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" within the Oklahoma State Regents for Higher Education. It appropriates $418,986,272 from the General Revenue Fund for fiscal year 2026 to provide equitable funding distribution to Oklahoma's 1890 land-grant institutions. The fund is structured as a continuing account, not subject to annual budget limits, with expenditures authorized by the Regents for this specific purpose. The bill takes effect July 1, 2025, and declares an emergency to expedite implementation.