1 STATE OF OKLAHOMA
2 2nd Session of the 59th Legislature (2024)
3 HOUSE BILL 4157 By: McCall of the House
4 and
5 Treat of the Senate
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8 AS INTRODUCED
9 An Act relating to the Higher Learning Access Trust
Fund; amending 62 O.S. 2021, Section 34.87, which
10 relates to the transfer of funds to the Trust Fund;
limiting transfers to annual amounts authorized by
11 legislation; providing an effective date; and
declaring an emergency.
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14 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
15 SECTION 1. AMENDATORY 62 O.S. 2021, Section 34.87, is
16 amended to read as follows:
17 Section 34.87 In order to ensure that the Oklahoma Higher
18 Learning Access Program will be fully funded and all eligible and
19 qualifying students receive scholarships, the following procedures
20 shall be observed:
21 1. Not later than November 1, 2007, and November 1 of each
22 subsequent year, the Oklahoma State Regents for Higher Education
23 shall estimate the amount of revenue they deem necessary to fund
24 awards allowed pursuant to the Oklahoma Higher Learning Access Act,
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1 for the fiscal year which begins the following July 1 and provide
2 such estimate to the State Board of Equalization;
3 2. At its meeting in December 2007, and December of each
4 subsequent year, held pursuant to the provisions of paragraph 1 of
5 Section 23 of Article X of the Oklahoma Constitution, the State
6 Board of Equalization shall determine the total amount of revenue
7 necessary to fund awards allowed pursuant to the Oklahoma Higher
8 Learning Access Act for the fiscal year which begins the following
9 July 1 and subtract reflect such amount from the amount it as it
10 certifies as amounts available for appropriation from the General
11 Revenue Fund by the Legislature for such fiscal year and identify
12 the amount to be authorized pursuant to paragraph 3 of this section;
13 and
14 3. Notwithstanding any other provisions of law directing the
15 apportionment of revenues, beginning with the fiscal year ending
16 June 30, 2009, and for each subsequent fiscal year, the Director of
17 the Office of Management and Enterprise Services shall transfer on a
18 periodic basis as needed the amount of revenue subtracted pursuant
19 to the provisions of paragraph 2 of this section to be deposited to
20 the Oklahoma Higher Learning Access Trust Fund, in lieu of being
21 deposited to the General Revenue Fund provided that the total amount
22 of such transfers in any fiscal year shall not exceed the amount
23 authorized for transfer by applicable budget legislation for such
24 fiscal year.
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1 SECTION 2. This act shall become effective July 1, 2024.
2 SECTION 3. It being immediately necessary for the preservation
3 of the public peace, health or safety, an emergency is hereby
4 declared to exist, by reason whereof this act shall take effect and
5 be in full force from and after its passage and approval.
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7 59-2-11169 JM 05/23/24
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