Oklahoma 2024 Regular Session

Oklahoma House Bill HB2870 Compare Versions

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29		-	SENATE FLOOR VERSION
30		-	April 10, 2023
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33	28		ENGROSSED HOUSE
34	29		BILL NO. 2870 By: Wallace of the House
35	30
36	31		and
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38	33		Hall of the Senate
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43	42		An Act relating to rural housing; creating the
44	43		Oklahoma Housing Stability Program; establishing the
45	44		Homebuilder Program; creating the Homebuilder
46	45		Revolving Fund; establishing the Oklahoma Increased
47	46		Housing Program; creating the Oklahoma Increased
48	47		Housing Revolving Fund; providing for administration
49	48		of programs by the Oklahoma Finance Ag ency; creating
50	49		a loan program; creating a financing program;
51	50		establishing program parameters; requiring certain
52	51		reporting; establishing revolving fund
53	52		characteristics; establishing and limiting budgeting
54	53		and expenditure from funds; authorizing retention of
55	54		certain administrative costs; exempting p rograms and
56	55		funds from the Oklahoma State Finance Act; the
57	56		Oklahoma Central Purchasing Act; and the Public
58	57		Competitive Bidding Act of 1974; exempting funds from
59	58		certain claims; providing for codification; providing
60	59		an effective date; and declaring an emergency.
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65	66		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
66	67		SECTION 1. NEW LAW A new section of law to be codified
67	68		in the Oklahoma Statutes as Section 2903 of Title 74, unless there
68	69		is created a duplication in numbering, reads as follows:
69		-	This act shall be known as the "Oklahoma Housing Stability
70		-	Program".
71	70
72		-	SENATE FLOOR VERSION - HB2870 SFLR Page 2
73		-	(Bold face denotes Committee Amendments) 1
	71	+	ENGR. H. B. NO. 2870 Page 2 1
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	96	+	This act shall be known as the "Oklahoma Housing Stability
	97	+	Program".
98	98		SECTION 2. NEW LAW A new section of law to be codified
99	99		in the Oklahoma Stat utes as Section 2903.1 of Title 74, unless there
100	100		is created a duplicat ion in numbering, reads as follows:
101	101		The Oklahoma Homebuilder Program shall be administered by the
102	102		Oklahoma Housing Finance Agency (OHFA). The program shall create
103	103		more affordable single family housing units across the State of
104	104		Oklahoma. The program shall be a loan program for homebuilders at
105	105		interest rates as low as zero percent (0%) , providing loans to build
106	106		single family housing units. The program shall fund both urban and
107	107		rural housing developments across the state. OHFA may promulgate
108	108		rules to administer the Oklahoma Homebuilder Program. OHFA shall
109	109		provide a yearly report beginning July 1, 2024, to the Governor, the
110	110		Speaker of the Oklahoma House of Representatives , the President Pro
111	111		Tempore of the Oklahoma State Senate, the House Appropriations and
112	112		Budget Chair, and the Senate Appropriations Chair detailing how many
113	113		awards have been made and how many single family housing unit s have
114	114		been built to date, along with other program information deemed
115	115		relevant by OHFA.
116	116		SECTION 3. NEW LAW A new section of law to be codified
117	117		in the Oklahoma Statutes as Section 2903.2 of Title 74, unless there
118	118		is created a duplicat ion in numbering, reads as follows:
119		-	There is hereby created in the State Treasury a revolving fund
120		-	for the Oklahoma Housing Finance Agency (OHFA) to be designated the
121		-	"Homebuilder Revolving Fund". The fund shall be a continuing fund,
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123		-	SENATE FLOOR VERSION - HB2870 SFLR Page 3
124		-	(Bold face denotes Committee Amendments) 1
	120	+	ENGR. H. B. NO. 2870 Page 3 1
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	145	+	There is hereby created in the State Treasury a revolving fund
	146	+	for the Oklahoma Housing Finance Agency (OHFA) to be designated the
	147	+	"Homebuilder Revolving Fund". The fund shall be a continuing fund,
149	148		not subject to fiscal year limitations, and shall consist of all
150	149		monies received by the OHFA from appropriations, donations, grants,
151	150		or other sources of funding specifically designated for deposit to
152	151		the Homebuilder Revolving Fund. All monies accruing to the credit
153	152		of said fund are hereb y appropriated and may be budgeted and
154	153		expended by the OHFA for the purpose of the Oklahoma Homebuilder
155	154		Program as described in Section 2 of this act. Of the funds
156	155		available, the OHFA may use up to five percent (5% ) of the funds to
157	156		cover additional administrative costs to OHFA in administering the
158	157		Oklahoma Homebuilder Program.
