Bill > HB3311

This bill, concerning the Oklahoma Community Economic Development Pooled Finance Act, modifies the financial limits for two key pools managed by the Authority: the Infrastructure Pool and the Economic Development Pool. Specifically, it increases the maximum amount of obligations the Authority can issue for the Infrastructure Pool from $100 million to $125 million, and similarly raises the limit for the Economic Development Pool from $100 million to $125 million. The Infrastructure Pool is designed to finance authorized infrastructure projects for two or more eligible local government entities, with 65% of its proceeds designated for entities in municipalities with populations under 300,000 and 35% available for any eligible entity regardless of population. The Economic Development Pool serves a similar purpose for authorized economic development projects, benefiting one or more local government entities, or a local government entity in conjunction with a for-profit business, and also allocates 65% of its proceeds to smaller municipalities and 35% broadly. This legislation will take effect on November 1, 2026.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb3311&Session=2600