OKLAHOMA CAPITOL IMPROVEMENT AUTHORITY
OKLAHOMA 2024 SESSION LAW SERVICE Fifty-Ninth Legislature, 2024 Second Regular Session
2024 Okla. Sess. Law Serv. Ch. 390 (H.B. 2894) (WEST)
OKLAHOMA 2024 SESSION LAW SERVICE
Fifty-Ninth Legislature, 2024 Second Regular Session
CHAPTER 390
H.B. No. 2894
OKLAHOMA CAPITOL IMPROVEMENT AUTHORITY
An Act relating to the Oklahoma Capitol Improvement Authority; providing for allocation of funds from the Legacy Capital Financing Fund; authorizing utilization of certain amount for the purpose of benefitting the Oklahoma State University Medical Authority; requiring certain recapitalization payments; authorizing certain distributions; authorizing and limiting utilization of memoranda of understanding; providing for codification; providing an effective date; and declaring an emergency.
SUBJECT: Oklahoma Capitol Improvement Authority
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified in the Oklahoma Statutes as Section 187A–10 of Title 73, unless there is created a duplication in numbering, reads as follows:
<< OK ST T. 73 § 187A–10 >>
A. In addition to any other authorization provided by law, the Oklahoma Capitol Improvement Authority is authorized to utilize available funds from the Legacy Capital Financing Fund created by Section 187B of Title 73 of the Oklahoma Statutes, in the amount of Thirty Million Dollars ($30,000,000.00) for the benefit of Oklahoma State University Medical Authority to construct, refurbish, or expand Oklahoma State University Medical Authority facilities.
B. LCF Recapitalization Payments shall be made related to the distribution of proceeds provided in subsection A of this section, in accordance with the provisions of the Legacy Capital Financing Act.
C. The Authority may distribute funds authorized pursuant to subsection A of this section in one or more tranches.
D. The Authority may enter memoranda of understanding with agencies, departments, and subdivisions of the state as needed, to facilitate the provisions of this act, provided that such memoranda of understanding do not constitute a legal obligation of the State of Oklahoma or impede the administration of the provisions of the Legacy Capital Financing Act.
SECTION 2. This act shall become effective July 1, 2024.
SECTION 3. It being immediately necessary for the preservation of the public peace, health or safety, an emergency is hereby declared to exist, by reason whereof this act shall take effect and be in full force from and after its passage and approval.
Approved June 14, 2024.
| End of Document |