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STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
COMMITTEE SUBSTITUTE
FOR ENGROSSED
HOUSE BILL 2724 By: Blancett, Menz, Dollens,
and Pittman of the House
and
Kirt and Hall of the Senate
COMMITTEE SUBSTITUTE
[ housing - Oklahoma Affordable Housing Commission –
membership - utilization of resources -
administrative rules - unencumbered funds –
codification – effective date ]
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 6301 of Title 74, unless there
is created a duplication in numbering, reads as follows:
As used in this act:
1. “Extremely low-income household” means a household income
not in excess of thirty percent (30%) of the area median income,
adjusted for the size of the household, as determined by the United
States Department of Housing and Urban Development;
2. “Very low-income household” means a household income of more
than thirty percent (30%) of the area median income but no more than
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fifty percent (50%) of the area median income, adjusted for the size
of the household, as determined by the United States Department of
Housing and Urban Development;
3. “Low-income household” means a household income of more than
fifty percent (50%) of the area median income but no more than
eighty percent (80%) of the area median income, adjusted for the
size of the household, as determined by the United States Department
of Housing and Urban Deve lopment;
4. “Moderate-income household” means a household income of more
than eighty percent (80%) of the area me dian income but no more than
one hundred twenty percent (120%) of the area median income,
adjusted for the size of the household, as determined by the United
States Department of Housing and Urban Development; and
5. “Middle-income household” means a household that has an
income of more than one hundred twenty percent (120%) of the area
median income but no more than one hundred sixty percent ( 160%) of
the area median income, adjusted for the size of the household, as
determined by the United States Depart ment of Housing and Urban
Development.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 6302 of Title 74, unless there
is created a duplication in numbering, reads as follows:
A. There is hereby created until December 30, 2034, the
Oklahoma Affordable Housing Commission. The Commission shall be
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composed of fifteen (15) members. The members shall serve as
follows:
1. Five members shall be appointed by the Governor:
a. one shall be a person living in an urban area with a
population more than one hundred thousand (100,000)
persons according to the latest Federal Decenn ial
Census,
b. one shall be a person living in a rural community
residing in a county with a population less than
seventy-five thousand (75,000) persons according to
the latest Federal Decennial Census ,
c. one shall be an official serving in a city, town, or
political subdivision in a county with a population
less than seventy-five thousand (75,000) persons
according to the lates t Federal Decennial Census,
d. one shall represent an organization that assists
special populations, including but not limited to the
elderly, disabled, veterans, and children
transitioning out of foster care, in obtaining
affordable housing, and
e. one shall represent an Oklahoma rural housing
authority;
2. Five members shall be appointed by the President Pro Tempore
of the Senate:
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a. one shall be a Senator from the majority party who
shall serve as co-chair of the Commission,
b. one shall be a Senator fr om the minority party who
shall serve as co-vice chair of the Commission,
c. one shall represent a low-income and moderate-to-low-
income population-serving financial institution or a
community development financial institution, as
defined by the Federal Reserve,
d. one shall be an official serving in a municipality
with a population more than one hundred thousand
(100,000) persons according to t he latest Federal
Decennial Census, and
e. one shall represent an urban housing authority ;
3. Five members shall be appointed by the Speaker of the House
of Representatives:
a. one shall be a House member from the majority party
who shall serve as co-chair of the Commission,
b. one shall be a House member from the minority party
who shall serve as co -vice chair of the Commission,
c. one shall represent a federally recognized tribe in
Oklahoma that provides affordable housing in rural
areas,
d. one shall be a representative from a community housing
development organization, as determined by the United
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States Department of Housing and Urban Development,
and
e. one shall represent a not -for-profit organization that
serves low-income Oklahomans expe riencing difficulty
in obtaining affordable housing ; and
4. The following shall be ex officio members:
a. one shall be from the Oklahoma Department of Commerce
Community Development Division, or his or her
designee,
b. one shall be an Oklahoma representative of the U nited
States Department of Agriculture , and
c. the Executive Director of the Oklahoma Housing Finance
Agency, or designee.
B. For the initial appointments of members to the Commission,
each appointment shall be for a two -year term. Thereafter , the
terms of the Commission shall be for three (3) years .
C. No member of the Commission shall receive a salary or
reimbursement for duties performed as a member of the Commission;
however, members may be eligible to receive travel reimbursement as
provided in the State Travel Reimbursement Act .
D. The meetings of the Commission shall be subject to the
Oklahoma Open Meeting A ct.
E. The Commission shall utilize the resources available to it
in order to address the needs of extremely low-income households,
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very low-income households, low -income households, moderate -income
households, and middle -income households in order to promote a
condition in which suitable housing is available to as many persons
as possible pursuant to rules promulgated by the Oklahoma Housing
Finance Agency pursuant to Section 3 of this act.
SECTION 3. NEW LAW A new section of law t o be codified
in the Oklahoma Statutes as Section 6303 of Title 74, unless there
is created a duplication in numbering, reads as f ollows:
The Oklahoma Housing Finance Agency shall promulgate rules to
implement:
1. An initial comprehensive Oklahoma affordable housing
environmental scan and needs assessment;
2. A comprehensive Oklahoma affordable housing annual report
and action plan to be submitted electronically to the Governor and
the Legislature;
3. A plan for long-term expansion of affordable housing across
the state;
4. An update on the implementation and outcomes of the
investment in the Oklahoma Housing Stability Program created in
Section 2903 et seq. of Title 74 of the Oklahoma Statutes ;
5. Evaluate and make recommendations to the Legislature on
policies and incentives to increase the development, inventory, and
diversification of affordable housing; and
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6. Any other rules necessary to carry out the purpose and
mission of the Oklahoma Affordable Housing Commission pursuant to
Section 2 of this act.
SECTION 4. This act shall become effective November 1, 2024.
59-2-3705 MR 4/8/2024 3:14:03 PM