Bill > HB2673

This bill modifies the existing law regarding the Oklahoma Museum of Popular Culture Supplemental Revolving Fund by making a key change to the conditions for fund expenditure. Specifically, the bill allows "enforceable pledges for monetary donations" to be counted towards the $18 million funding threshold required before the State Treasurer can authorize expenditures. Additionally, the bill corrects a date reference, changing the baseline date from May 25, 2023, to May 25, 2021, for determining which funds can be counted towards the $18 million requirement. The fund is intended to support repairs, planning, staging, refurbishments, improvements, and construction of the Oklahoma Museum of Popular Culture. If no determination is made by November 15, 2025, authorizing expenditures from the fund, any remaining unencumbered funds will be transferred to the State Treasury's General Revenue Fund for the fiscal year ending June 30, 2024. This amendment provides more flexibility in fundraising by allowing pledges to count towards the total funding requirement.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2673&Session=2600