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Bill > HB2749
OK HB2749
OK HB2749Schools; endowed accounts; limiting the amount of total state matching dollars; 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 schools; amending 70 O.S. 2011, Section 3952, which relates to endowed accounts; limiting the amount of total state matching dollars; and providing an effective date. SUBJECT: Endowed accounts
AI Summary
This bill amends the existing law related to the Oklahoma State Regents' Endowment Trust Fund, which provides state matching funds for endowed chairs, professorships, lectureships, and artist-in-residence positions at public institutions of higher education in Oklahoma. The key provisions of the bill include: 1) limiting the total amount of state matching funds that can be used to $671.2 million, 2) maintaining the 1:1 matching ratio for endowment accounts of $250,000 or less, and the 1:4 ratio for accounts over $250,000, and 3) specifying that the bill will take effect on November 1, 2020.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Filed with Secretary of State (on 05/22/2020)
Official Document
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