Oklahoma SB2060: Improvement districts; master development districts; requirements and procedures; bonds. Effective date.

What the bill says

An Act relating to improvement districts; amending 11 O.S. 2021, Sections 39-101, 39-102, and 39-103, which relate to short title, definitions, and creation of certain districts; modifying short title; modifying definitions; providing for the creation of master development districts upon certain approval; establishing requirements and procedures for approval of applications for the creation of certain districts; allowing protests of approvals within specified time period; authorizing districts to adopt rules and bylaws; requiring inclusion of certain provisions in governing document…

From the enrolled text, April 16, 2026:

An Act relating to improvement districts; amending 11 O.S. 2021, Sections 39-101, 39-102, and 39-103, which relate to short title, definitions, and creation of certain districts; modifying short title; modifying definitions; providing for the creation of master development districts upon certain approval; establishing requirements and procedures for approval of applications for the creation of certain districts; allowing protests of approvals within specified time period; authorizing districts to adopt rules and bylaws; requiring inclusion of certain provisions in governing document; granting certain rights and powers to board of supervisors of master development districts; authorizing lien on real property for assessments levied by the master development districts; authorizing districts to make certain improvements; construing provisions; requiring obligations be payable from certain sources; authorizing districts to take certain actions related to works or improvements; granting districts certain contracting authority; requiring certain parties enter into a master development agreement; establishing requirements for master development agreements; directing the State Treasurer to develop certain template; authorizing certain covenants; amending 11 O.S. 2021, Section 39-115, which relates to the issuance of certain bonds; authorizing the issuance of certain bonds by districts; modifying and specifying applicability of certain provisions; updating statutory language; prohibiting certain utility ownership or services from being provided; providing for codification; and providing an effective date. SUBJECT: Improvement districts SECTION 1. AMENDATORY 11 O.S. 2021, …