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Req. No. 10193 Page 1
STATE OF OKLAHOMA
1st Session of the 60th Legislature (2025)
HOUSE BILL 1428 By: Boles
AS INTRODUCED
An Act relating to schools; creating the Building
Equalization for K-8 Student Transfers Revolving
Fund; creating apportionment; stating purpose of the
revolving fund; specifying the fund is continuing and
not subject to fiscal year limitations; providing
monetary limitations of the fund; stating uses of the
fund; making expenditures subject to warrants;
providing for codification; providing an effective
date; and declaring an emergency.
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 8-201 of Title 70, unless there
is created a duplication in numbering, reads as follows:
A. There is hereby created in the State Treasury a revolving
fund for the State Department of Education to be designated the
"Building Equalization for K-8 Student Transfers Revolving
Fund"("BEST Fund"). The BEST Fund shall be used to fund the
building expenses of receiving districts as defined in Section 8-101
of this title. The BEST Fund shall be a continuing fund, not
subject to fiscal year limitations, and shall consist of all monies
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received by the State Department of Education as authorized by law,
not to exceed Ten Million Dollars ($10,000,000.00).
B. All monies accruing to the credit of the fund are hereby
appropriated and shall be budgeted and distributed by the State
Department of Education and expended by the receiving districts as
described in subsection A of this section. The BEST Fund shall only
be used by receiving districts for the purpose of erecting,
remodeling, repairing or maintaining school buildings, for
purchasing furniture, equipment and computer software to be used on
or for school district property, for repairing and maintaining
computer systems and equipment, for paying energy and utility costs,
for purchasing telecommunications utilities and services, for paying
fire and casualty insurance premiums for school facilities, for
purchasing security systems, for paying salaries of security
personnel, for purchasing school buses, or for one or more, or all,
of such purposes.
C. Expenditures from the BEST Fund shall be made upon warrants
issued by the State Treasurer against claims filed as prescribed by
law with the Director of the Office of Management and Enterprise
Services for approval and payment.
SECTION 2. This act shall become effective July 1, 2025.
SECTION 3. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
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declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
60-1-10193 SW 11/22/24