Contracts; Service Warranty Act; administrative fees; modifying fee amount; effective date.

Updated effective dates for fee changes from 2026-2029 to a new schedule starting January 1, 2026, with reductions in the percentage-based fee occurring in 2027 and 2028.

Changed the administrative fee structure from a fixed percentage to a declining percentage (1.75% in 2026, 1.00% in 2027) alongside adjusted flat-fee options ($3,150 in 2026, $3,350 in 2027, and $3,700 in 2028).

Added specific requirements for annual financial statements, mandating they be either audited per statutory accounting principles or verified under oath by two officers depending on the applicant's insurance coverage.

Established a daily fine of up to $100 for each day an association fails to file its financial statement within the required timeframe.

Clarified that provider fees are exempt from premium tax but subject to the new administrative fee, with specific eligibility criteria for entities to choose the flat-fee option.

The effective date for the first fee reduction (from 2% to 1.75%) was moved from January 1, 2026, to January 1, 2027.

The effective date for the second fee reduction (from 1.75% to 1.00%) was moved from January 1, 2027, to January 1, 2028.

The effective date for the final flat fee structure ($3,700) was moved from January 1, 2028, to January 1, 2029.

The flat annual administrative fee amount for eligible insurers and entities was increased from $3,150 to $3,350 to account for the delayed implementation of the percentage-based fee reduction.

The administrative fee percentage was changed from a flat 2% to a phased schedule: 1.75% starting January 1, 2026, and 1% starting January 1, 2028.

The optional annual flat fee for eligible entities was increased from $3,000 to $3,700 to align with the lower percentage rates.

The fee reduction schedule was adjusted to begin on January 1, 2026, with the final rate taking effect on January 1, 2028.

The bill title and section headers were updated to reflect the new co-sponsors and remove the 'Proposed Oversight' designation.

The effective date for the new administrative fee structure was advanced from January 1, 2027, to January 1, 2026.

The effective date for the final flat fee structure was advanced from January 1, 2029, to January 1, 2028.

The specific statute being amended was updated to reference the 2024 legislative session instead of the 2025 session.

All signatures, dates, and official stamps from the enrolled version (House, Senate, Governor, Secretary of State) were removed.

Committee amendment headers, speaker/chair names, and committee substitute metadata were added.

The fee schedule for 2028 was simplified to a single flat fee of $3,700 for all entities, removing the distinction between percent-based and flat fee options that existed in previous years.

The effective date for the first fee increase was moved forward by one year, shifting from January 1, 2026, to January 1, 2027.

The annual administrative fee option for eligible entities increased from $3,000 to $3,150, effective January 1, 2027.

A new provision was added to increase the administrative fee to a flat $3,700 for all entities starting January 1, 2029.

A citation error was corrected, changing the reference year from 2024 to 2025.

The document status was updated from 'Engrossed' to 'Enrolled', indicating the final version approved by the Governor.

The effective date for the new administrative fee was delayed from January 1, 2026, to January 1, 2027.

Future fee increase dates were pushed back by one year, moving from 2027 to 2028, and from 2028 to 2029.

A new provision was added stating that the administrative fee set forth in the bill is exempt from a specific state tax on fees.

The effective dates for the new administrative fee structure were delayed by one year each, shifting from 2026 to 2027, 2027 to 2028, and 2028 to 2029.

A new provision was added stating that the administrative fees collected under this act are not subject to a specific state tax on fees found in Title 36 of the Oklahoma Statutes.

The language regarding the option to pay a flat annual fee in lieu of a percentage-based fee was clarified to specify that this option is available to entities with existing contractual liability insurance as of March 31, 2009.