Senate Bill No. 760 amends Section 4103 of Title 70 of the Oklahoma Statutes, which pertains to the accreditation of private institutions of higher education. The bill updates statutory references and language, and it introduces exemptions for certain organizations and institutions. Specifically, it exempts religious organizations or degree-granting institutions primarily focused on providing religious training or theological education, which are also tax-exempt under Section 501(c)(3) of the Internal Revenue Code. Additionally, the bill clarifies that non-exempt institutions engaged in non-degree-granting activities, such as offering certificates and diplomas, will be subject to standards set by the Oklahoma Board of Private Vocational Schools.

The bill also outlines the responsibilities of the Oklahoma State Regents for Higher Education, including the establishment of annual fees for authorization applications and the creation of a Tuition Recovery Revolving Fund to offset student tuition losses in case an authorized institution closes. It allows the State Regents to deny, not renew, or revoke an institution's authorization if it violates Oklahoma statutes or fails to meet established standards. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.

Statutes affected:
Introduced: 70-4103
Floor (Senate): 70-4103