ENGROSSED SENATE
BILL NO. 713	By:	Myers and Jolley of the Senate

			and

		Sears and Martin (Scott) of the House

[ Oklahoma Board of Private Vocational Schools Revolving Fund - deleting requirement - effective date ]

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     AMENDATORY     Section 4, Chapter 172, O.S.L. 2004, as amended by Section 1, Chapter 399, O.S.L. 2004 (70 O.S. Supp. 2010, Section 21-116), is amended to read as follows:
Section 21-116.  A.  There is hereby created in the State Treasury a revolving fund for the Oklahoma Board of Private Vocational Schools to be designated the “Oklahoma Board of Private Vocational Schools Revolving Fund”.  The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received by the Oklahoma Board of Private Vocational Schools from all fees and penalties collected by the Board pursuant to Sections 21-103, 21-106, and 21-111 of Title 70 of the Oklahoma Statutes or rules promulgated and any other funds obtained or received by the Board.  All monies in the fund shall be used exclusively for the purpose of operations and functions of the Oklahoma Board of Private Vocational Schools.  All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the Oklahoma Board of Private Vocational Schools as authorized by the Legislature.  Expenditures from the fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of State Finance for approval and payment.
B.  Any balance remaining to the credit of the Private Vocational Student Tuition Recovery Fund which accrued prior to the repeal of the fund shall be transferred to the Oklahoma Board of Private Vocational Schools Revolving Fund created in this section.
SECTION 2.  This act shall become effective November 1, 2011.
Passed the Senate the 14th day of March, 2011.

	
Presiding Officer 	of the Senate

Passed the House of Representatives the ____ day of __________, 2011.

	
Presiding Officer of the House
	of Representatives