Read the full stored bill text
HJR1050 HFLR Page 1
BOLD FACE denotes Committee Amendments.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
HOUSE OF REPRESENTATIVES - FLOOR VERSION
STATE OF OKLAHOMA
2nd Session of the 60th Legislature (2026)
HOUSE JOINT
RESOLUTION 1050 By: Harris
AS INTRODUCED
A Joint Resolution directing the Secretary of State
to refer to the people for their approval or
rejection a proposed amendment to Section 40 of
Article X of the Constitution of the State of
Oklahoma; decreasing the term limit for board members
on the Board of Directors of the Tobacco Settlement
Endowment Trust Fund; authorizing the appointing
authority to remove members at will; providing ballot
title; and directing filing.
BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES AND THE SENATE OF THE
2ND SESSION OF THE 60TH OKLAHOMA LEGISLATURE:
SECTION 1. The Secretary of State shall refer to the people for
their approval or rejection, as and in the manner provided by law,
the following proposed amendment to Section 40 of Article X of the
Constitution of the State of Oklahoma to read as follows:
Section 40. A. There is hereby created a trust fund to be
known as the "Tobacco Settlement Endowment Trust Fund". The trust
fund principal shall consist of the portion of monies which are
HJR1050 HFLR Page 2
BOLD FACE denotes Committee Amendments.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
received by the State of Oklahoma on or after July 1, 2001, pursuant
to any settlement with or judgment against any tobacco company or
companies as provided by subsection B of this section, and any other
monies that may be appropriated or otherwise directed to the trust
fund by the Legislature.
B. 1. Deposits into the trust fund from monies which are
received by the State of Oklahoma pursuant to any settlement with or
judgment against any tobacco company or companies shall be based on
the following schedule:
Minimum Percentage
Fiscal Year of Payments
Ending June 30, 2002 50%
Ending June 30, 2003 55%
Ending June 30, 2004 60%
Ending June 30, 2005 65%
Ending June 30, 2006 70%
Ending June 30, 2007 75%
2. Deposits into the trust fund in subsequent fiscal years
shall never be less than seventy-five percent (75%) of the payments.
3. The monies received by the State of Oklahoma pursuant to any
settlement with or judgment against any tobacco company or companies
after June 30, 2001, not deposited into the trust fund as provided
in this section, shall be deposited into a special fund established
by the Legislature solely for the purpose of receiving the payments;
HJR1050 HFLR Page 3
BOLD FACE denotes Committee Amendments.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
provided, the Legislature may, by law, direct a certain portion of
such monies to the Office of the Attorney General. The special fund
shall be subject to legislative appropriations.
C. There is hereby created the Board of Investors of the
Tobacco Settlement Endowment Trust Fund. The Board of Investors
shall have the duty of investing monies in the trust fund, subject
to restrictions and limitations provided by law for and in
accordance with laws applicable to the investment of monies in state
retirement funds.
The Board of Investors shall consist of five (5) members as
follows:
1. The State Treasurer who shall be the chair;
2. An appointee of the Governor;
3. An appointee of the Speaker of the House of Representatives;
4. An appointee of the President Pro Tempore of the Senate; and
5. An appointee of the State Auditor and Inspector.
The initial appointees shall serve staggered terms of office as
provided for by law. Thereafter, appointees shall serve four-year
terms of office. No more than two appointees shall be appointed
from any single congressional district. All appointed members shall
have demonstrated expertise in public or private investment funds
management.
D. There is hereby created the Board of Directors of the
Tobacco Settlement Endowment Trust Fund. The Board of Directors
HJR1050 HFLR Page 4
BOLD FACE denotes Committee Amendments.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
shall consist of seven (7) members, one appointed by each of the
following appointing authorities:
1. The Governor;
2. The President Pro Tempore of the Senate;
3. The Speaker of the House of Representatives;
4. The Attorney General;
5. The State Treasurer;
6. The State Auditor and Inspector; and
7. The State Superintendent of Public instruction.
The initial appointed members shall serve staggered terms of
office as provided for by law. Thereafter, the appointed members of
the Board of Directors shall serve seven-year four-year terms of
office. Members shall be subject to removal, at will, by their
respective appointing authority. At least one appointee shall be
appointed from each congressional district, and not more than two
appointees shall be appointed from any single congressional
district. Not more than four appointees shall be members of the
same political party. An appointee shall have been a member of the
political party to which the appointee belongs for at least one (1)
year prior to the date of appointment. Appointees shall have
demonstrated expertise in public or private health care or programs
related to or for the benefit of children or senior adults.
The Board of Directors shall meet at least one time each
calendar quarter.
HJR1050 HFLR Page 5
BOLD FACE denotes Committee Amendments.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
E. Earnings from the trust fund, including but not limited to
interest, dividends, and realized capital gains from investments of
the trust fund shall be expended as provided in subsection F of this
section for the following purposes:
1. Clinical and basic research and treatment efforts in
Oklahoma for the purpose of enhancing efforts to prevent and combat
cancer and other tobacco-related diseases;
2. Cost-effective tobacco prevention and cessation programs;
3. Programs other than those specified in paragraph 1 of this
subsection designed to maintain or improve the health of Oklahomans
or to enhance the provision of health care services to Oklahomans,
with particular emphasis on such programs for children;
4. Programs and services for the benefit of the children of
Oklahoma, with particular emphasis on common and higher education,
before- and after-school and pre-school programs, substance abuse
prevention and treatment programs and other programs and services
designed to improve the health and quality of life of children;
5. Programs designed to enhance the health and well-being of
senior adults; and
6. Authorized administrative expenses of the Office of the
State Treasurer and the Board of Directors.
F. Each fiscal year, the Board of Directors may expend the
amount of earnings which actually accrued to the trust fund during
the preceding fiscal year. Any amount not so expended shall remain
HJR1050 HFLR Page 6
BOLD FACE denotes Committee Amendments.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
in the trust fund. The Board shall direct specific expenditures to
be made for the purposes specified in subsection E of this section.
G. The Legislature may enact laws to further implement the
provisions of this section.
SECTION 2. The Ballot Title for the proposed Constitutional
amendment as set forth in SECTION 1 of this resolution shall be in
the following form:
BALLOT TITLE
Legislative Referendum No. ____ State Question No. ____
THE GIST OF THE PROPOSITION IS AS FOLLOWS:
This measure amends the Oklahoma Constitution. The measure
amends Section 40 of Article 10. The measure changes the term
limit from seven (7) years to four (4) years to serve as a
member on the Board of Directors of the Tobacco Settlement
Endowment Trust Fund. The measure authorizes the appointing
authority of each member to be able to remove the member that
the appointing authority appointed.
SHALL THE PROPOSAL BE APPROVED?
FOR THE PROPOSAL — YES _____________
AGAINST THE PROPOSAL — NO _____________
SECTION 3. The Chief Clerk of the House of Representatives,
immediately after the passage of this resolution, shall prepare and
file one copy thereof, including the Ballot Title set forth in
HJR1050 HFLR Page 7
BOLD FACE denotes Committee Amendments.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
SECTION 10 hereof, with the Secretary of State and one copy with the
Attorney General.
COMMITTEE REPORT BY: COMMITTEE ON RULES, dated 03/05/2026 - DO PASS.