Bill > SB517

This bill authorizes the Oklahoma Veterans Commission to establish the ODVA Foundation, a private, charitable, not-for-profit organization designed to support veterans, reservists, and their dependents through additional funding sources. The Foundation can receive contributions from public and private entities, including individuals, companies, and corporations, with the primary goal of supplementing state funding for educational, training, and empowerment initiatives of the Oklahoma Department of Veterans Affairs. The bill specifies that the commissioners of the Oklahoma Veterans Commission will determine the initial Foundation members, and the Department of Veterans Affairs will create its board, with a key restriction that no department employees can be voting board members. Additionally, board members with potential financial conflicts of interest must abstain from voting on related matters. The Foundation must seek tax-exempt status under Section 501(c) of the Internal Revenue Code and will be required to make its financial records and documents available for auditing, with the exception of donor names and other confidential materials. The bill includes an emergency clause, meaning it will take effect immediately upon passage and approval.

Military Affairs and Security

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb517&Session=2600