State Capitol Building; dissolving the State Capitol Repair Expenditure Oversight Committee. Effective date.

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SENATE FLOOR VERSION
February 11, 2025

SENATE BILL NO. 479 By: Grellner

An Act relating to the State Capitol Building;
amending 73 O.S. 2021, Sections 345 and 346, which
relate to the renovation, repair, and remodeling of
the State Capitol Building; dissolving the State
Capitol Repair Expenditure Oversight Committee;
updating statutory language; updating statutory
reference; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 73 O.S. 2021, Section 345, is
amended to read as follows:
Section 345. A. In addition to any other authorization
provided by law, the Oklahoma Capitol Improvement Authority is
authorized to issue obligations to acquire real property, together
with improvements located thereon, and personal property to
construct improvements to real property and to provide funding for
repairs, refurbishments and improvements to real and personal
property of the State Capitol Building in a total amount not to
exceed One Hundred Twenty Million Dollars ($120,000,000.00). The
funds shall be used for the renovation, repair and remodeling of the
State Capitol Building.

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B. The Authority may hold title to the property and
improvements until such time as any obligations issued for this
purpose are retired or defeased and may lease the property and
improvements to the Office of Management and Enterprise Services.
Upon final redemption or defeasance of the obligations created
pursuant to this section, title to the property and improvements
shall be transferred from the Oklahoma Capitol Improvement Authority
to the Office of Management and Enterprise Services.
C. For the purposes of paying the costs for construction of the
real property and improvements, and providing funding for the
project authorized in subsection A of this section, and for the
purpose authorized in subsection D of this section, the Authority is
hereby authorized to borrow monies on the credit of the income and
revenues to be derived from the leasing of such property and
improvements and, in anticipation of the collection of such income
and revenues, to issue negotiable obligations in a total amount not
to exceed One Hundred Twenty Million Dollars ($120,000,000.00)
whether issued in one or more series. The Authority is authorized
to capitalize interest on the obligations issued pursuant to this
section for a period of not to exceed one (1) year from the date of
issuance. For subsequent fiscal years, it is the intent of the
Legislature to appropriate to the Office of Management and
Enterprise Services sufficient monies to make rental payments for
the purpose of retiring the obligations created pursuant to this

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section. To the extent funds are available from the proceeds of the
borrowing authorized by this subsection, the Oklahoma Capitol
Improvement Authority shall provide for the payment of professional
fees and associated costs related to the project authorized in
subsection A of this section.
D. The Authority may issue obligations in one or more series
and in conjunction with other issues of the Authority. The
Authority is authorized to hire bond counsel, financial consultants,
and such other professionals as it may deem necessary to provide for
the efficient sale of the obligations and may utilize a portion of
the proceeds of any borrowing to create such reserves as may be
deemed necessary and to pay costs associated with the issuance and
administration of such obligations.
E. The obligations authorized under this section may be sold at
either competitive or negotiated sale, as determined by the
Authority, and in such form and at such prices as may be authorized
by the Authority. The Authority may enter into agreements with such
credit enhancers and liquidity providers as may be determined
necessary to efficiently market the obligations. The obligations
may mature and have such provisions for redemption as shall be
determined by the Authority, but in no event shall the final
maturity of such obligations occur later than ten (10) years from
the first principal maturity date.

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F. Any interest earnings on funds or accounts created for the
purposes of this section may be utilized as partial payment of the
annual debt service or for the purposes directed by the Authority.
G. The obligations issued under this section, the transfer
thereof and the interest earned on such obligations, including any
profit derived from the sale thereof, shall not be subject to
taxation of any kind by the State of Oklahoma this state, or by any
county, municipality or political subdivision therein.
H. The Authority may direct the investment of all monies in any
funds or accounts created in connection with the offering of the
obligations authorized under this section. Such investments shall
be made in a manner consistent with the investment guidelines of the
State Treasurer. The Authority may place additional restrictions on
the investment of such monies if necessary to enhance the
marketability of the obligations.
I. There is hereby created a State Capitol Repair Expenditure
Oversight Committee. The proceeds from the sale of obligations
issued pursuant to the provisions of this section and Section 1 of
Enrolled House Bill No. 3168 of the 2nd Session of the 55th Oklahoma
Legislature that are needed for repairs to the interior and exterior
of the State Capitol shall be subject to the approval of the State
Capitol Repair Expenditure Oversight Committee; provided, however,
the expenditure of those proceeds shall be subject to a request for
proposal process.

