ENROLLED SENATE
BILL NO. 1979	By:	Burrage and Ivester of the Senate

			and

		Quinn, Ritze and Sherrer of the House

An Act relating to the J.M. Davis Memorial Commission; amending 53 O.S. 2011, Section 201D, which relates to revolving funds; providing for deposits into specified revolving fund from certain endowment fund; creating J.M. Davis Arms and Historical Museum Endowment Fund; providing for contents of fund; requiring investment by State Treasurer; requiring deposit of earnings to specified revolving fund; providing for codification; and providing an effective date.

SUBJECT:  J.M. Davis Memorial Commission

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:

SECTION 1.     AMENDATORY     53 O.S. 2011, Section 201D, is amended to read as follows:

Section 201D.  A.  There is hereby created in the State Treasury a revolving fund to be designated as the J.M. Davis Memorial Commission Revolving Fund, which shall consist of all money received by the J.M. Davis Memorial Commission from rents of lands and buildings, admission fees, the sale of souvenirs and curios, the sale of concessions or leasing of concessions at the J.M. Davis Memorial site, annual deposits of earnings from the J.M. Davis Arms and Historical Museum Endowment Fund and receipt of gifts and devises for the benefit of the fund or for the benefit of the J.M. Davis Gun Collection, from whatever source derived.

B.  The J.M. Davis Memorial Commission Revolving Fund may be used for the operation of a souvenir and curio shop and for other authorized costs of operation of the J.M. Davis Memorial Commission.  The Fund shall be under the control and management of the J.M. Davis Memorial Commission, and disbursements therefrom shall be made on claims approved by the Commission.  The State Budget Director shall draw warrants payable by the State Treasurer in payment of all claims against the J.M. Davis Memorial Commission Revolving Fund herein created, after the claims have been audited and approved for payment as provided by law.

SECTION 2.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 201H of Title 53, unless there is created a duplication in numbering, reads as follows:

There is hereby created in the State Treasury a fund for the J.M. Davis Memorial Commission to be designated the "J.M. Davis Arms and Historical Museum Endowment Fund".  The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received through donations, appropriations or interest earned by investment of monies in the fund.  The fund shall be invested by the State Treasurer in accordance with Section 89.2 of Title 62 of the Oklahoma Statutes.  Only earnings from the fund, including any interest, dividends or realized capital gains from investment of monies in the fund shall be deposited annually to the credit of the J. M. Davis Memorial Commission Revolving Fund, pursuant to Section 201D of Title 53 of the Oklahoma Statutes.

SECTION 3.  This act shall become effective November 1, 2014.

Passed the Senate the 6th day of March, 2014.

	
	Presiding Officer of the Senate

Passed the House of Representatives the 15th day of April, 2014.

	
	Presiding Officer of the House
	of Representatives

OFFICE OF THE GOVERNOR
Received by the Office of the Governor this ____________________ day of ___________________, 20_______, at _______ o'clock _______ M.
By: _________________________________
Approved by the Governor of the State of Oklahoma this _________ day of ___________________, 20_______, at _______ o'clock _______ M.

	_________________________________
	Governor of the State of Oklahoma

OFFICE OF THE SECRETARY OF STATE
Received by the Office of the Secretary of State this __________ day of __________________, 20 _______, at _______ o'clock _______ M.
By: _________________________________