Bill > SB938

This bill creates the Municipal Workforce Housing Development Grant Program to help municipalities increase the availability of workforce housing in Oklahoma. The bill defines "workforce housing" as housing for households earning between 60% and 120% of the county's median income, and requires municipalities to develop a comprehensive plan that includes an assessment of existing housing, future housing needs, land use, and current housing programs. The Oklahoma Housing Finance Agency will administer the grant program, offering one-time grants to municipalities based on the potential of their housing plans to increase workforce housing availability. Grant recipients must enter into an agreement with the agency, which will include conditions for fund disbursement, potential repayment requirements, and mandatory quarterly reporting on plan implementation. The bill also establishes a revolving fund in the state treasury to support the program, which can receive public and private donations, legislative appropriations, and other contributions. The program is set to become effective on July 1, 2025, with an emergency clause allowing immediate implementation upon passage.

Labor and Employment

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb938&Session=2600