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The Committee shall be composed of nine (9) members as follows:
1. Three persons to be appointed by the Governor, one of whom
shall serve as chair of the Committee;
2. Three legislators to be appointed by the Speaker of the
House of Representatives, two of whom shall be members of the
majority political party and one of whom shall be a member of the
minority political party; and
3. Three legislators to be appointed by the President Pro
Tempore of the Senate, two of whom shall be members of the majority
political party and one of whom shall be a member of the minority
political party. Five members of the Committee shall constitute a
quorum and the vote of five members shall be necessary for any
action taken by the Committee. The Committee shall be staffed by
employees of the Office of Management and Enterprise Services. The
Committee shall be subject to the Oklahoma Open Meeting Act.
J. The Committee shall deliver a preliminary plan for the
renovation, repair and remodeling of the State Capitol to the
Director of the Office of Management and Enterprise Services no
later than December 31, 2014. The preliminary plan shall include
the following components:
1. Establishment of the Office of Management and Enterprise
Services’ goal and criteria for use by the vendor; and
2. Selection criteria for the design-build team vendor to be
selected through a Request For Proposal process.

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K. Following receipt of the preliminary plan as approved by the
Committee, the Office of Management and Enterprise Services shall
solicit Requests For Proposals to select the vendor for the project.
L. The Committee shall deliver a final plan to the Director of
the Office of Management and Enterprise Services no later than June
30, 2015. The final plan shall include the following components:
1. Approval of the final scope of work developed by the vendor;
and
2. Approval of the project phasing developed by the vendor.
M. Following delivery of the final plan, the Committee shall
continue to oversee the expenditure of proceeds from the sale of
obligations issued pursuant to the provisions of this section and
Section 1 of Enrolled House Bill No. 3168 of the 2nd Session of the
55th Legislature, until completion of the renovation, repair and
remodeling of the State Capitol. The Committee may also propose and
approve amendments to the plan as it deems appropriate.
N. The Director of the Office of Management and Enterprise
Services shall have responsibility to substantially implement the
plan as presented by the Committee; provided, the President Pro
Tempore of the Senate or the Speaker of the House of Representatives
shall approve all proposed designs related to renovation, repair and
remodeling of space within the State Capitol Building under the
management and control of the Legislature and allocated to that
officer’s house of the Legislature pursuant to the provisions of

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Section 15.1 of this title, and any subsequent changes to such
plans. Joint approval of the President Pro Tempore of the Senate
and the Speaker of the House of Representatives shall be required
for such plans for space under the management and control of the
Legislature and not allocated to a specific house of the
Legislature. Such approval shall be in writing.
O. Insofar as they are not in conflict with the provisions of
this section, the provisions of Section 151 et seq. of this title
shall apply to this section.
SECTION 2. AMENDATORY 73 O.S. 2021, Section 346, is
amended to read as follows:
Section 346. A. In addition to any other authorization
provided by law, the Oklahoma Capitol Improvement Authority is
authorized to issue obligations to acquire real property, together
with improvements located thereon, and personal property to
construct improvements to real property and to provide funding for
repairs, refurbishments and improvements to real and personal
property of the State Capitol Building and associated furniture,
fixtures and equipment in a total amount not to exceed One Hundred
Twenty-five Million Dollars ($125,000,000.00). The funds shall be
used for the renovation, repair and remodeling of the State Capitol
Building.
B. The Authority may hold title to the property and
improvements until such time as any obligations issued for this

