Oklahoma City, Oklahoma 73105
For Immediate Release: March 4, 2014
Sen. Kyle Loveless
Senate approves plan to complete American
Indian Cultural Center and Museum
The state Senate today approved a plan to complete
the American Indian Cultural Center and Museum (AICCM) without undertaking
further state bond debt.
Senate Bill 1651 will fund completion of the project using $40 million
in one-time monies from the state’s Unclaimed Property Fund,
which will be matched by $40 million in private donations. The proposal
enables the project to be completed without accepting any federal
debt financing, and eliminates the state agency structure of AICCM,
removing its annual cost from the state budget.
Loveless, co-author of the measure, said the proposal represents
the most fiscally conservative approach to complete the project.
“Our plan enables us to complete this world-class facility
without further indebting the state,” said Loveless, R-Oklahoma
City. “By paying cash and ending the state’s annual
financial stake in the agency, we can keep our commitment to the
project in a fiscally responsible way. This will allow the state
to efficiently repay bonds, remove recurring expenses from the budget,
and begin realizing a return on its investment in the museum.”
Senate Bill 1651 will:
• Allow for the responsible completion of a valuable state
asset while maximizing private donations
• Eliminate the Native American Cultural and Educational Authority
as a state agency, removing its annual cost from the state’s
• Prohibit the use of federal debt financing, which was previously
• Establish a structure for repayment of all previously expended
state debt financing on the project.
Loveless said the project would have a positive economic and cultural
impact on the state.
“Today we voted to complete our investment in a facility that
is projected to have a $3.8 billion economic impact over the next
20 years,” Loveless added. “This project places one
of the state’s premier cultural destinations at the state’s
biggest transportation crossroads. If we don’t see this project
through to completion, it would be an extraordinary failure in our
responsibility to maintain a state asset with tremendous economic
and cultural potential.”
Senate Bill 1651 now advances to the House for consideration.
For more information, contact:
Sen. Loveless: (405) 521-5618