Bill > SB177

This bill creates a new "Morrill Act of 1890 Revolving Fund" for the Oklahoma State Regents for Higher Education, which is a special financial account designed to receive and distribute funds to Oklahoma's land-grant institutions established under the historic Morrill Act of 1890. The fund will be a continuing fund not limited by fiscal year constraints and will consist of legislative appropriations specifically meant to support these institutions. For the fiscal year ending June 30, 2026, the bill appropriates $418,986,272 from the General Revenue Fund to this new revolving fund, with the goal of providing an equitable distribution of funds to these land-grant institutions. The expenditures from the fund will be managed by the Oklahoma State Regents for Higher Education and will require warrants issued by the State Treasurer against claims approved by the Director of the Office of Management and Enterprise Services. The bill is set to become effective on July 1, 2025, and contains an emergency clause indicating its immediate importance for public welfare.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb177&Session=2600