Governor Signs General Appropriations For Fy’20, $200 Million For State Savings.
Gov. Kevin Stitt, joined by House and Senate Republican leadership, today signed into law HB 2765, the general appropriations bill of $8.1 billion for Fiscal Year 2020 (FY’20), and SB 1076, legislation to setting aside $200 million for the state’s savings.
The FY’20 budget received overwhelming support in the House and Senate, breaking records with the state’s investments in core services while also putting Oklahoma on the path to saving more than $1 billion by the end of FY’20, the largest savings account in state history.
“Congratulations to the Legislature and leadership for their hard work this session. I am proud of the fiscally responsible budget we have signed into law,” said Gov. Stitt. “For the first time in state history, we will increase Oklahoma’s savings account, in order to protect core services in the future, without the law forcing it. For the first time in state history, we will give Oklahoma teachers a pay raise for a second year in a row. For the first time in state history, we will fully fund the Reading Sufficiency Act while also putting an additional $74 million into the funding formula for local classroom needs. For the first time in state history, we will fully fund our roads and bridges, and we will also make the largest deposit into the Quick Action closing fund, helping Oklahoma compete for new jobs. We will move the needle in criminal justice reform by investing in drug courts and diversion programs, and we will reform District Attorneys’ funding model so they are not reliant on high fines, fees and court costs that have created a debtor’s prison. We will prioritize funding for oversight, transparency and audits as well as funding to modernize the delivery of state services, making it customer-focused and cost efficient.”
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