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STATE OF OKLAHOMA
1st Session of the 60th Legislature (2025)
SENATE BILL 262 By: Nice
AS INTRODUCED
An Act relating to the Oklahoma Housing Finance
Agency; creating the Oklahoma Rental Assistance Grant
Program; stating purpose of program; directing rule
promulgation; creating the Oklahoma Rental Assistance
Revolving Fund; providing source of funds; stating
fund purpose; providing for codification; providing
an effective date; and declaring an emergency .
BE IT ENACTED BY THE PEO PLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 2904.1 of Title 74, unless there
is created a duplication in numbering, reads as follows:
There is hereby creat ed the Oklahoma Rental Assistance Grant
Program to be administered by the Oklahoma Housing Finance Agency
for the purpose of assisting people with rental subsidies who were
evicted due to the C OVID-19 pandemic. The program shall be funded
through legislative appropriations, federal funds, and private
donations to the Oklahoma Renta l Assistance Revolving Fund created
pursuant to Section 2 of this act. The Oklahoma Housing Finance
Agency shall promulgate rules to establish the program.
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SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 1204.2 of Title 74, unless there
is created a duplication in numbering, reads as follows:
There is hereby created in the State Treasury a revolving fund
for the Oklahoma Housing Finance Agency to be designated the
“Oklahoma Rental Assistanc e Revolving Fund”. The fund shall be a
continuing fund, not subject to fiscal year limitations, and shall
consist of all monies received by the Agency from legislative
appropriations, federal funds, and private donations provided for
the purpose of administering the Oklahoma Rental Assistance Grant
Program. All monies accruing to the credit of the fund are hereby
appropriated and may be budgeted and expended by the Agency for th e
purpose provided for in this act. 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 payme nt.
SECTION 3. This act shall become effective July 1, 2025.
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 an d approval.
60-1-1252 RD 12/30/2024 7:17:22 PM