Oklahoma HB4054: Capitol Improvement Authority; allocation of funds from the Legacy Capital Financing Fund; utilization; Oklahoma State University; recapitalization payments; distributions; limiting conditions; codification.

What the bill says

An Act relating to Oklahoma Capitol Improvement Authority; providing for allocation of funds from the Legacy Capital Financing Fund; authorizing utilization of certain amount for the purpose of benefiting Oklahoma State University; requiring certain recapitalization payments over certain period; authorizing certain distributions; placing limiting conditions on such authorization; authorizing and limiting utilization of memoranda of understanding; and providing for codification. SUBJECT: Oklahoma Capitol Improvement Authority.

From the enrolled text, April 16, 2026:

An Act relating to Oklahoma Capitol Improvement Authority; providing for allocation of funds from the Legacy Capital Financing Fund; authorizing utilization of certain amount for the purpose of benefiting Oklahoma State University; requiring certain recapitalization payments over certain period; authorizing certain distributions; placing limiting conditions on such authorization; authorizing and limiting utilization of memoranda of understanding; and providing for codification. SUBJECT: Oklahoma Capitol Improvement Authority SECTION 1. NEW LAW A new section of law to be codified in the Oklahoma Statutes as Section 187A-15 of Title 73, unless there is created a duplication in numbering, reads as follows: A. Subject to the limitation provided in subsection E of this section, and 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 Forty Million Dollars ($40,000,000.00) for the benefit of Oklahoma State University to construct, refurbish, or expand facilities related to the study and practice of agronomy. 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, provided that notwithstanding the provisions of subparagraph b of paragraph 2 of …

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