Bill > HB2796

This bill modifies the Oklahoma Disaster Mitigation and Recovery Matching Fund, which is a fund administered by the Oklahoma Department of Commerce to help with disaster recovery efforts. The key changes include giving the Oklahoma Department of Commerce more flexibility in allocating funds across different accounts and subaccounts, removing a previous restriction that prevented transferring funds between accounts. Specifically, the bill allows the department to deposit funds into any account or subaccount as needed, up to the full available amount, to support eligible activities. The bill maintains the original structure of having nine main accounts and a divided tenth account, with each entity still limited to accessing only one account per fiscal year. The legislation also reaffirms that the fund cannot be used for administrative expenses, salaries, or ongoing obligations of the Department of Commerce. The bill is being enacted with an emergency clause, meaning it will take effect immediately upon passage and approval, highlighting the urgent nature of potential disaster recovery needs.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2796&Session=2600