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SENATE FLOOR VERSION
February 20, 2025
COMMITTEE SUBSTITUTE
FOR
SENATE BILL NO. 92 By: Bullard of the Senate
and
Maynard of the House
[ water and water rights - Investment Program - rule
promulgation - priority scoring - clawback -
publication - fund - codification - effective date -
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, unles s
there is created a duplication in numbering, reads as follows:
A. 1. The Oklahoma Water Resources Board shall establish and
administer a Water and Wastewater Infrastructure Investment Program.
The program shall include development of competitive loans for
eligible entities seeking to develop and implement water or
wastewater improvement projects. The Board shall promulgate rules
to effectuate the provisions of this act and loan criteria for the
program.
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2. Loan applications shall be ranked on criteri a including, but
not limited to, the critical nature of the project, available
financing for the project, conservation and fiscal sustainability
efforts as demonstrated by participation in or completion of the
Long Range Sustainability Program administered by the Oklahoma Rural
Water Association, and pledge of matching funds, either through the
entity or a third-party source.
3. For the purposes of this section, “eligible entity” or
“eligible entities” means an eligible entity as defined pursuant to
Section 1085.32 of Title 82 of the Oklahoma Statutes.
B. All loans authorized pursuant to the provisions of this act
shall include a clawback provision in the funding agreement with an
eligible entity. For purposes of this subsection, a “clawback
provision” shall mean a condition precedent to participate in the
program whereby a loan recipient agrees in writing, signed by all
parties, to reimburse the program all or any part of the loan
disbursed to the recipient upon the failure of the recipient to
fulfill loan contract terms.
C. The Board shall create and publish an interactive map on the
Board’s website displaying critical infrastructure needs and
proposed projects to be completed pursuant to the provisions of this
act. The map shall also display the status of proposed and approved
projects, estimated completion dates, and any other information
deemed necessary by the Board.
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D. Any eligible entity receiving monies pursuant to the Water
and Wastewater Infrastructure Investment Program shall prioritize
the utilization of contractors, businesses, and other vendors that
are based in this state.
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 duplicat ion in numbering, reads as follows:
A. 1. There is her eby created in the State Treasury a
revolving fund for the Oklahoma Water Resources Board to be
designated the “Water and Wastewater Infrastructure Investment
Revolving Fund”. The fund shall be a con tinuing fund, not subject
to fiscal year limitations, and shall consist of all monies
appropriated pursuant to Section 3 of this act. All monies accruing
to the credit of the fund are hereby appropriated and may be
budgeted and expended by the Board for t he purposes provided in this
act. The Board may enter i nto contracts with financial institutions
and execute such instruments as may be necessary to hold and
disseminate loan 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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B. 1. The Board may have full discretion of all monies within
the fund for enhancements, leveraging, and reser ve capacities for
the Board loan and grant programs, system evaluation and risk
assessment assistance, and long -range infrastructure planning.
2. The Board may reserve up to two percent (2%) per year from
the fund for the purpose of administering the Water and Wastewater
Infrastructure Investment Program. Any remaining funds may be
allocated to satisfy the purposes of paragraph 1 of this subsection.
C. The funds remaining following reserves and allo cations made
pursuant to subsection B of this section sh all be loaned to eligible
entities as prescribed by the program. Loan monies shall be
allocated based on the most current census data available from the
Federal Decennial Census or American Community Survey and shall be
as follows:
1. Twenty-five percent (25%) of the allocated funds shall be
for approved projects located within a municipality or county with a
population of more than four hundred thousand (400,000), or the
equivalent thereof for other eligible entities as prescribed by the
Board;
2. Twenty-five percent (25%) of the allocated funds shall be
for approved projects located within a municipality or county with a
population that is greater than thirty thousand (30,000) but less
than four hundred thousand (400,000), or the equivalent thereof for
other eligible entities as prescribed by the Board; and
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3. Fifty percent (50%) of the allocated funds shall be for
approved projects located within a municipality or county with a
population of less than thirty thousand (30,000), or the equivalent
thereof for other eligible entities as prescribed by the Board.
SECTION 3. This act shall become effective July 1, 2025.
SECTION 4. It being immediately necessary for the pr eservation
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 and approval.
COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS
February 20, 2025 - DO PASS AS AMENDED BY CS