An Act
ENROLLED HOUSE
BILL NO. 2912 By: Wallace, Caldwell (Trey),
Munson, Townley, and Strom
of the House
and
Hall and Rosino of the
Senate
An Act relating to emergency management; cre ating the
State Assistance Dedicated for Disaster-impacted
Local Economies Revolving Fund; establishing
revolving fund characteristics; declaring funds
appropriated; providing purpose; providing
expenditure procedures; defining terms; authorizing
the promulgation of rules; providing for
codification; and declaring an emergency.
SUBJECT: Emergency management
BE IT ENACTED BY THE PE OPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 690.10 of Title 63, unless there
is created a duplication in numbering, re ads as follows:
A. There is hereby created in the State Treasury a revolving
fund for the Oklahoma Department of Emergency Management to be
designated the "State Assistance Dedicated for Disaster-impacted
Local Economies Revolving Fund". The fund shall be a continuing
fund, not subject to fiscal year limitations, and shall consist of
all monies directed for deposit to the fund . All monies accruing to
the credit of said fun d are hereby appropriated and may be budgeted
and expended by the Oklahoma Department of Emergency Management for
the purpose of providing advanced financial liquidity to
governmental subdivisions directly impacte d by events attributing to
ENR. H. B. NO. 2912 Page 2
a Federal Emergency Management Agency (FEMA) declared emergency or
disaster, provided such governme ntal subdivision has entered into a
qualifying repayment agreement with the Oklahoma Department of
Emergency Management. Expenditures from said fun d shall be made
upon warrants issued by the State Treasurer against claims filed as
prescribed by law with t he Director of the Office of Managem ent and
Enterprise Services for approval and payment .
B. As used in this sect ion:
1. "Advanced financial liquidity" means funding provided to
fund gaps in mitigation of local and county revenue losses and
operating deficits; infrastructure repair and rep lacement, including
road, sewer, and water facilities; temporary housi ng and shelter
made necessary by the result of the associated emergency or
disaster; and to fund gaps in required matching funds for
participation in, or the benefit of, programs administered or funded
by the Federal Emergency Management Agency (FEMA); and
2. "Qualifying repayment agreement " means a memorandum of
understanding or legally binding agreement which identifies the
purpose of use for such ad vanced financial liquidity, and which
identifies the source of repayment by the governmental subdivision
and a repayment timeline or standard for re payment.
C. The Oklahoma Department of Emergency Management may
promulgate rules as needed to implement the provisions of this
section.
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 an d approval.
ENR. H. B. NO. 2912 Page 3
Passed the House of Representatives the 14th day of May, 2024.
Presiding Officer of the House
of Representatives
Passed the Senate the 16th day of May, 2024.
Presiding Officer of the Senate
OFFICE OF THE GOVERNOR
Received by the Office of the Governor this ____________________
day of ___________________, 20_______, at _______ o'clock _______ M.
By: _________________________________
Approved by the Governor of the State of Oklahoma this _____ ____
day of ___________________, 20_______, at _______ o'clock _______ M.
_________________________________
Governor of the State of Oklahoma
OFFICE OF THE SECRETARY OF STATE
Received by the Office of the Secretary of S tate this __________
day of ___________________, 20_______, at _______ o'clock _______ M.
By: _________________________________