STATE OF OKLAHOMA

2nd Session of the 54th Legislature (2014)

HOUSE BILL 3054	By:	Smalley

AS INTRODUCED

An Act relating to public finance; requiring legislative approval prior to the expenditure of certain earnings; providing for codification; and providing an 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 2311 of Title 62, unless there is created a duplication in numbering, reads as follows:
Pursuant to subsection G of Section 40 of Article X of the Oklahoma Constitution, legislative approval expressed by concurrent resolution shall be required each fiscal year prior to the expenditure by the Board of Directors of the Tobacco Settlement Endowment Trust Fund of earnings accrued to the Trust Fund during the preceding fiscal year.
SECTION 2.  This act shall become effective November 1, 2014.

54-2-9773	AM	01/14/14