Bill > SB1332

This bill, known as the Targeted Housing and Responsible Infrastructure for Vital Economies (THRIVE) Act, establishes a program administered by the Oklahoma Water Resources Board to provide zero-interest loans for eligible entities undertaking housing development projects that require water, wastewater, or stormwater infrastructure. The program will prioritize applications based on factors like community housing goals, economic development potential, and conservation efforts, and will include a "clawback provision" allowing the program to reclaim disbursed loan funds if contract terms are not met. The Board will publish an annual report detailing project status and outcomes, and recipients must prioritize in-state contractors. A dedicated "THRIVE Communities Program Revolving Fund" will be created to hold and disburse loan monies, with specific allocations based on population size of the project's location, and the Board is authorized to use a portion of the fund for program administration and other related purposes. The act will become effective on November 1, 2026.

Budget and Finance, Labor and Employment

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1332&Session=2600