SECTION 1. There is hereby appropriated to the Oklahoma State Regents for Higher Education from any monies not otherwise appropriated from the Oklahoma Capital Assets Maintenance and Protection Fund of the State Treasury, the sum of Fifty-six Million Two Hundred Fifty Thousand Dollars ($56,250,000.00) or so much thereof as may be necessary to perform the duties imposed upon the Regents by law.

SECTION 2. Of the funds appropriated pursuant to Section 1 of this act, Thirty-nine Million Three Hundred Seventy-five Thousand Dollars ($39,375,000.00) shall be expended for all four-year colleges and universities except the University of Oklahoma located in Norman, Oklahoma, and Oklahoma State University located in Stillwater, Oklahoma, and Sixteen Million Eight Hundred Seventy-five Thousand Dollars ($16,875,000.00) shall be expended for two-year institutions of higher education within The Oklahoma State System of Higher Education pursuant to a plan submitted by the Oklahoma State Regents for Higher Education not later than May 31, 2024, to the Chair of the Appropriations Committee of the Oklahoma State Senate and the Chair of the Appropriations and Budget Committee of the Oklahoma House of Representatives.