Oklahoma 2025 Regular Session

Oklahoma Senate Bill SB92 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SENATE FLOOR VERSION - SB92 SFLR Page 1
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	3	+	Req. No. 1714 Page 1 1
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29		-	SENATE FLOOR VERSION
30		-	February 20, 2025
	28	+	STATE OF OKLAHOMA
31	29
	30	+	1st Session of the 60th Legislature (2025)
32	31
33	32		COMMITTEE SUBSTITUTE
34	33		FOR
35		-	SENATE BILL ~~NO.~~ 92 By: Bullard of the Senate
	34	+	SENATE BILL 92 By: Bullard of the Senate
36	35
37	36		and
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39	38		Maynard of the House
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	44	+	COMMITTEE SUBSTITUTE
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45	46		[ water and water rights - Investment Program - rule
46	47		promulgation - priority scoring - clawback -
47	48		publication - fund - codification - effective date -
48	49		emergency ]
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53	54		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
54	55		SECTION 1. NEW LAW A new section of law to be codified
55	56		in the Oklahoma Statutes as Section 1085.66 of Title 82, unless
56	57		there is created a duplication in numbering, reads as follows:
57	58		A. 1. The Oklahoma Water Resources Board shall establish and
58	59		administer a Water and Wastewater Infrastructure Investment Program.
59	60		The program shall include development of competitive loans for
60	61		eligible entities seeking to develop and implement wat er or
61	62		wastewater improvement projects. The Board shall promulgate rules
62	63		to effectuate the provisions of this act and loan criteria for the
63	64		program.
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65		-	SENATE FLOOR VERSION - SB92 SFLR Page 2
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	66	+	Req. No. 1714 Page 2 1
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91	91		2. Loan applications shall be ranked on criteria including, but
92	92		not limited to, the critical nature of the project, available
93	93		financing for the project, conservation and fiscal sustainability
94	94		efforts as demonstrated by participation in or complet ion of the
95	95		Long Range Sustainability Program administered by the Oklahoma Rural
96	96		Water Association, and pledge of mat ching funds, either through the
97	97		entity or a third-party source.
98	98		3. For the purposes of this section, “eligible entity” or
99	99		“eligible entities” means an eligible entity as defined pursuant to
100	100		Section 1085.32 of Title 82 of the Oklahoma Statutes .
101	101		B. All loans authorized pursuant to the provisions of this act
102	102		shall include a clawback provision in the funding agreement with an
103	103		eligible entity. For purposes of this subsection, a “clawback
104	104		provision” shall mean a condition precedent to participate in the
105	105		program whereby a loan recipient agrees in writing, signed by all
106	106		parties, to reimburse the program all or any part of the loan
107	107		disbursed to the recipient upon the failure of the recipient to
108	108		fulfill loan contract terms.
109	109		C. The Board shall create a nd publish an interactive map on the
110	110		Board’s website displaying critical infrastructure needs and
111	111		proposed projects to be completed pursuant to the provi sions of this
112	112		act. The map shall also display the status of proposed and approved
113	113		projects, estimated completion da tes, and any other information
114	114		deemed necessary by the Board.
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116		-	SENATE FLOOR VERSION - SB92 SFLR Page 3
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142	141		D. Any eligible entity receiving monies pursuant to the Water
143	142		and Wastewater Infrastructure Investment Program shall prioritize
144	143		the utilization of contractors, businesses, and othe r vendors that
145	144		are based in this state.
146	145		SECTION 2. NEW LAW A new section of law to be codified
147	146		in the Oklahoma Statutes as Sectio n 1085.67 of Title 82, unless
148	147		there is created a duplication in numbering, reads as follows:
149	148		A. 1. There is hereby created in the State Treasury a
150	149		revolving fund for the Oklahoma Water Resources Board to be
151	150		designated the “Water and Wastewater Infrastruc ture Investment
152	151		Revolving Fund”. The fund shall be a continuing fund, not subject
153	152		to fiscal year limit ations, and shall consist of all monies
154	153		appropriated pursuant to Section 3 of this act. All monies accruing
155	154		to the credit of the fund are hereby appropr iated and may be
156	155		budgeted and expended by the Board for the purposes provided in this
157	156		act. The Board may enter into contracts with financial institutions
158	157		and execute such instruments as may be necessary to hold and
159	158		disseminate loan funds in accordance wit h applicable regulations and
160	159		Board policies.
161	160		2. Notwithstanding any other provisions of law, income an d
162	161		investment return on fund principal and interest income and
163	162		repayment of principal on loans made from the balance of the fund
164	163		shall accrue to the fund.
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166		-	SENATE FLOOR VERSION - SB92 SFLR Page 4
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192	190		B. 1. The Board may have full discretion of all monies within
193	191		the fund for enhancements, leveraging, and reserve capacities for
194	192		the Board loan and grant programs, system evaluation and risk
195	193		assessment assistance, and long -range infrastructure planning.
196	194		2. The Board may reserve up to two percent (2%) per year from
197	195		the fund for the purpose of administerin g the Water and Wastewater
198	196		Infrastructure Investment Program. Any remaining funds may be
199	197		allocated to satisfy the purposes of paragraph 1 of this subsec tion.
200	198		C. The funds remaining following reserves and allocations made
201	199		pursuant to subsection B of this section shall be loaned to eligible
202	200		entities as prescribed by the program. Loan monies shall be
203	201		allocated based on the most current census data availabl e from the
204	202		Federal Decennial Census or American Community Survey and shall be
205	203		as follows:
206	204		1. Twenty-five percent (25%) of the allocated funds shall be
207	205		for approved projects located within a municipality or county with a
208	206		population of more than four hundre d thousand (400,000), or the
209	207		equivalent thereof for other eligible entities as prescribed by the
210	208		Board;
211	209		2. Twenty-five percent (25%) of the allocated funds shall be
212	210		for approved projects located within a municipality or county with a
213	211		population that is gr eater than thirty thousand (30,000) but less
214	212		than four hundred thousand (400,000), or the equivalent th ereof for
215	213		other eligible entities as prescribed by the Board; and
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217		-	SENATE FLOOR VERSION - SB92 SFLR Page 5
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243	240		3. Fifty percent (50%) of the allocated funds shall be for
244	241		approved projects located w ithin a municipality or county with a
245	242		population of less than thirty thousand (30,000), or the equivalent
246	243		thereof for other eligible entities as prescribed by the Board.
247	244		SECTION 3. This act shall become effective July 1, 2025.
248	245		SECTION 4. It being immediately necessary for the preservation
249	246		of the public peace, health or safe ty, an emergency is hereby
250	247		declared to exist, by reason whereof this act shall take effect and
251	248		be in full force from and after its passage and approval.
252		-	~~COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS~~
253		-	~~February~~ 20, 2025 ~~- DO PASS AS AMENDED BY CS~~
	249	+
	250	+	60-1-1714 RD 2/20/2025 3:48:04 PM