Oklahoma Capitol Improvement Authority; public finance; investments; Legacy Capital Fund; effective date; emergency.

HB 4308 creates the "Legacy Capital Financing Fund" within the Oklahoma Capitol Improvement Authority to manage capital projects for state buildings and infrastructure. It requires all monies in the fund to be invested exclusively in U.S. or Oklahoma government securities and mandates that distributions from the fund must be repaid over 20 years. The bill primarily updates administrative procedures for the Authority, clarifying how funds are invested, managed, and returned for Capitol-related projects, without changing tax rates or creating new obligations. This procedural update affects the state agency responsible for capital improvements to Oklahoma's Capitol complex and associated infrastructure.