Bill No. 1420, introduced by Representatives West and Bergstrom, amends Section 61.8 of Title 74 of the Oklahoma Statutes, which governs the reduction of state-owned property. The bill aims to enhance the efficiency of state property management by requiring state agencies to seek approval from the Office of Management and Enterprise Services before entering into leases, purchasing real property, or constructing buildings. It emphasizes the need to utilize existing state-owned properties before considering new acquisitions and mandates that any transfer of real property between state entities must be approved by the Long-Range Capital Planning Commission. Additionally, the bill introduces a new exemption for the Grand River Dam Authority from the provisions of this section.

The bill also stipulates that proceeds from the sale of state-owned properties must be deposited into the Maintenance of State Buildings Revolving Fund and requires an annual report detailing property sales, reductions in leased space, and maintenance fund expenditures. The effective date for this legislation is set for November 1, 2025.