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Bill

SJR 38

Constitutional amendment; requiring divestment of certain assets from the Tobacco Settlement Endowment Trust Fund and deposit of proceeds into specified fund.

2026 Regular Session Introduced by Scott Fetgatter and 1 co-sponsor

Constitutional amendment requiring Oklahoma to divest Tobacco Settlement Endowment Trust Fund assets and redirect proceeds to a different state fund, subject to voter approval.

Coauthored by Representative Fetgatter (principal House author)
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WeVote Research Nonpartisan
Bill Summary · SJR 38

Legislative bill overview

SJR 38 proposes a constitutional amendment that would require Oklahoma to divest (sell off) certain assets held by the Tobacco Settlement Endowment Trust Fund and redirect the proceeds into a different specified fund. The bill requires voter approval as a constitutional amendment and would fundamentally alter how tobacco settlement money is managed and allocated in the state.

Why is this important

The Tobacco Settlement Endowment Trust Fund represents billions in long-term revenue from the 1998 Master Settlement Agreement between states and tobacco companies. How these funds are deployed affects education, healthcare, and other state services for decades. Changing the fund's structure could shift priorities in state spending and impact the long-term stability of programs that depend on this revenue stream.

Potential points of contention

  • Fund stability concerns: Divesting assets could reduce the endowment's ability to generate consistent, inflation-protected revenue over time, potentially limiting future flexibility for budget planning
  • Competing priorities: Different stakeholders may disagree on whether tobacco settlement funds should prioritize education, healthcare, debt reduction, or other state needs
  • Specificity of language: The bill references "certain assets" and a "specified fund" without providing details in this summary, leaving unclear which assets would be sold and where proceeds would go—critical information for voters and policymakers

Compiled from official sources — confirm details with the bill’s official record.

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