Oklahoma legislation · 2026 Regular Session
Oklahoma SB1989: Oklahoma College Savings Plan; expanding options for making contributions to a 529 Savings Plan. Effective date.
Status: Signed into law, May 13, 2026
What the bill says
An Act relating to the Oklahoma College Savings Plan; amending 70 O.S. 2021, Section 3970.7, which relates to operation through use of accounts; expanding options for making contributions to accounts; updating statutory language; updating statutory reference; and providing an effective date. SUBJECT: Oklahoma College Savings Plan.
From the enrolled text, May 6, 2026:
An Act relating to the Oklahoma College Savings Plan; amending 70 O.S. 2021, Section 3970.7, which relates to operation through use of accounts; expanding options for making contributions to accounts; updating statutory language; updating statutory reference; and providing an effective date. SUBJECT: Oklahoma College Savings Plan SECTION 1. AMENDATORY 70 O.S. 2021, Section 3970.7, is amended to read as follows: Section 3970.7. A. The program shall be operated through the use of accounts. An account may be opened by any person who desires to save to pay the qualified higher education expenses of a person by: 1. Completing an application in the form prescribed by the Board; 2. Paying the one-time application fee established by the Board; 3. Making the minimum contribution required by the Board or by opening an account; and 4. Designating the type of account to be opened if more than one type of account is offered. B. Any person may make contributions to an account after the account is opened. C. Contributions to accounts may be made only in cash or by the use of digital peer-to-peer payment networks and digital payment networks. D. Account owners may withdraw all or part of the balance from an account on sixty (60) days' notice, or a shorter period as may be authorized by the Board, under rules prescribed …
Sponsors
- Nikki Nice (D, SD-048) · primary sponsor
Latest actions
- : Approved by Governor 05/12/2026
- : Sent to Governor
- : Enrolled, to House
- : Referred for enrollment
- : Signed, returned to Senate
- : Third Reading, Measure passed: Ayes: 86 Nays: 2
- : General Order
- : CR; Do Pass Appropriations and Budget Committee
- : Recommendation to the full committee; Do Pass Appropriations and Budget Education Subcommittee
- : Referred to Appropriations and Budget Education Subcommittee
Votes
- Third Reading (May 6, 2026): 86 yea, 2 nay, passed
- Floor Vote (April 21, 2026): 25 yea, 0 nay, passed
- Floor Vote (April 6, 2026): 7 yea, 0 nay, passed
- Third Reading (February 19, 2026): 44 yea, 0 nay, passed
- Senate Revenue & Taxation Committee (February 9, 2026): 9 yea, 0 nay, passed
Subjects: Financial Institutions
Common questions
- What is SB1989?
- SB1989 is a bill in the Oklahoma Legislature (2026 Regular Session): Oklahoma College Savings Plan; expanding options for making contributions to a 529 Savings Plan. Effective date.
- What does SB1989 do?
- In its own words: An Act relating to the Oklahoma College Savings Plan; amending 70 O.S. 2021, Section 3970.7, which relates to operation through use of accounts; expanding options for making contributions to accounts; updating statutory language; updating statutory reference; and providing an effective date. SUBJECT: Oklahoma College Savings Plan.
- What is the status of SB1989?
- Signed into law as of May 13, 2026. Latest action: Approved by Governor 05/12/2026 (May 13, 2026).
- Who sponsored SB1989?
- Nikki Nice (D, SD-048).
- Where is the official record for SB1989?
- On the Oklahoma Legislature website: https://www.oklegislature.gov/BillInfo.aspx?Bill=SB1989&Session=2600
Source: official Oklahoma record. Tracked by Delilah, AI for legislation across all 50 states and Congress.