Bill
Bill > SB1
OK SB1
Public finance; creating the Legislative Office of Fiscal Transparency; specifying purpose and duties. Emergency.
summary
Introduced
02/04/2019
02/04/2019
In Committee
03/19/2019
03/19/2019
Crossed Over
03/12/2019
03/12/2019
Passed
05/23/2019
05/23/2019
Dead
Signed/Enacted/Adopted
05/24/2019
05/24/2019
Introduced Session
2020 Regular Session
Bill Summary
An Act relating to public finance; creating the Legislative Office of Fiscal Transparency (LOFT); specifying purpose and duties; providing for payment of expenses of Office; creating oversight committee; providing for membership, co-chairs, quorum and meetings thereof; specifying certain powers and duties of oversight committee; providing procedures for conduct of performance evaluations and independent comprehensive performance audits; defining term; specifying duty of state agencies and institutions; providing for confidentiality of certain records; requiring certain reports and recommendations; repealing Section 1, Chapter 325, O.S.L. 2017, Sections 2, 3, 4 and 5, Chapter 325, O.S.L. 2017, as amended by Sections 1, 2, 3 and 4, Chapter 298, O.S.L. 2018 (62 O.S. Supp. 2018, Sections 8001, 8002, 8003, 8004 and 8005), which relate to the Agency Performance and Accountability Commission; providing for codification; and declaring an emergency. SUBJECT: Creating Legislative Office of Fiscal Transparency
AI Summary
This bill creates the Legislative Office of Fiscal Transparency (LOFT) within the Oklahoma Legislature. LOFT's purpose is to assist the Legislature in ensuring government funds are spent responsibly. LOFT will gather and analyze information on state agency budgets, conduct performance evaluations and independent comprehensive performance audits, and report its findings to an oversight committee. The oversight committee, composed of bipartisan members from the Senate and House, will oversee LOFT's operations and make recommendations to state agencies or the Legislature based on LOFT's reports. The bill also repeals the existing Agency Performance and Accountability Commission.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Approved by Governor 05/24/2019 (on 05/24/2019)
Official Document
bill text
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1&Session=2000 |
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