House Passes Higher Ed Bill

A $500 million capital bond package for higher education took a major step forward Thursday when the Oklahoma House of Representatives passed House Bill 1191.

The bill calls for a $475 million bond issues for all of the state’s public colleges and universities, along with $25 million to start a bonds bank for regional universities and two-year colleges. The house passed it 80-19, and the Senate is expected to approve the bill within the next few days.

Rep. Thad Balkman, R-Norman, called its passage a “win, win win for the OU community.” The University of Oklahoma stands to receive $117 million for construction and renovations to over 100 classrooms and facilities like Rhyne Hall and Gould Hall, as well as the new chemistry and biochemistry complex and engineering and technology facilities,” Bulkman said.

“Norman’s economy wins from the increase in jobs related to construction of these facilities,” he added. “And taxpayers win because of the reforms included in the bill calling for variable financing for bond debt and the establishment of a permanent financing structure for future capital needs.”

The Senate last month unanimously passed a $500 million bond issue authored y Senate Pro Tempore Cal Hobson and backed by Gov. Brad Henry and al college presidents. But the house’s Republican majority balked over funding and other concerns.

House Speaker Todd Hiett, R-Kellyville, countered with 412 million for a capital bonds issue, $50 for a bond bank and $38 million to repay money loaned for the OU weather center. Higher education officials rejected that idea, saying it would force cuts on their capital projects list.

Heitt, Hobson and Henry earlier this week announced the deal that is HB 1191, which essentially is a revisions Heitt made to his initial proposal. The Democratic governor and Senate leader gave it their blessing because $500 million would be used for capital bonds, whereas House Republicans got the bond bank and backup funding source they wanted.

“This plan was developed over a period of six weeks by the governor, leadership of both legislative bodies, the state regents and college presidents,” said Rep. Randy Terrill, R-Moore. “It brings together the best parts of both original bills. This is a win for everyone involved, especially the young people of the state of Oklahoma.”

Rep. Doug Miller, R-Norman said, “This is a major investment in the future of our state, and as an OU graduate, I am very pleased to support this funding.”