Oklahoma HB1590: Public finance; enacting the Education Infrastructure Linked Deposit Program Act; administration of program; guidelines; loans; State Treasurer; effective date.

What the bill says

An Act relating to public finance; enacting the Oklahoma Education Infrastructure Linked Deposit Program Act; defining terms; requiring State Treasurer to disseminate information; authorizing administration of program; authorizing issuance of guidelines; requiring annual report; providing for certain loan packages; prescribing procedures for applications to participate in program; imposing restriction on loan agreements; prohibiting certain conflict of interest; imposing requirement with respect to use of loan proceeds; providing for evaluation of education service entity…

From the enrolled text, April 29, 2026:

An Act relating to public finance; enacting the Oklahoma Education Infrastructure Linked Deposit Program Act; defining terms; requiring State Treasurer to disseminate information; authorizing administration of program; authorizing issuance of guidelines; requiring annual report; providing for certain loan packages; prescribing procedures for applications to participate in program; imposing restriction on loan agreements; prohibiting certain conflict of interest; imposing requirement with respect to use of loan proceeds; providing for evaluation of education service entity; prescribing procedures for review; providing for determination of certain interest rate; prohibiting false statements; providing for review of loan packages by State Treasurer; prescribing procedures in the event of application rejections; providing for evaluation by State Treasurer; providing for placement of certain state funds; providing for deposit agreements; stating requirements of agreements; imposing duty on lending institution; prescribing requirement with respect to interest rate; providing for certificates of compliance; providing for immunity from liability; providing for effect of certain events related to loan agreement; prescribing maximum loan amount; authorizing renewals; providing for codification; and providing an effective date. SUBJECT: Public finance SECTION 1. NEW LAW A new section of law to be codified in the Oklahoma Statutes as Section 92.1 of Title 62, unless there is created a duplication in numbering, reads as follows: This act shall be known and may be cited as the "Oklahoma Education …