Bill > SB530

This bill authorizes the Oklahoma Veterans Commission to establish the State of Oklahoma Veterans Foundation, a private, not-for-profit charitable organization designed to support veterans in the state. The Foundation will be able to solicit, accept, and manage contributions from both public and private sources, including individuals, companies, and corporations, to supplement state funding for veterans' services. The Foundation must seek tax-exempt status under the Internal Revenue Code and will be governed by a board of directors appointed by the Oklahoma Veterans Commission, with specific restrictions to ensure ethical governance. Specifically, no Department employees can be voting board members, and board members with financial interests in a matter must recuse themselves from voting. The bill explicitly prohibits the Department from providing preferential treatment to potential State Veterans Home residents based on contributions to the Foundation. Additionally, the Foundation will be required to make its financial records available for audit, 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.

Health and Social Services, Military Affairs and Security

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb530&Session=2600