Bill > SB265

This bill creates the Oklahoma Water Infrastructure Loan Program and establishes a corresponding Revolving Fund to support water infrastructure improvements across the state. The Oklahoma Water Resources Board will administer the program, offering low-interest loans and grants to municipalities, rural water districts, and other eligible entities for projects such as constructing, repairing, and rehabilitating water treatment plants, pipelines, storage facilities, and initiatives focused on water quality and conservation. The Board will develop rules for project eligibility and application procedures, and must submit an annual report to state leadership detailing fund revenues, expenditures, financed projects, and future funding needs. The new Revolving Fund will be housed in the State Treasury and can receive money from various sources including proceeds from surplus water sales, water rights leasing fees, grants, donations, and investment returns. Notably, at least 10% of the fund's annual revenue must be allocated to projects in rural or underserved communities. The bill includes an emergency clause, meaning it will take effect immediately upon passage and approval, highlighting the urgent nature of addressing water infrastructure needs in Oklahoma.

Agriculture and Natural Resources, Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb265&Session=2500