Bill > HB1926

This bill appropriates $30 million from Oklahoma's General Revenue Fund to the Oklahoma Department of Commerce for fiscal year 2025-2026, specifically to support a lending program in collaboration with Community Development Financial Institutions (CDFIs) that are certified by the U.S. Small Business Administration. These CDFIs will use the funds to provide loans to small business entities, which aims to support economic development by helping small businesses access capital. The bill has an effective date of July 1, 2025, and includes an emergency clause, which means it will take effect immediately upon passage and approval. By partnering with certified CDFIs, the bill seeks to create a mechanism for targeted financial support to small businesses in Oklahoma, potentially helping them start, sustain, or expand their operations.

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb1926&Session=2600