Okla. Stat. tit. 70, § 70-6-190.2: Teacher Empowerment Revolving Fund

A. There is hereby created in the State Treasury a revolving

fund for the State Department of Education to be designated the

“Teacher Empowerment Revolving Fund”. The revolving fund shall be a

continuing fund, without legislative appropriation, not subject to

fiscal year limitations, and shall be under the control and

management of the State Department of Education. Expenditures from

the Teacher Empowerment Revolving Fund shall be budgeted and

expended as provided for in subsection B of this section.

B. The State Department of Education shall utilize the funds

for the program outlined in Section 6-190 of this title. Funding

shall be allocated to school districts to provide the stipend

amounts indicated for advanced, lead, and master certificates as

provided for in subsection I of Section 6-190 of this title on a

first-come, first-served basis until the cash is exhausted for the

school year.