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STATE OF OKLAHOMA
2nd Session of the 59th Legislature (2024)
SENATE BILL 1338 By: Thompson (Roger)
AS INTRODUCED
An Act relating to the Progressing Rural Economic
Prosperity Fund; establishing the Oklahoma Department
of Commerce Progressing Rural Economic Prosperity
Revolving Fund; stating purpose of fund; establishing
source of fund; establishing the Oklahoma Sp ace
Industry Development Authority Progressing Rural
Economic Prosperity Revolving Fund; stating purpose
of fund; establishing source of fund; establishing
Oklahoma Department of Aerospace and Aeronautics
Progressing Rural Economic Prosperity Revolving Fund ;
stating purpose of fund; establishing source of fund ;
providing for codification; providing an effective
date; and declaring an e mergency.
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 256.1 of Title 62, unless there
is created a duplication in number ing, reads as follows:
There is hereby created in the State Treasury a revolvin g fund
for the Oklahoma Department of Commerce to be designated the
“Oklahoma Department of Commerce Progressing Rural Economic
Prosperity Revolving Fund”. The fund shall be a continuing fund,
not subject to fiscal year limitations, and shall consist of all
monies appropriated to the Department from the Progressing Rural
Economic Prosperity Fund established in Section 256 of Title 62 of
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the Oklahoma Statutes . All monies accruing to the credit of the
fund are hereby appropriated and may be budgeted and exp ended by the
Department for the purpose provided for in this section.
Expenditures from the fund shall be made upon warrants issued by the
State Treasurer against claims filed as prescribed by law with the
Director of the Office of Management and En terprise Services for
approval and payment.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 256.2 of Title 62, unless there
is created a duplication in numbering, reads as follows:
There is hereby created in the State Treasury a revolving f und
for the Oklahoma Space Industry Development Authority to be
designated the “Oklahoma Space Industry Development Authority
Progressing Rural Economic Prosperity Revolving Fund”. The fund
shall be a continuing fund, not subject to fiscal year limitations,
and shall consist of all monies appropriated to the Authority from
the Progressing Rural Economic Prosperity Fund established in
Section 256 of Title 62 of the Oklahoma Statutes . All monies
accruing to the credit of the fund are hereby appropriated and ma y
be budgeted and expe nded by the Authority for the purpose provided
for in this section. Expenditures from the fund shall be made upon
warrants issued by the State Treasurer against claims filed as
prescribed by law with the Director of the Office of Management and
Enterprise Services for approval and payment.
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SECTION 3. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 256.3 of Title 62, unless there
is created a duplication in numbering, reads as fol lows:
There is hereby created in the State Treasury a revolving fund
for the Oklahoma Department of Aerospace and Aeronautics to be
designated the “Oklahoma Department of Aerospace and Aeronautics
Progressing Rural Economic Prosperity Revolving Fund”. The fund
shall be a continuing fund, not subject to fiscal year limitations,
and shall consist of all monies appropriated to the Department from
the Progressing Rural Economic Prosperity Fund established in
Section 256 of Title 62 of the Oklahoma Statutes . All monies
accruing to the credit of the fund are hereby appropriated and may
be budgeted and expended by the Department for the purpose provided
for in this section. Expenditures from the fund shall be made upon
warrants issued by the State Treasurer against claims filed as
prescribed by law with the Director of the Office of Management and
Enterprise Services for approval and paym ent.
SECTION 4. This act shall become effective July 1, 2 024.
SECTION 5. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereo f this act shall take effect and
be in full force from and after its passage and approval.
59-2-2729 RD 12/14/2023 2:45:06 PM