SB 1124 Oklahoma Senate · 2025 Regular Session

Sinking funds; requiring levy sufficient for timely redemption; prohibiting issuance for certain period if redeemed below par. Effective date.

This bill requires Oklahoma school districts (excluding technology centers) to set property tax rates high enough to redeem bonds on schedule. If a bond is redeemed early below its face value, the district must reduce the tax rate to zero for at least one full tax year and cannot issue new bonds for the same purpose for one year. The State Auditor enforces these rules, and noncompliant districts must transfer 10% of state aid to an education fund. The law aims to ensure responsible bond management and prevent premature redemption without fiscal adjustments.

Issues: ✓ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2025

Committee Review

Floor Vote

Governor

Introduced Feb 3, 2025 Last action Feb 20, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

Committee Substitute → Floor (Senate) · 3 edits

MINOR

The bill was revised from a Committee Substitute version to a Senate Floor version, adding a new sponsor (Hamilton) and updating the title to reflect the full legislative session. The substantive text of the bill remains largely unchanged, with only minor formatting and page numbering adjustments between the two versions.

TECHNICAL

Added a second sponsor (Hamilton) to the bill alongside Sacchieri.

Changed the header from 'Committee Substitute' to 'Senate Floor Version' with updated date formatting.

Adjusted page headers and footers to reflect the Senate Floor version with consistent formatting throughout the document.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 17, 2025

Upper · Passed

Reported Do Pass, amended by committee substitute Revenue and Taxation committee; CR filed

upper

Feb 3, 2025

Introduced

First Reading

upper

1 primary · 0 co-sponsors