Bill No. 1020 amends existing laws regarding the procedures for state agency transactions, specifically focusing on the Office of the State Treasurer and the Office of Management and Enterprise Services. The bill allows the Office of the State Treasurer to purchase, acquire, lease, and manage properties without being subject to the provisions of Section 327 of Title 61 of the Oklahoma Statutes. Additionally, it exempts the Office of the State Treasurer from the application of certain regulations when purchasing a state depository facility. The bill also includes conforming language to ensure consistency across related statutes.

Furthermore, the bill outlines the responsibilities of the Office of Management and Enterprise Services in managing state-owned real property transactions, including the requirement for state agencies to seek approval before engaging in property transactions. It establishes procedures for property disposal, appraisal requirements, and the maintenance of a comprehensive inventory of state-owned real property. The act is set to take effect on July 1, 2025, and declares an emergency for its immediate implementation upon passage and approval.

Statutes affected:
Introduced: 61-327
Floor (Senate): 61-327
Engrossed: 61-327