159	158		SECTION 4. NEW LAW A new section of law to be codified
160	159		in the Oklahoma Statutes as Section 2903.3 of Title 74, unless there
161	160		is created a duplication in numbering, reads as follows:
162	161		The Oklahoma Increased Housing Program shall be administered by
163	162		the Oklahoma Housing Fina nce Agency (OHFA). The goal of the program
164	163		is to help create more affordable housing across the State of
165	164		Oklahoma. The program shall help both developers and homebuyers.
166	165		Developers may apply for gap financing in building both single
167	166		family and multi-family homes across the state. Homebuyers may
168	167		apply for a grant assisting in making their down payments in
169	168		purchasing a home. The program shall fund both urban and rural
170		-	housing developments across the state. OHFA may promulgate rules to
171		-	develop the Oklahoma Increased Housing Program. OHFA shall provide
172		-	a yearly report beginning July 1, 2024, to the Governor, the Speaker
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174		-	SENATE FLOOR VERSION - HB2870 SFLR Page 4
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	170	+	ENGR. H. B. NO. 2870 Page 4 1
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	195	+	housing developments across the state. OHFA may promulgate rules to
	196	+	develop the Oklahoma Increased Housing Program. OHFA shall provide
	197	+	a yearly report beginning July 1, 2024, to the Governor, the Speaker
200	198		of the Oklahoma House of Representatives, the President Pro Tempore
201	199		of the Oklahoma State Senate, the House Appropriations and Budget
202	200		Chair, and the Senate Appropriations Chair detailing how many awards
203	201		have been made to both developers and to homebuyers, how many
204	202		additional housing units have be en built, along with other program
205	203		information deemed relevant by OHFA.
206	204		SECTION 5. NEW LAW A new section of law to be codified
207	205		in the Oklahoma Statutes as Section 2903.4 of Title 74, unless there
208	206		is created a duplication in numbering, reads as follows:
209	207		There is hereby created in the State Treasury a revolving fund
210	208		for the Oklahoma Housing Finance Agency (OHFA) to be designated the
211	209		"Oklahoma Increased Housing Revolving Fund". The fund shall be a
212	210		continuing fund, not subject to fiscal ye ar limitations, and sha ll
213	211		consist of all monies received by the OHFA from appropriations,
214	212		donations, grants, or other sources of funding specifically
215	213		designated for deposit to the Oklahoma Increased Housing Revolving
216	214		Fund. All monies accruing to the credit of said fund are here by
217	215		appropriated and may be budgeted and expended by the OHFA for the
218	216		purpose of the Oklahoma Increased Housing Program as described in
219	217		Section 4 of this act. Of the funds available, the OHFA may use up
220	218		to five percent (5%) of the funds to cove r additional administrative
221		-	costs to OHFA in administering the Oklahoma Increased Housing
222		-	Program.
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224		-	SENATE FLOOR VERSION - HB2870 SFLR Page 5
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	220	+	ENGR. H. B. NO. 2870 Page 5 1
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	245	+	costs to OHFA in administering the Oklahoma Increased Housing
	246	+	Program.
250	247		SECTION 6. NEW LAW A new section of law to be codified
251	248		in the Oklahoma Statutes as Section 2903.5 of Title 74, unless there
252	249		is created a duplica tion in numbering, reads as follows:
253	250		A. For the Oklahoma Housing Finance Agency's programs, the
254	251		Oklahoma Homebuilder Program, funded by the Homebuilder Revolving
255	252		Fund, and the Oklahoma Increased Housing Program , funded by the
256	253		Oklahoma Increased Housing Revolving Fund, the Oklahoma Housing
257	254		Finance Agency (OHFA) shall be exempt from the Oklahoma State
258	255		Finance Act, the Oklahoma Central Purchasing Act, and the Public
259	256		Competitive Bidding Act of 1974. OHFA shall be subject to all
260	257		financial regulations and repor ts currently required of OHFA,
261	258		including all audits it is required to perform.
262	259		B. All funds in the Homebuilder Revolving Fund and in the
263	260		Oklahoma Increased Housing Fund shal l be exempt from any present or
264	261		future claims by bon dholders or other debt holders of OHFA related
265	262		to any claim against OHFA for other housing programs administered by
266	263		OHFA.
267	264		SECTION 7. This act shall become effective July 1, 2023.
268	265		SECTION 8. It being immediately necessary for the preservation
269	266		of the public peace, health or safety, an emergency is hereby
270	267		declared to exist, by reason whereof this act shall take effect and
271	268		be in full force from and after its passage and approval.
272		-	COMMITTEE REPORT BY: COMMITTEE ON BUSINESS AND COMMERCE
273		-	April 10, 2023 - DO PASS
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	295	+	Passed the House of Representatives the 22nd day of March, 2023.
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	300	+	Presiding Officer of the House
	301	+	of Representatives
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	305	+	Passed the Senate the ___ day of __________, 2023.
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	310	+	Presiding Officer of the Senate
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