The Senate Appropriations Committee on Wednesday gave unanimous approval to a measure that would create the Oklahoma Office of Privatization. Senate Bill 1008 creates the office under the regulatory authority of the Office of Management and Enterprise Services (OMES).
Sen. Greg Treat, author of the proposal, explained that the Office of Privatization will serve as a repository for privatization and surplus asset sales practices. Additionally, the Office will evaluate and respond to privatization proposals and oversee contracting for such opportunities.
“The creation of the Office of Privatization is a direct result of Governor Fallin’s Bold Ideas for Oklahoma report from the Task Force on Economic Development and Job Creation,” said Treat, R-Oklahoma City. “I applaud the efforts of the Task Force and want to see this important idea implemented. There are many functions of government that could easily be done by the private sector in a more efficient manner and free up state agencies to focus on their core missions that can only done by government entities.”
Under the provisions of SB 1008, the Secretary of Finance will organize, with the approval of the governor, a governing board for the office. The governor will establish the number of members and necessary qualifications. With the approval of a majority of the board, the Secretary of Finance will promulgate rules to implement provisions of the bill.
“Without the existence of an Office of Privatization we have to deal with all privatization in an ad hoc and unfocused manner,” Treat said. “We need to follow the advice of members of Governor Fallin’s Task Force and have a laser-like focus on getting government leaner, more efficient, and more effective. This office will be able to look at best practices and provide policymakers with objective data to improve our decision making process in privatization.”