Senate Bill No. 36 amends Section 61.8 of Title 74 of the Oklahoma Statutes, focusing on the operations of the Long-Range Capital Planning Commission. The bill aims to streamline the process for state agencies regarding the leasing, purchasing, and transferring of real property. It requires state agencies to obtain approval from the Office of Management and Enterprise Services before entering into leases or making purchases, with specific provisions for properties owned by the Oklahoma Historical Society. Additionally, the bill mandates that any transfer of real property between state entities must be approved by the Long-Range Capital Planning Commission, ensuring that proceeds from such transfers are deposited into the Maintenance of State Buildings Revolving Fund.

The bill also updates statutory language, including changing references from "State of Oklahoma" to "state" and adding the Grand River Dam Authority to the list of entities exempt from certain land and property requirements. Furthermore, it emphasizes the need for annual reporting on state-owned property sales and leasing reductions, which will be made available to key government officials and the public. An emergency clause is included, allowing the bill to take effect immediately upon passage and approval.