Budget & Taxes (Revenue)

HB 2766 is the Oklahoma state budget bill for fiscal year 2026, allocating over $1.65 billion from the General Revenue Fund to support public schools. It directs specific funding for teacher salaries, textbooks, health benefits for staff, school administration, and the School Consolidation Assistance Fund, drawing from multiple sources including the Education Lottery Trust Fund and Mineral Leasing Fund. The bill was enacted without the Governor's signature on May 29, 2025, and directly affects all Oklahoma public schools and their students through these state-funded resources.

SB 1132 allocates $100,000 from unappropriated general revenue funds to the Oklahoma State Regents for Higher Education for the fiscal year ending June 30, 2026. The funding is intended to support the Regents' existing duties under state law, without creating new programs or services. The bill declares an emergency to allow immediate implementation upon approval, as stated in Section 2. This is a routine budgetary appropriation, not a policy change affecting students, institutions, or other stakeholders directly. The bill does not alter educational standards, tuition, or institutional authority.

SB 307 creates the Oklahoma Teachers Legacy Fund in the state treasury, funded by surplus General Revenue Fund monies from 2023 ($563.7 million) and 2024 ($759.4 million). The fund invests principal following state retirement fund guidelines, with income accruing to the fund. When the fund's value grows by $100 million or more above its prior year balance, the excess automatically transfers to boost teacher salaries starting January 1 each year. The fund must maintain sufficient liquidity to enable these transfers, with the bill taking effect July 1, 2025.