HB 3126 Oklahoma House · 2026 Regular Session

Commissioners of the Land Office; Oklahoma State Regents for Higher Education; Concurrent Enrollment Revolving Fund; State Aid Formula; effective date; emergency.

HB 3126 redirects funds from Oklahoma's oil and gas lease revenues to create a dedicated revolving fund for concurrent enrollment programs, which allow high school students to take college courses. It requires the Commissioners of the Land Office to transfer bonus and delay rental income from oil and gas leases into a new "Concurrent Enrollment Revolving Fund," which can be invested to generate interest and provide ongoing funding. The Oklahoma State Regents for Higher Education must use these funds exclusively for concurrent enrollment, with no other purposes allowed. This ensures a stable, continuing source of support for high school students accessing college-level coursework.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2026

Committee Review

Floor Vote

Governor

Introduced Feb 2, 2026 Last action Feb 9, 2026

Maddy AI version diff · 2 comparisons

What changed between versions

Introduced → Proposed Committee Substitute (full committee) 1 · 5 edits

MODERATE

The bill was completely rewritten from scratch by the committee, changing the fund name from 'Concurrent Enrollment Revolving Fund' to 'Concurrent Enrollment Trust Revolving Fund' and replacing the previous five-year rolling average distribution schedule with a new formula allowing up to 5% of the Trust's average market value to be distributed annually. The committee version also updated the codification section to reference a different statute number and adjusted the effective date to July 1, 2026.

Scope change

The bill's scope expanded to create a formal 'Trust' structure rather than just a 'Fund', and the distribution mechanism changed from a rolling average of past income to a percentage-based calculation of the Trust's total market value.

DEFINITION

The fund name was changed from 'Concurrent Enrollment Revolving Fund' to 'Concurrent Enrollment Trust Revolving Fund' and is now formally designated as a 'Trust' rather than just a 'Fund'.

FISCAL

The distribution formula was changed from a five-year rolling average of bonus and delay rental income to allowing the Land Office to distribute up to 5% of the Trust's average market value calculated over a five-year rolling average.

REQUIREMENT

New reporting requirements were added requiring annual investment performance reports to be submitted to the Governor, Senate President Pro Tempore, and House Speaker.

TECHNICAL

The codification section was updated to reference Section 18-500 of Title 70 instead of the previous reference, and the bill number in the footer was updated from 15270 to 16525.

TIMELINE

The effective date was changed to July 1, 2026, replacing the previous unspecified effective date in the introduced version.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 9, 2026

Lower · Passed

Recommendation to the full committee; Do Pass Appropriations and Budget Natural Resources Subcommittee

lower

Feb 3, 2026

Committee

Referred to Appropriations and Budget Natural Resources Subcommittee

lower

Feb 2, 2026

Introduced

First Reading

lower

2 primary · 0 co-sponsors