STATE OF OKLAHOMA

1st Session of the 53rd Legislature (2011)

SENATE BILL 811	By:	Jolley

AS INTRODUCED

An Act relating to the Grand River Dam Authority; stating legislative intent to require the assets of the Grand River Dam Authority to be managed by the Oklahoma Public Employees Retirement System by certain date; requiring the Manager of the Grand River Dam Authority and the Executive Director of the Oklahoma Public Employees Retirement System to make report by certain date; stating distribution; stating requirements for report; providing for noncodification; and declaring an emergency.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     NEW LAW     A new section of law not to be codified in the Oklahoma Statutes reads as follows:
It is the intent of the Legislature that all assets and the management of the Grand River Dam Authority be transferred to the Oklahoma Public Employees Retirement System within three (3) years from the effective date of this act.  The General Manager of the Grand River Dam Authority and the Executive Director of the Oklahoma Public Employees Retirement System shall jointly make a report to the Governor, the President Pro Tempore of the Senate and the Speaker of the House, outlining a plan to fulfill the requirements of this act.  The report shall include a plan outlining the details of the transfer, including any legislative recommendations necessary to fulfill the requirements of this act.  The report shall be completed no later than November 1, 2011.
SECTION 2.  It being immediately necessary for the preservation of the public peace, health and safety, an emergency is hereby declared to exist, by reason whereof this act shall take effect and be in full force from and after its passage and approval.

53-1-677	ARE	1/20/2011 11:16:43 AM