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Bill > HB2750
OK HB2750
OK HB2750Endowed chair funding; modifying maximum aggregate amount of certain obligations of the Capitol Improvement Authority; effective date.
summary
Introduced
04/02/2019
04/02/2019
In Committee
05/06/2020
05/06/2020
Crossed Over
05/07/2020
05/07/2020
Passed
05/12/2020
05/12/2020
Dead
Veto Overridden
05/22/2020
05/22/2020
Signed/Enacted/Adopted
05/22/2020
05/22/2020
Introduced Session
2020 Regular Session
Bill Summary
An Act relating to endowed chair funding; amending 70 O.S. 2011, Section 4019, which relates to issuance of certain obligations; modifying maximum aggregate amount of certain obligations of the Oklahoma Capitol Improvement Authority; and providing an effective date. SUBJECT: Endowed chair funding
AI Summary
This bill amends a law to increase the maximum aggregate amount of obligations the Oklahoma Capitol Improvement Authority can issue for funding endowed chairs at higher education institutions in the state. Specifically, it raises the cap from $150 million to $314.4 million. The bill also allows the Authority to issue bonds to refinance or restructure the outstanding obligations. The bill is intended to provide continued state funding for endowed chair positions, at least half of which must involve research and development. The bill will take effect on July 1, 2021.
Committee Categories
Budget and Finance
Sponsors (4)
Last Action
Filed with Secretary of State (on 05/22/2020)
Official Document
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