Oklahoma State Regents for Higher Education; creating revolving fund; making an appropriation to revolving fund. Effective date. Emergency.

SB 177 creates the "Morrill Act of 1890 Revolving Fund" under Oklahoma’s State Regents for Higher Education to provide stable, long-term funding for the state’s land-grant institutions established under the 1890 Morrill Act (like Langston University). It appropriates $418,986,272 from the General Revenue Fund for fiscal year 2026 to ensure equitable distribution of funds to these institutions without annual budgeting constraints. The fund operates as a continuing pool, allowing the Regents to manage and distribute resources directly to eligible institutions via state treasurer warrants. This bill directly affects Oklahoma’s 1890 land-grant institutions and takes effect July 1, 2025.