This bill amends the eligibility requirements for the Oklahoma Tuition Equalization Grant by increasing the income cap for applicants from Fifty Thousand Dollars ($50,000) to Eighty Thousand Dollars ($80,000) per year. The bill retains the existing criteria that students must be Oklahoma residents, enrolled as full-time undergraduates in eligible institutions, and must pay more tuition than required at comparable public institutions. Additionally, it mandates that the enrolling institution submit necessary documentation to the State Regents by specified deadlines each semester.

The bill also outlines the administration of the grant, including the amount awarded, which remains at Two Thousand Dollars ($2,000) per academic year or One Thousand Dollars ($1,000) per semester, contingent on the availability of funds. It emphasizes that grants will be awarded based on need if funds are insufficient and prioritizes students who have previously received grants. The act is set to take effect on July 1, 2026, and declares an emergency for its immediate implementation upon passage and approval.

Statutes affected:
Introduced: 70-2632