SB1991

Oklahoma SB1991 amends capital planning and budgeting processes, real estate transactions, and fund allocations for state-owned properties.

Oklahoma SB1991 modifies the State Capital Improvement Planning Act, affecting capital planning and budgeting processes. It mandates the Long-Range Capital Planning Commission to develop five-year plans for higher education, state, and tourism and recreation facilities. The bill allocates funds from the Oklahoma Capital Assets Maintenance and Protection Fund to these plans. It also revises real estate transaction procedures, requiring state agencies to obtain approval from the Office of Management and Enterprise Services for property sales, leases, or disposals.