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HB1197 • 2026

Public finance; State Treasurer; transaction cards; fee structure; bullion; effective date.

Public finance; State Treasurer; transaction cards; fee structure; bullion; effective date.

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Maynard
Last action
2025-05-08
Official status
Coauthored by Representative Staires
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Public finance; State Treasurer; transaction cards; fee structure; bullion; effective date.

Public finance; State Treasurer; transaction cards; fee structure; bullion; effective date.

What This Bill Does

  • Public finance; State Treasurer; transaction cards; fee structure; bullion; effective date.
  • Bill Summaries/Fiscal Impact for HB 1197 (House): Introduced (2/24/2025) Bill Summaries/Fiscal Impact for HB 1197 (House): Committee Amendment 1 (2/24/2025) Bill Summaries/Fiscal Impact for HB 1197 (House): Committee Substitute (3/13/2025) Fiscal Impact Statements For HB 1197 (Senate): HB1197 ENGR FI.PDF (Fiscal (Senate))

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2025-05-08 Senate

    Coauthored by Representative Staires

  2. 2025-05-06 Senate

    Coauthored by Senator Gollihare

  3. 2025-04-29 Senate

    Coauthored by Senator Woods

  4. 2025-04-17 Senate

    Placed on General Order

  5. 2025-04-17 Senate

    Coauthored by Senator Weaver

  6. 2025-04-16 Senate

    Coauthored by Senator Pederson

  7. 2025-04-16 Senate

    Coauthored by Senator Frix

  8. 2025-04-16 Senate

    Coauthored by Senator Boren

  9. 2025-04-16 Senate

    Withdrawn from Appropriations committee

  10. 2025-04-15 Senate

    Coauthored by Senator Standridge

  11. 2025-04-15 Senate

    Reported Do Pass as amended Retirement and Government Resources committee; CR filed

  12. 2025-04-15 Senate

    Title restored

  13. 2025-04-15 Senate

    Referred to Appropriations

  14. 2025-04-14 Senate

    Coauthored by Senator Murdock

  15. 2025-04-09 Senate

    Coauthored by Senator Stewart

  16. 2025-04-09 Senate

    Coauthored by Senator Bergstrom

  17. 2025-04-08 Senate

    Coauthored by Senator Deevers

  18. 2025-04-08 Senate

    Coauthored by Senator Guthrie

  19. 2025-04-08 Senate

    Coauthored by Senator Alvord

  20. 2025-04-08 Senate

    Coauthored by Senator Wingard

  21. 2025-04-08 Senate

    Coauthored by Senator Burns

  22. 2025-04-08 Senate

    Coauthored by Senator Sacchieri

  23. 2025-04-07 Senate

    Withdrawn from Revenue and Taxation committee

  24. 2025-04-07 Senate

    Referred to Retirement and Government Resources

  25. 2025-04-07 Senate

    Coauthored by Senator Prieto

  26. 2025-04-07 Senate

    Coauthored by Senator Grellner

  27. 2025-04-03 Senate

    Coauthored by Senator Hamilton

  28. 2025-04-01 Senate

    Second Reading referred to Revenue and Taxation Committee then to Appropriations Committee

  29. 2025-03-25 House

    Engrossed, signed, to Senate

  30. 2025-03-25 Senate

    First Reading

  31. 2025-03-24 House

    General Order

  32. 2025-03-24 House

    Coauthored by Representative(s) Woolley, Roberts, Hall

  33. 2025-03-24 House

    Coauthored by Senator(s) McIntosh

  34. 2025-03-24 House

    Amended

  35. 2025-03-24 House

    Title stricken

  36. 2025-03-24 House

    Third Reading, Measure passed: Ayes: 77 Nays: 15

  37. 2025-03-24 House

    Referred for engrossment

  38. 2025-02-26 House

    CR; Do Pass, amended by committee substitute Government Oversight Committee

  39. 2025-02-26 House

    Coauthored by Representative(s) Hays, Adams, CrosswhiteHader, Hildebrant

  40. 2025-02-26 House

    Coauthored by Senator(s) Jett

  41. 2025-02-12 House

    Policy recommendation to the Government Oversight committee; Do Pass Banking, Financial Services and Pensions

  42. 2025-02-12 House

    Authored by Senator Bullard (principal Senate author)

  43. 2025-02-04 House

    Second Reading referred to Government Oversight

  44. 2025-02-04 House

    Referred to Banking, Financial Services and Pensions

  45. 2025-02-03 House

    First Reading

  46. 2025-02-03 House

    Authored by Representative Maynard

Official Summary Text

Public finance; State Treasurer; transaction cards; fee structure; bullion; effective date.
Bill Summaries/Fiscal Impact for HB 1197 (House): Introduced (2/24/2025)
Bill Summaries/Fiscal Impact for HB 1197 (House): Committee Amendment 1 (2/24/2025)
Bill Summaries/Fiscal Impact for HB 1197 (House): Committee Substitute (3/13/2025)
Fiscal Impact Statements For HB 1197 (Senate): HB1197 ENGR FI.PDF (Fiscal (Senate))

Current Bill Text

Read the full stored bill text 
ENGR. H. B. NO. 1197 Page 1
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ENGROSSED HOUSE
BILL NO. 1197 By: Maynard, Hays, Adams,
Crosswhite Hader,
Hildebrant, Woolley,
Roberts, and Hall of the
House

and

Bullard, Jett, and McIntosh
of the Senate

[ State Treasurer - depository - transaction cards -
procedures - fee structure - deposits and
transactions - exchange of legal tender - account
holders – rules – codification - effective date ]

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 70 of Title 62, unless there is
created a duplication in numbering, reads as follows:
A. The State Treasurer or a third-party vendor contracted by
the Office of the State Treasurer shall be authorized to issue a
transaction card to United States citizens with the ability to make
purchases that are debited from the balance of deposits with a
bullion depository created by the Office of the State Treasurer or

ENGR. H. B. NO. 1197 Page 2
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contracted with other public or private entities operating a bullion
depository.
B. Upon the creation of a depository or a contractual agreement
with an entity pursuant to subsection A of this section, the Office
of the State Treasurer shall:
1. Provide procedures for the sharing of account information
between the depository and the State Treasurer upon consent of the
account holder; and
2. Develop a fee structure for both the depository and the
Treasurer, to be paid by the account holder, to utilize the service
provided by a bullion depository.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 70.1 of Title 62, unless there
is created a duplication in numbering, reads as follows:
A. Deposits of gold and silver in the bullion depository and
transactions made using the transaction card issued by the State
Treasurer shall be considered legal tender, pursuant to the
authority vested upon this state in Section 10 of Article I of the
United States Constitution. Deposits of gold and silver in the
bullion depository shall not be considered a commodity. The
transfer, buying, or selling of gold and silver held in the
depository for transactions shall not be considered an exchange of a
commodity, and shall be considered an exchange of currency.

ENGR. H. B. NO. 1197 Page 3
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B. Account holders issued a transaction card may make
transactions debited against the value of gold and silver deposits
in the bullion depository.
C. The Treasurer may promulgate rules to implement the
provisions of this act.
SECTION 3. This act shall become effective November 1, 2025.
Passed the House of Representatives the 24th day of March, 2025.

Presiding Officer of the House
of Representatives

Passed the Senate the _____ day of __________, 2025.

Presiding Officer of the Senate