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Bill > HB3331
OK HB3331
OK HB3331School bonds; one-year waiting period; nondebt capital options; exemption for destroyed school facilities; effective date.
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 school bonds; creating one-year waiting period for new school bonds; clarifying one- year waiting period does not apply to nondebt capital options; exempting destroyed school facilities; providing for codification; and providing an effective date.
AI Summary
This bill establishes a one-year waiting period before a school district can call an election to issue new bonds, meaning new bonds cannot be issued within 365 days after all existing bonded debt has been fully paid off and certified as retired by the district treasurer, with any bonds issued before this act's effective date counting towards this existing debt. However, this waiting period does not prevent school districts from using alternative funding methods for capital projects, such as private donations, lease-purchase agreements that don't involve issuing new debt, or public-private construction partnerships, nor does it apply if school facilities have been destroyed by natural disasters. This new law will take effect on November 1, 2026.
Sponsors (1)
Last Action
Second Reading referred to Rules (on 02/03/2026)
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=hb3331&Session=2600 |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/hB/HB3331%20INT.PDF |
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