Public finance; authorizing State Treasurer to implement the Invest In Oklahoma program; authorizing State Treasurer to invest funds into the Invest In Oklahoma program under certain conditions. Effective date.

The entire bill text was replaced with new language that corrects formatting issues and aligns the bill with proper legislative structure.

Clarified that the State Treasurer may retain qualified investment advisors or fiduciary managers to assist in selecting investment funds and direct investments in Oklahoma companies.

Updated the list of factors for evaluating investment funds to include direct investments in Oklahoma companies alongside private equity, venture capital, and growth funds.

Added language requiring the Treasurer to maintain a list of available private equity, venture capital, growth funds, and direct investments operating in Oklahoma.

Corrected the section header for Section 2403 to properly identify the State Treasurer's role in promulgating rules for the Invest In Oklahoma Act.

The entire bill text was replaced rather than amended line-by-line, indicating a complete rewrite by the subcommittee.

Header information was updated to reflect the committee substitute version with new dates and sponsor information.

Some phrasing and formatting inconsistencies were corrected, such as duplicate words and improved sentence structure in several sections.

Page numbering and formatting markers were updated to reflect the new document structure.

Removed the Oklahoma School Districts Carryover Investment Fund provisions that allowed school districts to invest carryover funds in individual accounts with the State Treasurer.

Added the 'Invest In Oklahoma' program allowing public entities to invest up to 5% of their rolling three-year assets under management in Oklahoma-based private equity, venture capital, and growth funds.

Created a new Cash Management and Investment Oversight Commission with five members to oversee investment activities and ensure compliance with the program.

Changed eligible entities from school districts to include public retirement systems, the Board of Investors of the Tobacco Settlement Endowment Trust Fund, and other state public entities.

Added requirements for OCAST to select qualified investment advisors and maintain lists of available investment funds participating in the program.

Replaced school district investment definitions with new definitions for private equity funds, venture capital funds, and growth funds that make substantial investments in Oklahoma.