Bill > SB283

This bill modifies the Oklahoma State System of Higher Education's master lease program by expanding the annual transaction limit to include projects that have been refunded from previous bond issuances. The bill amends two sections of Oklahoma statutes, updating references and language related to how the Oklahoma State Regents for Higher Education can finance and refinance real property acquisitions and improvements. Specifically, the legislation allows the State Regents to include refunded projects in their annual transaction calculation for the master lease program, which provides a mechanism for educational institutions to lease or finance property improvements with legislative oversight. The bill maintains the existing requirement that proposed lease transactions must be submitted to the Legislature for potential disapproval within 45 days, and keeps the overall limit on lease terms at 30 years. The changes are designed to provide more flexibility in how higher education institutions can manage and finance their real property investments, with the amendment taking effect on November 1, 2025.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb283&Session=2500