HB 1170: Public finance; Public Finance Protection Act; terms; standard of care; nonpecuniary factors; vote; authority; proxy votes; Attorney General; immunity; indemnification; severability; codification; effective date; emergency. - Oklahoma

House Committee Substitute → Floor (House) · 4 edits

MODERATE

The bill text was reformatted from a House Committee Substitute version to a Floor version, with the primary substantive change being the renumbering of sections and the addition of co-sponsorship information for a Senate member. The core legislative text regarding the Oklahoma Public Finance Protection Act remains substantively unchanged, though the codification section number was adjusted from 9102 to 9101 in the floor version.

Scope change

No substantive change to the bill's scope or applicability; the changes are primarily formatting and structural reorganization for floor consideration.

TECHNICAL

The document header was updated from 'House Committee Substitute' to 'House of Representatives - Floor Version' to reflect the bill's current stage in the legislative process.

A Senate co-sponsor (Daniels) was added to the bill authorship line, indicating Senate committee approval and collaboration.

Section numbering was reorganized throughout the document, with the primary substantive section renumbered from 9102 to 9101 in the Oklahoma Statutes codification reference.

Page footers containing 'Req. No. 13159' were removed and replaced with new floor version page headers and amendment notation instructions.

Proposed Policy Committee Substitute 1 → House Committee Substitute · 3 edits

MINOR

The bill was amended to remove the 'Proposed Policy Committee Substitute' designation and update the document title to 'Committee Substitute,' indicating it has moved through the legislative process. The substantive policy content regarding the Oklahoma Public Finance Protection Act remains largely unchanged, with only minor formatting adjustments to section numbering and page references.

Scope change

No substantive scope change; the bill's applicability to pension benefit plans and fiduciary duties remains the same.

TECHNICAL

Removed 'Proposed Policy Committee Substitute' title and updated to 'Committee Substitute' to reflect legislative progression.

Adjusted section numbering and page references from 'Req. No. 12392' to 'Req. No. 13159' for administrative tracking.

Reformatted section headers and spacing for consistency with House Committee Substitute standards.

Proposed Committee Substitute (full committee) 1 → Proposed Policy Committee Substitute 1 · 3 edits

MINOR

The bill text was updated from a full committee substitute to a policy committee substitute version, with minor formatting adjustments and a change to the requirement number from 13011 to 12392. No substantive policy changes were made to the bill's content.

TECHNICAL

Header changed from 'PROPOSED COMMITTEE SUBSTITUTE' to 'PROPOSED POLICY COMMITTEE SUBSTITUTE' to reflect the bill's current legislative stage.

Requirement number changed from 13011 to 12392 in the footer of pages 1, 2, and 3.

Minor formatting adjustments to line spacing and indentation throughout the document.

Introduced → Proposed Committee Substitute (full committee) 1 · 3 edits

MINOR

This bill was amended from its original introduced version to a committee substitute version. The substantive policy content remains largely the same, but the formatting was updated to reflect committee amendments. The text was reorganized with new page numbers and section headers, and some minor wording adjustments were made to align with committee recommendations.

Scope change

No substantive change to the bill's scope or applicability; the amendment primarily addresses formatting and presentation rather than policy content.

TECHNICAL

Page headers and formatting were updated to reflect the committee substitute version with new page numbers and section numbering.

DEFINITION

Minor wording adjustments to definitions of 'Fiduciary', 'Material', 'Nonpecuniary', 'Pecuniary factor', and 'Pension benefit plan' to align with committee preferences.

REQUIREMENT

Section 3 regarding fiduciary duties was slightly reworded to clarify that duties must be discharged solely based on pecuniary factors and applicable state law requirements.

Public finance; Public Finance Protection Act; terms; standard of care; nonpecuniary factors; vote; authority; proxy votes; Attorney General; immunity; indemnification; severability; codification; effective date; emergency.

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