Bill > HB2776

This bill amends the existing authorization for the Oklahoma Capitol Improvement Authority to utilize funds from the Legacy Capital Financing Fund (LCF), making several key changes to previous funding allocations. Specifically, the bill maintains the $70 million authorization for repairing and improving the Jim Thorpe Office Building, eliminates the $19 million authorization for tunnel repairs underneath the State Capitol Office Complex, and increases the authorization for the Kelley Building and Kelley Annex renovation from $26,322,300 to $45,322,300. The bill allows the Authority to distribute these funds in one or more tranches and permits the creation of memoranda of understanding with state agencies to facilitate the project, while ensuring these agreements do not create legal obligations for the state or interfere with the Legacy Capital Financing Act. The changes are intended to provide flexible funding for state property improvements, particularly focusing on renovating the Kelley Building and Kelley Annex for potential use as a day care facility, with the funds coming from the Legacy Capital Financing Fund.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2776&Session=2600