TSET board plans to sue to stop a new Oklahoma law restructuring its membership
OKLAHOMA CITY – A constitutionally created board charged with overseeing billions of taxpayer dollars plans to sue to block a new law that allows state leaders to alter its makeup at any time.
The Tobacco Settlement Endowment Trust
voted 5-0 Thursday to file a lawsuit challenging House Bill 2783.
The measure, which became law Thursday without Gov. Kevin Stitt's signature, requires the board appointees to serve at the will of the appointing entity and limits that service to seven years. The board members currently serve seven-year staggered terms. The seven members are appointed by the governor, treasurer, state superintendent, attorney general, state auditor and the leaders of the House and Senate and must have experience in health care or programs benefitting children or seniors.
Some Democrats believe the measure is legislative retaliation and an attempt to strip the board of its independence after TSET declined to immediately provide $50 million for a University of Oklahoma children's pediatric heart hospital in Oklahoma City.
'What we are doing here is we are using legislative power to extract retaliation,' said Rep. Meloyde Blancett, D-Tulsa, debating against the measure earlier this month.
Lawmakers put $200 million toward the project.
'These changes in statute appear to conflict with the Oklahoma Constitution, and the board needs clarity on this issue in order to protect the integrity of the TSET trust and ensure that any changes are consistent with the will of the voters who created TSET,' said Thomas Larson, the agency's spokesperson.
Oklahoma voters created TSET, an endowment trust, in 2000 after 46 states sued tobacco companies. The tobacco companies paid states damages for illnesses caused by smoking.
TSET's Board of Investors invests the funds. The earnings, which have grown to about $2 billion, are used to support efforts to improve health.
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