Bill > SB1020

This bill updates Oklahoma state law to provide the Office of the State Treasurer with more flexibility in purchasing and managing its own property. Specifically, the bill exempts the Office of the State Treasurer from the standard state agency property purchasing and leasing requirements typically overseen by the Office of Management and Enterprise Services (OMES). The bill adds language to two existing statutes: one governing state agency property transactions (Title 61, Section 327) and another defining OMES's responsibilities (Title 74, Section 63). By creating a new section of law, the bill explicitly authorizes the State Treasurer to purchase, acquire, lease, and manage properties without needing prior approval from OMES. This means the State Treasurer will have more direct control over acquiring a state depository facility and managing its real estate needs. The bill is set to become effective on July 1, 2025, and includes an emergency clause, which allows for immediate implementation upon passage and approval. The change appears aimed at streamlining property management processes specifically for the State Treasurer's office by removing bureaucratic hurdles associated with property transactions.

Budget and Finance, Labor and Employment

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1020&Session=2600