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SENATE FLOOR VERSION
February 26, 2025
AS AMENDED
SENATE BILL NO. 265 By: Murdock of the Senate
and
Newton of the House
[ water and water rights - Loan Program - eligible
projects and entities - fund - allocation -
promulgation of rules - reporting - auditing –
codification -
emergency ]
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 1085.66 of Title 82, unless
there is created a duplication in numbering, reads as follows:
A. 1. The Oklahoma Water Resources Board shall establish an
Oklahoma Water Infrastructure Loan Program. The program shall be
utilized to:
a. finance the development of water infrastructure
improvements through low-interest loans and grants to
municipalities, rural water districts, and other
eligible entities for approved water infrastructure
projects, and
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b. provide technical assistance and administrative
expense support for water infrastructure pr oject
implementation.
2. Approved water infrastructure projects shall include, but
not be limited to:
a. the construction, repair, and rehabilitation of water
treatment plants, pipelines, and storage facilities,
b. projects to ensure water quality and con servation, and
c. other projects deemed necessa ry by the Board to
address current and future water needs.
B. The Board shall promulgate rules for project eligibility,
application procedures, and fund disbursement.
C. 1. The Board shall submit an annual report electronically
to the President Pro Tempore of the Senate, the Speaker of the House
of Representatives, and the Governor, detailing the following:
a. fund revenues and expenditures,
b. projects financed and the current status of such
projects,
c. future funding needs and recommendations, and
d. any other information deemed necessary for inclusion
by the Board or its staff.
2. The program shall be subject to an annual independent audit
of expenditures from the fund.
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SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 1085.67 of Title 82, unless
there is created a duplication in numbering, reads as follows:
A. 1. There is hereby created in the State Treasury a
revolving fund for the Oklahoma Water Resources Board to be
designated the “Oklahoma Water Infrastructure Revolving Fund ”. The
fund shall be a continuing fund, not subject to fiscal year
limitations, and shall consist of all monies received by the Board
from the sources prescribed i n subsection B of this section provided
for the purpose of funding water infrastructure projects as
prescribed by this act. All monies accruing to the credit of the
fund are hereby appropriated and may be budgeted and expended by the
Board for the 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
payment. The Board may enter into contracts with financial
institutions and execute such instruments as may be necessary to
hold and disseminate program funds in accordance with applicable
regulations and Board policies.
2. Notwithstanding any other provisions of law, income and
investment return on fund principal and interest income and
repayment of principal on loans made from the balance of the fund
shall accrue to the fund.
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3. Not less than ten percent (10%) of the fund ’s annual revenue
shall be allocated to proje cts in rural or unde rserved communities,
as determined by the Board.
B. Monies deposited to the fund shall include, but not be
limited to:
1. Proceeds derived from the sale of surplus water from state -
owned water resources. Provided:
a. all proceeds from the sale of state-owned water shall
be deposited into the fund within thirty (30) days of
receipt, and
b. the sale of water under this section shall not violate
existing water rights agreements ;
2. Fees collected from the leasing of state -owned water rights
or usage agreements;
3. Grants, donations, or contributions from federal, state, or
private entities; and
4. Interest and investment returns generated from fund
balances.
SECTION 3. It being immediately necessary for the preservatio n
of the public peace, health or safety, an eme rgency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS
February 26, 2025 - DO PASS AS AMENDED