On May 5, OKL LEG enacted a bill on education infrastructure loans.
OKL LEG enacted HB 1590, creating Oklahoma Education Infrastructure Linked Deposit Program Act to provide low-interest infrastructure loans to educational entities.
Document dated May 5, 2026, was added on Aug. 6, 2026, due to editorial backfill.
Bill Provisions
In the bill, under the program, the State Treasurer is responsible for disseminating information about the program, administering it, and issuing guidelines.
The program uses a linked-deposit structure where participating lenders pass on savings at a reduced rate to eligible education entities through below-market loans.
Applicants must submit loan packages to the State Treasurer for review and approval.
The State Treasurer reviews lender and education entity eligibility and compliance.
Prescribes specific procedures for application submissions, sets restrictions on how loan proceeds may be used, prohibits conflicts of interest, prohibits false statements.
Sets loan limits, allows renewals, and requires compliance certificates from lenders.
The State Treasurer must submit an annual report on the program, and participating institutions are provided immunity from liability under certain circumstances.
Legislative History
On Feb. 3, 2025, bill introduced in House; on Mar. 12, 2026, bill passed in the House.
On Mar. 12, 2026, bill introduced in Senate; on Apr. 29. 2026, bill passed in Senate.
On Apr. 29. 2026, bill sent to governor; on May 5, 2026, bill approved by governor.
