Oklahoma § 70-9010 - Revenues – General fund of institution – Authorized

§ 70-9010. Revenues – General fund of institution – Authorized

expenditures.

A. All revenues derived from the net assessed value of property

located within the boundary of the higher education funding district

shall be paid by the county treasurer to the general fund of the

eligible institution or to such fund as may be specified by the

board of regents for the institution, and the board of regents for

Oklahoma Statutes - Title 70. Schools

the institution shall be authorized to expend such revenues in

support of the operational expenses of the institution, including,

without limitation, employee salaries, employee benefits, including

retirement benefits and health care benefits, federal or state

income or withholding taxes or related payroll taxes, utility costs,

insurance expenses, books, electronic instructional materials,

supplies for classrooms, upkeep of grounds and landscaping,

maintenance of physical plants such as heating and air conditioning

units, acquisition and maintenance of motor vehicles and such other

expenditures as may be approved by the board of regents pursuant to

such standards and procedures as the board of regents may establish.

B. None of the revenues derived from any millage rate imposed

within the boundary of a higher education funding district may be

used by an institution within The Oklahoma State System of Higher

Education to compete with the services or programs offered by any

existing career technology district which is either contiguous to

the boundary of the higher education funding district or located in

sufficiently close proximity to the higher education funding

district that the programs or services offered by such career

technology district would be duplicated or adversely impacted by the

expenditure of funds by the institution which causes the formation

of the higher education funding district pursuant to the provisions

of this act.

C. The Oklahoma State Regents for Higher Education shall not

take into consideration revenues derived from any millage levy

imposed pursuant to the provisions of the Higher Education

Institution Local Funding Act when allocating state-appropriated

funds for support of the institution which established a higher

education funding district pursuant to the provisions of this act.

Added by Laws 2022, c. 406, § 10.