Oklahoma HB3429: Career technology; creating Career Technology Business Partnership Pool; obligations; proceeds; definitions; fund; effective date.

What the bill says

An Act relating to career technology; creating Career Technology Business Partnership Pool; providing for exclusive use of pool amounts; providing for issuance of obligations; authorizing issuance of tax-exempt obligations; requiring financial literacy curriculum; prohibiting certain indebtedness; providing for termination of program; amending 62 O.S. 2021, Sections 891.3 and 891.15, which relate to the Oklahoma Community Economic Development Pooled Finance Act; modifying definitions; modifying references; providing for codification; and providing an effective date.

From the engrossed text, April 22, 2026:

An Act relating to career technology; creating Career Technology Business Partnership Pool; providing for exclusive use of pool amounts; providing for issuance of obligations; authorizing issuance of tax-exempt obligations; requiring financial literacy curriculum; prohibiting certain indebtedness; providing for termination of program; amending 62 O.S. 2021, Sections 891.3 and 891.15, which relate to the Oklahoma Community Economic Development Pooled Finance Act; modifying definitions; modifying references; providing for codification; and providing an effective date. 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 891.8A of Title 62, unless there is created a duplication in numbering, reads as follows: A. The Authority shall be authorized to act as a conduit issuer for the benefit of one or more career technology districts in conjunction with one or more for-profit business entities for an authorized economic development project using the Career Technology Business Partnership Pool. SENATE FLOOR VERSION - HB3429 SFLR Page (Bold face denotes Committee Amendments) B. The Authority shall be authorized to issue its obligations in order to provide net proceeds on a pooled basis not to exceed Fifty Million Dollars ($50,000,000.00) for the Career Technology Business Partnership Pool. The Authority shall be authorized to issue obligations within the limit prescribed by this …