Bill > HB1428

This bill establishes the Building Equalization for K-8 Student Transfers Revolving Fund (BEST Fund) in the State Treasury to help school districts that receive students transferring from other districts. The fund will have a maximum of $10 million and is not subject to fiscal year limitations. The State Department of Education will manage the fund, which can be used by receiving districts for a wide range of school-related expenses, including building construction and maintenance, purchasing equipment and computer systems, paying utility costs, buying school buses, purchasing security systems, paying security personnel salaries, and covering insurance premiums. Expenditures from the fund will be made through warrants issued by the State Treasurer after claims are approved by the Office of Management and Enterprise Services. The bill is designed to provide financial support to school districts that accommodate students transferring from other districts, helping them manage the additional infrastructure and operational costs associated with student transfers. The act will become effective on July 1, 2025, and is declared an emergency measure, meaning it can take effect immediately upon passage and approval.

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1428&Session=2600