Oklahoma House Bill HB3337

Oklahoma 2026 Regular Session

• Introduced: 2/2/26
• Refer: 2/3/26

Caption

Public finance; State Treasurer; fees; apportionment; effective date; emergency.

Summary

HB3337 amends two sections of Oklahoma law governing programs administered by the State Treasurer. First, it updates the fee schedule the Treasurer may charge for certain services, including returned checks or electronic debits, rejected warrant items, stop-payment processing, and management of the state blended portfolio. The bill increases the maximum annual fee for managing the blended portfolio from 2.5 basis points to 5 basis points, effective July 1, 2026. Second, the bill revises the securities lending program statute. It keeps the Treasurer’s authority to run a securities lending program, but clarifies how income is handled: program income, after fees, goes to the Securities Lending and Custodial Fee Revolving Fund, while excess income beyond administrative and banking costs is deposited into the General Revenue Fund. The bill also continues the requirement that loaned securities be fully collateralized at 100% of market value and preserves the ability of state retirement systems to operate their own securities lending programs.

Impact

The bill would directly affect the State Treasurer’s office by increasing the allowable fee for managing the state blended portfolio and by adjusting the statutory framework for securities lending revenues and the related revolving fund. It would also affect state agencies that use Treasurer-managed investment services, as well as the state’s general revenue and treasury fund accounting by changing how securities lending proceeds are apportioned. The measure amends 62 O.S. 2021, Sections 89.6 and 90, and includes an emergency clause plus an effective date of July 1, 2026.

Sentiment

Based on the bill text and available legislative context, the measure appears administrative and fiscally oriented rather than controversial in policy substance. No committee transcript or recorded votes were provided, and the bill was referred to the Appropriations and Budget Finance Subcommittee, suggesting it was being considered as a budget/finance adjustment. The overall tone of the proposal is neutral to supportive of updating Treasurer fee authority and fund handling rules.

Contention

The main potential point of contention is the increase in the State Treasurer’s portfolio management fee from 2.5 to 5 basis points, which could be viewed as a higher cost to participating funds or agencies. Another possible issue is the redirection of securities lending income after expenses into the General Revenue Fund, which may raise questions about whether those proceeds should instead remain within the Treasurer’s program or related funds. No explicit opposition or debate is included in the available materials, so these concerns are inferred from the bill’s fiscal changes rather than documented committee disagreement.