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STATE OF OKLAHOMA
1st Session of the 60th Legislature (2025)
SENATE BILL 177 By: Goodwin
AS INTRODUCED
An Act relating to the Oklahoma State Regents for
Higher Education; creating the Morrill Act of 1890
Revolving Fund; making an appropriati on; providing
for expenditures; providing purpose of fund;
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 n ew section of law to be codified
in the Oklahoma Statutes as Section 3915 of T itle 70, unless there
is created a duplication in numbering, reads as follows:
There is hereby created for the Oklahoma State Regents for
Higher Education a revolving fund to be designated the “Morrill Act
of 1890 Revolving Fund ”. The fund shall be a continuing fund, not
subject to fiscal year limitations, and shall consist of all monies
received by the State Regents from legislative appropriations
provided for the purpose of pro viding distribution of funds to
Oklahoma’s land-grant institutions created pur suant to the Morrill
Act of 1890. All monies accruing to the credit of the fund are
hereby appropriated and shall be budgeted and expended by the
Oklahoma State Regents for High er Education for the purpose provided
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for in this section. Expenditures from the 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.
SECTION 2. There is hereby appropr iated to the Morrill Act of
1890 Revolving Fund from any monies not otherwise appropriated from
the General Revenue Fund of the State Treasury for the fiscal year
ending June 30, 2026, the sum of Four Hundred Eighteen Million Nine
Hundred Eighty-six Thousand Two Hundred Seventy -two Dollars
($418,986,272.00), for the purpose of providing an equitable
distribution of funds to Oklahoma ’s 1890 land-grant institutions,
created pursuant to the Morrill Act of 1890.
SECTION 3. This act shall become effective July 1, 202 5.
SECTION 4. 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 approval.
60-1-1420 LG 12/30/2024 1:10:35 PM