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Bill > HB3126
OK HB3126
OK HB3126Commissioners of the Land Office; Oklahoma State Regents for Higher Education; Concurrent Enrollment Revolving Fund; State Aid Formula; effective date; emergency.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to the Commissioners of the Land Office; requiring annual transfer of permanent school funds to fund concurrent enrollment; limiting expenditure to the Oklahoma State Regents for Higher Education; prohibiting use of funds for any other purpose; directing State Regents to determine amount of funds; amending 64 O.S. 2021, Section 1069, which relates to proceeds from bonuses, royalties, and other inducements; creating the Concurrent Enrollment Revolving Fund; providing for deposit of bonuses and delay rental income; making the fund a continuing fund; making deposit of income contingent upon certain determination by the Commissioners; providing for investment of monies in the fund; requiring interest to be credited to the fund; amending 70 O.S. 2021, Section 18-200.1, which relates to the State Aid Formula; providing certain exception in calculating state apportionment portion of Foundation Program Income; providing for codification; providing an effective date; and declaring an emergency.
AI Summary
This bill establishes a new fund called the "Concurrent Enrollment Revolving Fund" to support college or university courses for eligible high school students, requiring the Commissioners of the Land Office to transfer money from permanent school funds to the Oklahoma State Regents for Higher Education for this exclusive purpose, with the State Regents determining the necessary amount based on revenue performance. It also amends existing laws to allow bonus and delay rental income from land office leases to be deposited into this new revolving fund, which can be invested with any interest earned credited back to the fund, and modifies the state aid formula for school districts by excluding funds distributed from this Concurrent Enrollment Revolving Fund from the calculation of "State Apportionment," a component of a school district's funding. The bill is set to become effective on July 1, 2026, and is declared an emergency measure.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
House A&B Natural Resources Subcommittee Hearing (10:30:00 2/9/2026 Room 5s2) (on 02/09/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3126&Session=2600 |
| Fiscal Note/Analysis - House: Introduced | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/BILLSUM/House/HB3126%20INT%20BILLSUM.PDF |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/hB/HB3126%20INT.PDF |
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