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Bill > SB262
OK SB262
OK SB262Oklahoma Housing Finance Authority; creating the Oklahoma Rental Assistance Grant Program. Effective date. Emergency.
summary
Introduced
02/03/2025
02/03/2025
In Committee
02/04/2025
02/04/2025
Crossed Over
Passed
Dead
Introduced Session
2025 Regular Session
Bill Summary
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.
AI Summary
This bill establishes the Oklahoma Rental Assistance Grant Program, which will be administered by the Oklahoma Housing Finance Agency to help people who were evicted during the COVID-19 pandemic. The program will be funded through a combination of legislative appropriations, federal funds, and private donations, which will be collected in a new Oklahoma Rental Assistance Revolving Fund. This fund will be a continuing, non-fiscal-year-limited account in the State Treasury, allowing the Agency to receive and spend money specifically for rental assistance. The Oklahoma Housing Finance Agency will be responsible for creating rules to implement the program, and the fund will be used to provide rental subsidies to eligible individuals. The bill is set to become effective on July 1, 2025, but also includes an emergency clause that allows for immediate implementation upon passage and approval, highlighting the urgent need to address housing instability resulting from the pandemic.
Committee Categories
Labor and Employment
Sponsors (1)
Last Action
Second Reading referred to Economic Development, Workforce and Tourism Committee then to Appropriations Committee (on 02/04/2025)
Official Document
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