The bill amends Oklahoma statutes concerning the management of state property and establishes the Oklahoma Capital Assets Maintenance and Protection Fund (OCAMP Fund), which replaces the previous Maintenance of State Buildings Revolving Fund. It mandates that all proceeds from the sale of leases, property, bonuses, and royalties be deposited into this new fund. The legislation eliminates the requirement for certain annual budgets and capital plans, while requiring cooperation from the Oklahoma State Regents for Higher Education and other state entities in preparing five-year plans. The Office of Management and Enterprise Services (OMES) is authorized to manage funds for emergency projects and to oversee the disposal of real property, ensuring that properties are sold for no less than ninety percent of their appraised value.

Additionally, the bill establishes a Long-Range Capital Planning Commission to develop five-year plans for the allocation of the OCAMP Fund, with specific allocations designated for higher education, tourism and recreation, and state properties. It emphasizes the need for comprehensive assessments of capital facilities and long-term planning, while exempting certain authorities from these new provisions. The bill also includes a requirement for OMES to submit a prioritized list of proposed projects to the Governor and legislative leaders, allowing for legislative review and potential disapproval. The act is set to take effect on July 1, 2026, with an emergency clause for immediate implementation upon passage.

Statutes affected:
Introduced: 61-309, 61-316, 61-317, 61-326, 61-327, 62-901, 62-908, 74-61.8