Bill > SB1991

This bill makes several changes to how state capital assets are managed and funded, primarily by renaming the "Maintenance of State Buildings Revolving Fund" to the "Oklahoma Capital Assets Maintenance and Protection Fund" (OCAMP Fund) and directing all proceeds from oil and gas leases on state lands, as well as other property sales and revenues, into this new fund. It also shifts the Long-Range Capital Planning Commission's focus from an eight-year capital plan to developing five-year plans for the OCAMP Fund, specifically for higher education, tourism and recreation, and general state facilities, with specific allocations for fiscal year 2029. The bill also streamlines the process for selling state property by allowing the Office of Management and Enterprise Services (OMES) to handle sales electronically and sets a minimum bid of 90% of appraised value, with exceptions for landlocked properties or those with environmental issues. Furthermore, it clarifies the roles of OMES and the Long-Range Capital Planning Commission in approving real property transactions and transfers, and mandates that any remaining funds in the old revolving fund be transferred to the OCAMP Fund upon the bill's effective date of July 1, 2026.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1991&Session=2600