{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-34.200-1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-34.200-1","heading":"Debt affordability study","body":"A. The State Treasurer in cooperation with the Office of\n\nManagement and Enterprise Services shall produce a written debt\n\naffordability study (study) to be presented to the Legislature and\n\nthe Governor.\n\nB. The study shall be used to determine Oklahoma's debt\n\nposition relative to its benchmark debt ratio of debt service as a\n\npercentage of revenues. The study shall incorporate information\n\navailable in other sources, such as the Annual Bonded Indebtedness\n\nReport produced by the State Treasurer, into an analysis of\n\nOklahoma's debt position.\n\nC. The study shall include the net tax-supported and net\n\nrevenue-supported debt of this state for the most recently concluded\n\nfiscal year. It shall also include the debt for the most recently\n\nconcluded fiscal year of state agencies and state-beneficiary public\n\ntrusts which are authorized to issue debt.\n\nD. The study shall include the following:\n\n1. Projections of debt service, future debt issuance, and debt\n\nto capacity, such as debt service as a percentage of revenues. Each\n\nprojection shall extend at least five (5) years from the study's\n\nfiscal year of publication;\n\n2. A discussion of Oklahoma's unfunded pension liabilities and\n\nthe impact of these liabilities on the state's ability to borrow and\n\ncost of debt;\n\n3. An identification and calculation of relevant metrics\n\nincluding, but not limited to, debt service as a percentage of\n\nrevenues, total debt as a percentage of state personal income, and\n\ntotal debt per capita;\n\n4. A comparison of debt metrics to a select group of at least\n\nten other states so that Oklahoma may be able to measure and\n\ncontextualize its debt relative to other states;\n\n5. A sensitivity analysis to understand the effects of\n\nuncertain conditions. This sensitivity analysis may include\n\nanalysis on the impact of debt ratios of revenues being above or\n\nbelow expectations or interest rates increasing or decreasing from\n\npositions at time of publication; and\n\n6. An estimate of available debt capacity the state may issue\n\nover the next five (5) years without causing the benchmark debt\n\nratio of debt service as a percentage of revenues to exceed five\n\npercent (5%). This estimate is based on the state's net tax-\n\nsupported debt and the debt of the relevant state units and\n\nagencies.\n\nE. In preparing any authorization of new debt, the debt-issuing\n\nentity, the Legislature, and the Governor shall take the study's\n\nrecommendations and estimates into consideration. In addition, the\n\nstudy's recommendations and estimates shall be taken into\n\nconsideration by the Legislature and the Governor during capital\n\nplanning and budgeting processes.\n\nF. The State Treasurer and the Office of Management and\n\nEnterprise Services shall report the results of the study to the\n\nLegislature by transmitting a copy to the Speaker of the House of\n\nRepresentatives, the President Pro Tempore of the State Senate, and\n\nto the Governor on or before January 15 of each year.\n\nG. The study's recommendations and estimates shall be advisory\n\nand not binding.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"95cd7d1163607e90a37ed115351072c9dea1357282899191186da6da66c64f0a","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-34.200","next":"us-ok/okla.-stat.-tit.-62-62-34.202"},"notice":"GroundRules: Original legal text. Not legal advice."}