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Bill > SB2060
OK SB2060
OK SB2060Improvement districts; master development districts; requirements and procedures; bonds. Effective date.
summary
Introduced
02/02/2026
02/02/2026
In Committee
04/08/2026
04/08/2026
Crossed Over
03/26/2026
03/26/2026
Passed
04/20/2026
04/20/2026
Dead
Signed/Enacted/Adopted
04/20/2026
04/20/2026
Introduced Session
2026 Regular Session
Bill Summary
An Act ENROLLED SENATE BILL NO. 2060 By: Haste and Mann of the Senate and Lawson, Caldwell (Trey), and Hefner of the House An Act relating to improvement districts; amending 11 O.S. 2021, Sections 39-101, 39-102, and 39-103, which relate to short title, definitions, and creation of certain districts; modifying short title; modifying definitions; providing for the creation of master development districts upon certain approval; establishing requirements and procedures for approval of applications for the creation of certain districts; allowing protests of approvals within specified time period; authorizing districts to adopt rules and bylaws; requiring inclusion of certain provisions in governing document; granting certain rights and powers to board of supervisors of master development districts; authorizing lien on real property for assessments levied by the master development districts; authorizing districts to make certain improvements; construing provisions; requiring obligations be payable from certain sources; authorizing districts to take certain actions related to works or improvements; granting districts certain contracting authority; requiring certain parties enter into a master development agreement; establishing requirements for master development agreements; directing the State Treasurer to develop certain template; authorizing certain covenants; amending 11 O.S. 2021, Section 39-115, which relates to the issuance of certain bonds; authorizing the issuance of certain bonds by districts; modifying and specifying applicability of certain provisions; updating statutory language; prohibiting certain utility ownership or services from being provided; providing for codification; and providing an effective date. SUBJECT: Improvement districts
AI Summary
This bill, titled the "Building Utilities and Infrastructure for Long-term Development (BUILD) Act," modifies existing laws concerning improvement districts and introduces provisions for "master development districts," which are separate entities within a city, municipality, or county designed to finance public improvements through special assessments on benefited properties. Key changes include redefining terms, establishing a new process for creating master development districts that requires 100% surface owner consent and a comprehensive improvement plan, and granting these districts the power to levy assessments that create a lien on property. The bill also allows districts to issue bonds to finance improvements, clarifies contracting authority, and mandates a "master development agreement" between the district and the approving city or county to protect the district's development rights and financial security, with the State Treasurer providing a template for these agreements. Importantly, master development districts are prohibited from providing electric or natural gas services and their obligations are payable solely from district revenues and assessments, not from the full faith and credit of any municipality or county.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Approved by Governor 04/17/2026 (on 04/20/2026)
Official Document
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