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SENATE FLOOR VERSION
April 13, 2023
AS AMENDED
ENGROSSED HOUSE
BILL NO. 1928 By: Sims of the House
and
Rader of the Senate
[ public health and safety - Hazard Mitigation
Financial Assistance - name - revolving fund -
effective date ]
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 82 O.S. 2021, Section 1085.91, is
amended to read as follows:
Section 1085.91 In addition to the financial assistance program
programs established under Sections 1085.31 through 1085.49, 1085.51
through 1085.65, and 1085.71 through 1085.84A of Title 82 of the
Oklahoma Statutes this title pursuant to Section 39 of A rticle X of
the Oklahoma Constitution, it is the intention of the Legislature t o
establish a Flood Hazard Mitigation Financial Assistance Program.
Financing projects to mitigate flooding is certain hazards are
hereby declared to be a public purpose.
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SECTION 2. AMENDATORY 82 O.S. 2021, Section 1085.92, is
amended to read as follows:
Section 1085.92 As used in the Flood Hazard Mitigation
Financial Assistance Prog ram:
1. "Flood hazard Hazard mitigation projects" means those
projects designed to correct, alleviate or elim inate a condition or
situation which poses a repetitive threat to life, property, or
public safety from the effects of a flood disaster;
2. "Eligible entity" means any city, town, county, or the State
of Oklahoma, and any rural water or sewer district, ir rigation
district, public trust, master conservancy district, or other
political subdivision or any combination thereof;
3. "Board" means the Oklahoma Water Resources Board; and
4. "Department" means the Oklahoma Department of Civil
Emergency Management and Homeland Security.
SECTION 3. AMENDATORY 82 O.S. 2021, Section 1085.93, is
amended to read as follows:
Section 1085.93 A. In addition to other lawful purposes,
monies placed in the Statewide Water Development Revolving Fund,
exclusive of such amounts of interest derived from investment
deposits necessary to maintain the grant account at its maximum
amount as provided in Section 1085.40 of this title, may be used by
the Board for flood hazard mitigation projects pursuant to th e Flood
Hazard Mitigation Financial Ass istance Program.
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B. Within the Water Resources Fund created pursuant to Section
1085.33 of Title 82 of the Oklahoma Statutes, there is hereby
created the "Flood Hazard Mitigation Account ". The account shall be
set apart as a permanent and perpetual accou nt not subject to fiscal
year limitations and shall consist of:
1. All monies appropriated to the account;
2. Interest income from deposits made to the Statewide Water
Development Revolving Fund for the purpose of f lood hazard
mitigation;
3. All income from the investment of monies held in the account
consistent with applicable bond resolutions or indentures ; and
4. Any other sums designated for deposit to the account from
any source, public or private.
C. The monies in the account shall be used by the Oklahoma
Department of Civil Emergency Management and the Oklahoma Water
Resources Board after receipt of recommendations from the State
Hazard Mitigation Team, to implement flood hazard mitigation
projects, including but not limited to providing grants o r loans to
eligible entities to:
1. Acquire land or a conservation easement from a willing
seller or grantor in order to mitigate flood hazards; or
2. Implement voluntary, incentive -based flood hazard mitigation
measures in order to facilitate compliance with state or national
regulations.
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There is hereby created in the State Treasury a revolving f und
for the Oklahoma Water Resources Board to be designated the "Hazard
Mitigation Financial Assistance Fund ". The fund shall be a
continuing fund, not subject to fiscal year limitations, and shall
consist of all monies received by the Oklahoma Water Res ources Board
from appropriations, dedicated revenues, fees or other sources as
provided by law. All monies accruing to th e credit of said fund are
hereby appropriated and may be budgeted and expended by the Oklahoma
Water Resources Board for the purpose of providing loans and grants
for hazard mitigation. Expenditures from said fund shall be made
upon warrants issued by the State Treasurer against claims filed a s
prescribed by law with the Director of the O ffice of Management and
Enterprise Services for approval and payment.
B. In addition to other lawful purposes, monies placed i n the
Fund, exclusive of such amounts of int erest derived from investment
deposits necessary to maintain the grant account, may b e used by the
Board to implement hazard mitigation planning and projects,
including but not limited to , providing grants or loans to eligible
entities to:
1. Develop a federal/state approved local/regional hazard
mitigation planning document;
2. Acquire land or a conservation easement from a willing
seller or grantor in order to mitigate hazards; or
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3. Implement voluntary, incentive -based hazard mitigation
measures in order to facilitate compliance with state or national
regulations.
