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STATE OF OKLAHOMA
1st Session of the 59th Legislature (2023)
HOUSE BILL 2207 By: West (Kevin)
AS INTRODUCED
An Act relating to public finance; requiring deposit
or transfer of certain federal funds to the Federal
Funds Holding Account; providing exception; creating
Federal Funds Holding Account; re quiring certain
federal funds to be appropriated; providing for
codification; providing an effective date; and
declaring an emergency.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAH OMA:
SECTION 1. NEW LAW A new sectio n of law to be codified
in the Oklahoma Statutes as Section 5001 of Title 62, unless there
is created a duplication in numbering, reads as fo llows:
Unless the federal law, whether federal statute, federal
administrative rule, federal interpretive guidance or similar
provision prohibits or restricts the transfer or allocation, any
funds transferred, allocated or otherwise made available to the
State of Oklahoma pursuant to federal law, whether enact ed by
Congress or pursuant to federal administrative rules, shall be
transferred to the F ederal Funds Holding Account created pursuant to
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Section 2 of this act and shall be subject to appropriation by the
Legislature.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 5002 of Title 62, unless there
is created a duplication in numbering, reads as follows:
There is hereby created within the G eneral Revenue Fund of the
State Treasury the "Federal Funds Holding Account ". Unless federal
law prohibits or res tricts it, all funds authorized or required to
be paid to the State of Oklahoma by the federal government, its
agencies, instrumentalities or other federal governmental entity
shall be deposited o r transferred to the credit of the Federal Funds
Holding Account and shall be subject to appropriation by the
Legislature.
SECTION 3. This act shall become effective July 1, 202 3.
SECTION 4. 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 ap proval.
59-1-5190 MAH 01/16/23