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An Act
ENROLLED HOUSE
BILL NO. 4053 By: Caldwell (Trey) and Kane of
the House
and
Hall and Haste of the
Senate
An Act relating to Oklahoma Capitol Improvement
Authority; providing for allocation of funds from the
Legacy Capital Financing Fund; authorizing
utilization of certain amount for the purpose of
benefitting the University of Oklahoma; requiring
certain recapitalization payments over certain
period; authorizing certain distributions; placing
limiting conditions on such authorization;
authorizing and limiting utilization of memoranda of
understanding; and providing for codification.
SUBJECT: Oklahoma Capitol Improvement Authority
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 187A-15 of Title 73, unless
there is created a duplication in numbering, reads as follows:
A. Subject to the limitation provided in subsection E of this
section, and in addition to any other authorization provided by law,
the Oklahoma Capitol Improvement Authority is authorized to utilize
available funds from the Legacy Capital Financing Fund created by
Section 187B of Title 73 of the Oklahoma Statutes, in the amount of
Forty Million Dollars ($40,000,000.00) for the benefit of the
University of Oklahoma to construct, refurbish, or expand residence
hall facilities and classroom building facilities.
B. LCF Recapitalization Payments shall be made related to the
distribution of proceeds provided in subsection A of this section,
in accordance with the provisions of the Legacy Capital Financing
ENR. H. B. NO. 4053 Page 2
Act, provided that notwithstanding the provisions of subparagraph b
of paragraph 2 of subsection B of Section 187B of Title 73 of the
Oklahoma Statutes, such LCF Recapitalization Payments shall begin no
later than the month of May of the fiscal year in which subsection A
of this section becomes law.
C. The Authority may distribute funds authorized pursuant to
subsection A of this section in one or more tranches.
D. The Authority may enter memoranda of understanding with
agencies, departments, and subdivisions of the state as needed, to
facilitate the provisions of this act, provided that such memoranda
of understanding do not constitute a legal obligation of the State
of Oklahoma or impede the administration of the provisions of the
Legacy Capital Financing Act.
E. The Authority shall not distribute funds authorized pursuant
to subsection A of this section until the latter of:
1. July 1, 2027; and
2. Verification by the Authority that the University of
Oklahoma has collected Ten Million Dollars ($10,000,000.00) in funds
to match the authorization provided for the project described in
subsection A of this section.
ENR. H. B. NO. 4053 Page 3
Passed the House of Representatives the 14th day of April, 2026.
Presiding Officer of the House
of Representatives
Passed the Senate the 16th day of April, 2026.
Presiding Officer of the Senate
OFFICE OF THE GOVERNOR
Received by the Office of the Governor this ____________________
day of ___________________, 20_______, at _______ o'clock _______ M.
By: _________________________________
Approved by the Governor of the State of Oklahoma this _________
day of ___________________, 20_______, at _______ o'clock _______ M.
_________________________________
Governor of the State of Oklahoma
OFFICE OF THE SECRETARY OF STATE
Received by the Office of the Secretary of State this __________
day of ___________________, 20_______, at _______ o'clock _______ M.
By: _________________________________