1| STATE OF OKLAHOMA | | | 2| 1st Session of the 59th Legislature (2023) | | | 3|SENATE BILL 532 By: Pugh | | | 4| | | | 5| | | | 6| AS INTRODUCED | | | 7| An Act relating to higher education; creating the | | Workforce Development Revolving Fund; specifying | 8| source of fund; providing for expenditures; providing | | purpose of fund; directing appropriation to fund for | 9| certain fiscal year; directing the Oklahoma State | | Regents for Higher Education to award funds to | 10| certain institutions; defining term; providing method | | for distribution of funds beginning in certain | 11| academic year; directing certain biennial | | calculation; providing for codification; providing an | 12| effective date; and declaring an emergency. | | | 13| | | | 14| | | | 15|BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA: | | | 16| SECTION 1. NEW LAW A new section of law to be codified | | | 17|in the Oklahoma Statutes as Section 3210.1 of Title 70, unless there | | | 18|is created a duplication in numbering, reads as follows: | | | 19| A. There is hereby created in the State Treasury a revolving | | | 20|fund for the Oklahoma State Regents for Higher Education to be | | | 21|designated the "Workforce Development Revolving Fund". The fund | | | 22|shall be a continuing fund, not subject to fiscal year limitations, | | | 23|and shall consist of all monies received by the State Regents from | | | 24|state appropriations. All monies accruing to the credit of the fund | | | Req. No. 577 Page 1 ___________________________________________________________________________
1|are hereby appropriated and may be budgeted and expended by the | | | 2|State Regents for the purpose of implementing the provisions of | | | 3|subsection C of this section. Expenditures from the fund shall be | | | 4|made upon warrants issued by the State Treasurer against claims | | | 5|filed as prescribed by law with the Director of the Office of | | | 6|Management and Enterprise Services for approval and payment. | | | 7| B. For the fiscal year beginning July 1, 2023, the Legislature | | | 8|shall appropriate Fifty Million Dollars ($50,000,000.00) to the | | | 9|Workforce Development Revolving Fund created pursuant to subsection | | | 10|A of this section. | | | 11| C. The Oklahoma State Regents for Higher Education shall award | | | 12|funds from the Workforce Development Revolving Fund created pursuant | | | 13|to subsection A of this section to institutions within The Oklahoma | | | 14|State System of Higher Education that increase the number of degrees | | | 15|granted to fulfill workforce needs in critical occupation areas. | | | 16|For the purposes of this section "critical occupation areas" are | | | 17|those areas identified by the Executive Director of the Oklahoma | | | 18|Department of Commerce that are in high demand and are projected to | | | 19|have positive future growth. | | | 20| D. 1. One-third of the funds appropriated pursuant to | | | 21|subsection B of this section shall be allocated to institutions | | | 22|within The Oklahoma State System of Higher Education that increase | | | 23|the number of degrees granted in the area of nursing. The increase | | | 24|in the number of degrees shall be calculated based on the number of | | | Req. No. 577 Page 2 ___________________________________________________________________________
1|degrees granted in the area of nursing during the 2020-2021, | | | 2|2021-2022, and 2022-2023 academic years. | | | 3| 2. One-third of the funds appropriated pursuant to subsection B | | | 4|of this section shall be allocated to institutions within The | | | 5|Oklahoma State System of Higher Education that increase the number | | | 6|of degrees granted in the area of engineering. The increase in the | | | 7|number of degrees shall be calculated based on the number of degrees | | | 8|granted in the area of engineering during the 2020-2021, 2021-2022, | | | 9|and 2022-2023 academic years. | | | 10| 3. One-third of the funds appropriated pursuant to subsection B | | | 11|of this section shall be allocated to institutions within The | | | 12|Oklahoma State System of Higher Education that increase the number | | | 13|of degrees granted in the area of teaching. The increase in the | | | 14|number of degrees shall be calculated based on the number of degrees | | | 15|granted in the area of teaching during the 2020-2021, 2021-2022, and | | | 16|2022-2023 academic years. | | | 17| E. 1. Beginning in the 2023-2024 academic year, the Oklahoma | | | 18|State Regents for Higher Education shall award from the Workforce | | | 19|Development Revolving Fund created pursuant to subsection A of this | | | 20|section an amount equal to Ten Thousand Dollars ($10,000.00) for | | | 21|each degree in the areas of nursing, engineering, and teaching | | | 22|granted by an institution within The Oklahoma State System of Higher | | | 23|Education above the average number of degrees granted by each | | | 24| | | | Req. No. 577 Page 3 ___________________________________________________________________________
1|institution in the 2020-2021, 2021-2022, and 2022-2023 academic | | | 2|years. | | | 3| 2. Beginning in the 2025-2026 academic year and biennially | | | 4|thereafter, the Oklahoma State Regents for Higher Education shall | | | 5|recalculate the average number of degrees granted by each | | | 6|institution in the areas of nursing, engineering, and teaching for | | | 7|the previous three academic years, which shall be used as the basis | | | 8|for the granting of awards. | | | 9| SECTION 2. This act shall become effective July 1, 2023. | | | 10| SECTION 3. It being immediately necessary for the preservation | | | 11|of the public peace, health, or safety, an emergency is hereby | | | 12|declared to exist, by reason whereof this act shall take effect and | | | 13|be in full force from and after its passage and approval. | | | 14| | | | 15| 59-1-577 EB 1/17/2023 7:06:01 PM | | | 16| | | | 17| | | | 18| | | | 19| | | | 20| | | | 21| | | | 22| | | | 23| | | | 24| | | | Req. No. 577 Page 4