D. C. Monies in, or investment income derived from, the Flood
Hazard Mitigation Account Financial Assistance Fund which is used to
match any grant funds provided by the Federal Emergency Man agement
Agency or any other federal age ncies shall be restricted and used
consistent with Federal Emergency Management Agency federal agencies
procedures or guidance or regulations promulgated thereunder for
flood hazard mitigation projects.
E. D. Monies in the Flood Hazard Mitigation Account Financial
Assistance Fund, or investment income deriv ed therefrom, shall be
used by the Oklahoma Water Resources Board and the Oklahoma
Department of Civil Emergency Management and Homeland Security in
carrying out their responsibilities as provided in a w ritten annual
joint operating agreement which shall i nclude, among other matters,
a budget for administering the Oklahoma Flood Hazard Mitigation
Program.
F. E. The monies placed in the Flood Hazard Mitigation Account
Financial Assistance Fund may be invested by the State Treasurer in
an adequately collateralized manner and as prescribed by Section
89.2 of Title 62 of the Oklahoma Statutes or pursuant to investment
contracts or agreements with entiti es maintaining a rating in the
top two categories by a na tionally recognized municipal bond rating
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agency, all in a manner consistent with the federal Safe Drinking
Water Act or regulations promulgated thereunder regulations. The
Board may transfer to the Flood Hazard Mitigation Account Financial
Assistance Fund income derived from investment of the fund. Monies
invested by the State Treasurer shall be available to implement
flood hazard mitigation projects.
G. F. The Board shall cause to be completed an annual aud it of
any expenditures from the Flood Hazard Mitigation Account Financial
Assistance Fund, and such audit cost shall be included in the budget
for administering the Oklahoma Flood Hazard Mitigation Program.
SECTION 4. AMENDATORY 82 O.S. 2021, Section 1085.94, is
amended to read as follows:
Section 1085.94 A. In addition to ot her powers and duties
provided by law, the Oklahoma Water Resources Board shall have the
power and duty to:
1. After receipt from the Oklahoma Department of Civil
Emergency Management and Homeland Security, process applications for
grant funds or loans fr om the Flood Hazard Mitigation Account
Financial Assistance Fund and enter into grant or loan agreements
for use of such funds;
2. Promulgate rules as deemed neces sary by the Board to
administer the Flood Hazard Mitigation Financial Assistance Program;
3. Utilize the priority listing of applicants compiled by the
Oklahoma Department of Civil Emergency Management and Homeland
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Security after recommendations from the State Hazard Mitigation Team
in considering grant applications;
4. a. Issue investment cert ificates, in accordance with the
provisions of Sections 1085.33 and 1085.37 of Title 82
of the Oklahoma Statutes this title and the Oklahoma
Bond Oversight and Reform Act, to provide necessary
funds first to meet the demand for loan funding from
the Flood Hazard Mitigation Financial Assistance
Program; provided, any investment certificate proceeds
not needed for such demand may be used by the Board,
as needed, for funding other financial assistance
programs authorized in Title 82 of the Oklahoma
Statutes this title, and
b. Enter into loan agreements with and ma ke loans from
the proceeds of investment certificates to eligible
entities for flood hazard mitigation pro jects upon
terms not inconsistent with the provisions of Section
1085.36 of Title 82 of the Oklahoma Statutes this
title; and
5. Enter into agreement s with the Oklahoma Department of Civil
Emergency Management and Homeland Security or other state or fe deral
agencies as deemed necessary by the Boar d to monitor and measure
flood hazard events.
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B. In addition to other powers and duties provided by law, t he
Oklahoma Department of Civil Emergency Management and Homeland
Security shall consider the recommendations, if any, of the State
Hazard Mitigation Team prior to:
a. promulgation of
1. Promulgate rules providing for and establishing a priority
listing of grant and loan applicants for flood hazard mitigation
projects subject to the Oklahoma Civil Defense and Eme rgency
Resources Management Act,; and
b. determining
2. Determine eligibility of those ent ities authorized to
receive funding from the Flood Hazard Mitigation Account Financial
Assistance Fund.
SECTION 5. AMENDATORY 82 O.S. 2021, Section 1085.95, is
amended to read as follows:
Section 1085.95 A. Loans and grants unde r the Flood Hazard
Mitigation Financial Assistance Program may be used in conjunction
with other financial assistance available from the Okl ahoma Water
Resources Board.
B. If a flood hazard mitigation pr oject includes activities to
be conducted on private ly owned real property, the loan or g rant
agreement between the Board and the eligible entity th at receives
the grant shall contain a provis ion about any necessary
subagreements with the owners of the pro perty.
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SECTION 6. This act shall be come effective November 1, 2023.
COMMITTEE REPORT BY: COMMITTEE ON ENERGY AND TELECOMMUNICATIONS
April 13, 2023 - DO PASS AS AMENDED