Oklahoma Treasurer would direct state investments and oversight

The State Treasurer would run the Invest In Oklahoma program and select eligible funds with help from investment advisers or fiduciary managers. The program would cover private equity, venture capital, and growth funds based in Oklahoma or making substantial investments in the state. The Treasurer would consider factors such as investment performance, fees, and the share of capital invested in Oklahoma. The text sets November 1, 2025, as the effective date, if the bill becomes law.

Named public funds could invest up to 5% of their rolling three-year assets through the program. The listed entities include state retirement systems, the Tobacco Settlement Endowment Trust Fund, and the Commissioners of the Land Office. The entities are encouraged to invest but are not required to do so. The text sets November 1, 2025, as the effective date, if the bill becomes law.

The oversight commission would review investment reports and send the State Treasurer written notice of concerns about possible violations. The review concerns the State Treasurer's investment of state funds. The commission would identify events, transactions, or trends it believes may violate law or public policy concerning state investments. The text sets November 1, 2025, as the effective date, if the bill becomes law.

The State Treasurer would prepare investment performance reports for state oversight officials. The reports would cover investment performance, strategies, and related fees and expenses. The text refers to both monthly and quarterly reports, so it is unclear how often the reports would be due. The annual report would be due within 90 days after the fiscal year ends. The text sets November 1, 2025, as the effective date, if the bill becomes law.