legislative appropriations
82	82	provided for the purpose of pro viding distribution of funds to
83	83	Oklahoma’s land-grant institutions created pur suant to the Morrill
84	84	Act of 1890. All monies accruing to the credit of the fund are
85	85	hereby appropriated and shall be budgeted and expended by the
86	86	Oklahoma State Regents for High er Education for the purpose provided
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138	138	for in this section. Expenditures from the fund shall be made upon
139	139	warrants issued by the State Treasurer against claims filed as
140	140	prescribed by law with the Director of the Office of Management and
141	141	Enterprise Services for approval and payment.
142	142	SECTION 2. There is hereby appropr iated to the Morrill Act of
143	143	1890 Revolving Fund from any monies not otherwise appropriated from
144	144	the General Revenue Fund of the State Treasury for the fiscal year
145	145	ending June 30, 2026, the sum of Four Hundred Eighteen Million Nine
146	146	Hundred Eighty-six Thousand Two Hundred Seventy -two Dollars
147	147	($418,986,272.00), for the purpose of providing an equitable
148	148	distribution of funds to Oklahoma ’s 1890 land-grant institutions,
149	149	created pursuant to the Morrill Act of 1890.
150	150	SECTION 3. This act shall become effective July 1, 202 5.
151	151	SECTION 4. It being immediately necessary for the preservation
152	152	of the public peace, health or safety, an emergency is hereby
153	153	declared to exist, by reason whereof this act shall take effect and
154	154	be in full force from and after its passage and approval.
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156	156	60-1-1420 LG 12/30/2024 1:10:35 PM