06/19/2026
Legislation creating the Oklahoma Education Infrastructure Linked Deposit Program to help charter schools and nonprofit schools' access affordable financing for construction and facility improvements has been signed into law.
House Bill 1590, authored by Rep. Mark Lepak (R-Claremore) and Sen. Julie Daniels (R-Bartlesville), establishes a new linked deposit program administered by the Oklahoma State Treasurer’s Office.
“This legislation is about helping schools access the resources they need to grow and improve their facilities without placing unnecessary financial strain on them,” Lepak said. “When market conditions allow, approved applicants receive private loans through local lending institutions at reduced interest rates. It is modeled after the successful linked deposit program for agriculture, and it creates another opportunity for charter and nonprofit schools to invest in their students and communities.”
The program will provide low-interest lending capital to eligible charter schools and nonprofits for new construction, expansions, repairs, improvements, and integrated tangible personal property. Read the full story in this week's Delaware County Journal.