Oklahoma Administrative Code Title 723 - Tobacco Settlement Endowment Trust Fund without any web link
Here’s an overview of the Oklahoma Administrative Code (OAC) Title 723 – Tobacco Settlement Endowment Trust Fund, reflecting its structure and key provisions as codified through March 2025:
📘 OAC Title 723 – Tobacco Settlement Endowment Trust Fund
Chapter 1 – Organization & Procedure (§ 723:1‑1‑1 through § 723:1‑1‑8)
Purpose
Establishes the organizational and procedural framework for the Trust and public access to its operations (oklahoma.gov).
Definitions
Clarifies key terms such as “Act” (i.e., the Tobacco Settlement Endowment Trust Fund Act under Title 62), “Agency,” “Directors” (seven-member governing board), “Investors” (five-member investment board), “Endowment Trust,” TSET, “Applicant,” “Entity,” and related terminology (oklahoma.gov).
Trust Structure & Governance
The Trust was established by a 2000 constitutional amendment; the agency by 2002.
Investors and Directors are required to meet publicly at least quarterly (oklahoma.gov).
Public Records & FOIA
Government records are accessible under Oklahoma’s Open Records Act.
Copy fees and search-cost provisions for commercial requests are specified (oklahoma.gov).
Application Procedures for Funding
Notices of Requests for Proposals (RFPs), unsolicited proposals, and sponsorship applications must be published ahead of deadlines (30–90 days) (en.wikipedia.org, oklahoma.gov).
Petitions for Rulemaking
Allows any person to petition for rule changes, defining submission criteria and timelines (oklahoma.gov).
Official Decisions & Declaratory Rulings
Requires formal written decisions; directors handle declaratory rulings within 30 days (oklahoma.gov).
Severability
Any invalid provision does not nullify the rest of the chapter (oklahoma.gov).
Chapter 10 – Grants & Programs (§ 723:10‑1‑1 through § 723:10‑1‑10)
Purpose
Governs procedures for funding health-related programs supported by Trust earnings (oklahoma.gov).
Definitions
Reiterates key terms—Grantee, Agency, Advisory panels, etc.—related to the grants process (oklahoma.gov).
Advisory Panels
May be established to help design program parameters; Directors retain final authority (
Proposal Review Panels
Assist in evaluating applications; final decisions rest with the Directors
Application Process
Applications are submitted free of charge by eligible entities.
Submissions must be complete and timely—late or incomplete ones are rejected (
Award Process
Submission does not guarantee awards.
Directors may use evaluation panels or agency staff and make final determinations.
Confidentiality maintained until decisions are made; applicants are notified in writing
Grant Instruments
Approved funding is formalized via professional service contracts or cooperative agreements
Performance Evaluations
Grantee compliance and outcomes are assessed by agency staff or contractors; results are reported to Directors
Grant Cancellation or Withholding Funds
In cases of default, grantees are notified and allowed to cure; permanent cancellation rests with Directors
Severability
Invalid provisions do not affect the remainder of the chapter
✅ Authority & Updates
The Trust operates under the authority of 62 O.S. § 2301 et seq., with investment authority in § 2309(A)(3) and (D)(3) These rules were codified effective June 25, 2010, and are current through at least March 17, 2025
🔎 In Context
TSET is designed to use only the investment earnings—not the settlement corpus—for health programs. Its structure—separate Boards of Investors and Directors—ensures check
RELATED Blog
0 comments