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STATE OF OKLAHOMA
2nd Session of the 58th Legislature (2022)
CONFERENCE COMMITTEE
SUBSTITUTE
FOR ENGROSSED
HOUSE BILL NO. 3349 By: McCall, Wallace, McDugle,
and Phillips of the House
and
Treat of the Senate
CONFERENCE COMMITTEE SUBSTITUTE
An Act relating to public funds; creating the
Statewide Recovery Fund; establishing fund
characteristics; limiting appropriations and transfer
authority; requiring certain deposits of c ertain
monies; providing exception; directing deposits of
certain interest and income to certain fund;
providing for codification; and declaring an
emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 255 of Title 62, unless there is
created a duplication in numbering, reads as follows:
A. There is hereby created in the State Treasury a special fund
to be designated the "Statewide Recovery Fund". Said fund shall be
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subject to legislative appropriation or transfer as provided by law
and shall consist of:
1. All such monies as the Legislature may direct to be
appropriated or transferred to said fund; and
2. All such monies received by the state after the effective
date of this act pursuant to the American Rescue Plan Act, Public
Law No. 117-2, Section 604 "Coronavirus Capital Projects Fund" and
Section 9901 "Coronavirus State and Local Recovery Funds", less and
except the funds dedicated to the Nonentitlement Units of Local
Government as described in the American Rescue Plan Act.
B. Notwithstanding any provision of law to the contrary, all
interest and income derived from deposits to the Statewide Recovery
Fund shall be credited to the Statewide Recovery Fund.
SECTION 2. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
58-2-11606 MAH 05/18/22