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purpose are retired or defeased and may lease the property and
improvements to the Office of Management and Enterprise Services.
Upon final redemption or defeasance of the obligations created
pursuant to this section, title to the property and improvements
shall be transferred from the Oklahoma Capitol Improvement Authority
to the Office of Management and Enterprise Services.
C. For the purposes of paying the costs for construction of the
real property and improvements, and providing funding for the
project authorized in subsection A of this section, and for the
purpose authorized in subsection D of this section, the Authority is
hereby authorized to borrow monies on the credit of the income and
revenues to be derived from the leasing of such property and
improvements and, in anticipation of the collection of such income
and revenues, to issue negotiable obligations in a total amount not
to exceed One Hundred Twenty-five Million Dollars ($125,000,000.00)
whether issued in one or more series. The Authority is authorized
to capitalize interest on the obligations issued pursuant to this
section for a period of not to exceed one (1) year from the date of
issuance. For subsequent fiscal years, it is the intent of the
Legislature to appropriate to the Office of Management and
Enterprise Services sufficient monies to make rental payments for
the purpose of retiring the obligations created pursuant to this
section. To the extent funds are available from the proceeds of the
borrowing authorized by this subsection, the Oklahoma Capitol

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Improvement Authority shall provide for the payment of professional
fees and associated costs related to the project authorized in
subsection A of this section; provided, that no such fees or costs
may be paid if such payments would jeopardize the tax-advantaged
status of the bonds under federal law.
D. The Authority may issue obligations in one or more series
and in conjunction with other issues of the Authority. The
Authority is authorized to hire bond counsel, financial consultants,
and such other professionals as it may deem necessary to provide for
the efficient sale of the obligations and may utilize a portion of
the proceeds of any borrowing to create such reserves as may be
deemed necessary and to pay costs associated with the issuance and
administration of such obligations.
E. The obligations authorized under this section may be sold at
either competitive or negotiated sale, as determined by the
Authority, and in such form and at such prices as may be authorized
by the Authority. The Authority may enter into agreements with such
credit enhancers and liquidity providers as may be determined
necessary to efficiently market the obligations. The obligations
may mature and have such provisions for redemption as shall be
determined by the Authority, but in no event shall the final
maturity of such obligations occur later than twenty (20) years from
the first principal maturity date. The first principal maturity
date for each series of bonds sold under this authorization shall

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occur no later than eighteen (18) months from its delivery date. No
bonds shall be delivered prior to July 1, 2018.
F. Any interest earnings on funds or accounts created for the
purposes of this section may be utilized as partial payment of the
annual debt service or for the purposes directed by the Authority.
G. The obligations issued under this section, the transfer
thereof and the interest earned on such obligations, including any
profit derived from the sale thereof, shall not be subject to
taxation of any kind by the State of Oklahoma this state, or by any
county, municipality or political subdivision therein.
H. The Authority may direct the investment of all monies in any
funds or accounts created in connection with the offering of the
obligations authorized under this section. Such investments shall
be made in a manner consistent with the investment guidelines of the
State Treasurer. The Authority may place additional restrictions on
the investment of such monies if necessary to enhance the
marketability of the obligations.
I. The proceeds from the sale of obligations issued pursuant to
the provisions of this section that are needed for repairs,
refurbishments and improvements to real and personal property of the
State Capitol Building, and associated furniture, fixtures and
equipment for the State Capitol shall be subject to the approval of
the State Capitol Repair Expenditure Oversight Committee created
pursuant to Section 345 of Title 73 of the Oklahoma Statutes.

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J. Insofar as they are not in conflict with the provisions of
this section, the provisions of Section 151 et seq. of Title 73 of
the Oklahoma Statutes this title shall apply to this section.
SECTION 3. This act shall become effective November 1, 2025.
COMMITTEE REPORT BY: COMMITTEE ON RETIREMENT AND GOVERNMENT
RESOURCES
February 11, 2025 - DO PASS