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AERONAUTIC INFRASTRUCTURE

OKLAHOMA 2024 SESSION LAW SERVICE Fifty-Ninth Legislature, 2024 Second Regular Session

2024 Okla. Sess. Law Serv. Ch. 125 (S.B. 1393) (WEST)
OKLAHOMA 2024 SESSION LAW SERVICE
Fifty-Ninth Legislature, 2024 Second Regular Session
Additions are indicated by Text; deletions by
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CHAPTER 125
S.B. No. 1393
AERONAUTIC INFRASTRUCTURE
An Act relating to the Oklahoma Department of Aerospace and Aeronautics; creating the Long–Term Aerospace and Aeronautics Infrastructure Sustainability Revolving Fund; placing the fund within the Oklahoma Department of Aerospace and Aeronautics; authorizing budgeting and expenditure of funds for certain purposes; requiring the monthly report of balance and encumbrances of fund; providing for codification; and declaring an emergency.
SUBJECT: Aeronautic infrastructure
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 415 of Title 3, unless there is created a duplication in numbering, reads as follows:
<< OK ST T. 3 § 415 >>
There is hereby created in the State Treasury a revolving fund for the Oklahoma Department of Aerospace and Aeronautics to be designated the “Long-Term Aerospace and Aeronautics Infrastructure Sustainability Revolving Fund”. The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received by the Department from appropriations designated for the purpose of construction, maintenance, or other capital projects. The Director of the Oklahoma Department of Aerospace and Aeronautics shall, at the end of each month, provide a current balance and statement of encumbrances of the fund to the Chair of the Senate Appropriations Committee and the Chair of the House of Representatives Appropriations and Budget Committee. All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the Oklahoma Department of Aerospace and Aeronautics for the sole purpose provided for in this section. Expenditures from the fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment.
SECTION 2. 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 April 23, 2024.
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