Title 62 — Title 62 — Public Finance

This act shall be known and may be cited as the “Oklahoma Housing Reinvestment Program Act”. Added by Laws 2002, c. 344 , § 1, eff. Jan. 1, 2003.

As used in this act: 1. “Governing body” means the city council of a city, the board of trustees of a town or the board of county commissioners of a county; 2. “Housing reinvestment district” means a district created pursuant to the provisions of Section 5 of this act; and 3. “Ta…

It is hereby declared to be the purpose of the Oklahoma Housing Reinvestment Program Act to encourage reinvestment in housing in those areas of this state for which a demonstrated need for housing exists but is not met through existing public and private efforts by authorizing lo…

Pursuant to the provisions of Section 6C of Article X of the Oklahoma Constitution, a municipality or county may provide an exemption from ad valorem taxes in a housing reinvestment district pursuant to the provisions of this act. A school district or taxing entity other than a m…

- Adoption of ordinance or resolution - Initiative and referendum. A. The governing body of a municipality or county may establish a housing reinvestment district as follows: 1. A housing reinvestment district may only be created in a municipality or county with a population of l…

Limit on amount. A. Upon creation of a housing reinvestment district pursuant to the provisions of Section 5 of this act, there shall be granted exemptions from ad valorem taxes upon property that qualifies for a homestead exemption as follows: 1. A newly constructed residence lo…

The provisions of the Oklahoma Housing Reinvestment Program Act shall cease to be effective January 1, 2013; provided, any exemption granted pursuant to the Oklahoma Housing Reinvestment Program Act prior to January 1, 2013, which will extend for a period of time after such date …

62 O.S. § 89.10 Repealed by Laws 2010, c. 413, § 30, eff. July 1, 2010

A. The State Treasurer shall develop and implement a system of procedures to record and audit all transactions, including electronic investment bidding transactions with outside financial concerns. Said system of procedures shall be promulgated pursuant to the Administrative Proc…

than competitive market rate. In order to help provide for the capital needs of this state, the State Treasurer may invest monies at less than competitive market rates with financial institutions of this state. Not more than ten percent (10%) of all monies available to the State …

A. The State Treasurer is directed to invest the maximum amount of funds under control of the State Treasurer consistent with good business practices. Except as otherwise provided for by law, the investments shall earn not less than the rate for comparable maturities on United St…

Records in the State Treasurer's office shall be subject to public inspection in accordance with Section 24, Title 51, Oklahoma Statutes 1971. Added by Laws 1974, c. 22, § 4.

compensation. A. There is hereby created in the State Treasury a revolving fund for the Office of the State Treasurer to be designated the "State Treasurer's Revolving Fund". The fund shall be a continuing fund not subject to fiscal year limitations, and shall consist of all moni…

A. The State Treasurer may charge and collect the following fees: 1. For any returned check or electronic debit that is returned, a fee of Twenty-five Dollars ($25.00); 2. For handling and processing rejected warrant items processed by the State Treasurer, a fee of Five Dollars (…

A. The State Treasurer shall prepare monthly and annual investment performance reports of the State Treasurer's Office in the form and manner required by the Cash Management and Investment Oversight Commission after consultation with the State Treasurer which summarize recent mar…

and employee nepotism - Forms to be prescribed by Attorney General. A. The Attorney General shall prescribe and provide forms to the Office of the State Treasurer for sworn statements and affidavits regarding collusion activities. Such sworn statement form shall be similar to the…

This act shall be known and may be cited as the “Oklahoma Community Economic Development Pooled Finance Act”. Added by Laws 2009, c. 309, § 1, eff. July 1, 2009.

Prioritized list - Authority for the Infrastructure Pool. A. The Oklahoma Department of Commerce shall promulgate rules for purposes of establishing criteria for the funding of authorized infrastructure projects from the proceeds of obligations issued by the Authority for the Inf…

for the Economic Development Pool - For-profit business participation. A. The Oklahoma Department of Commerce shall establish a scoring system in order to evaluate economic development projects to be financed from the proceeds of obligations issued by the Authority for the Econom…

agreements - Withholding taxes. A. As used in this section: 1. “Estimated direct state benefits” means the tax revenues projected by the Oklahoma Department of Commerce to accrue to the state as a result of new direct jobs; 2. “Estimated indirect state benefits” means the indirec…

A. As used in this section: 1. “Authority” means the Oklahoma Development Finance Authority; 2. “Eligible local government entity” means: a. a city, b. a town, c. a county, d. any combination of cities, towns, or counties, or e. a public trust with a beneficiary or beneficiary wh…

A. As used in this section: 1. “Authority” means the Oklahoma Development Finance Authority; 2. “Eligible local government entity” means: a. a city, b. a town, c. a county, d. any combination of cities, towns, or counties, or e. a public trust with a beneficiary or beneficiary wh…

Fund. There is hereby created in the State Treasury a revolving fund for the Oklahoma Development Finance Authority to be designated the "Community Economic Development Pooled Finance Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, an…

Development Pool – Issuance of obligations – Purpose of proceeds. A. The Oklahoma Development Finance Authority shall be authorized to act as a conduit issuer for the benefit of at least one eligible local government entity in conjunction with one or more for-profit business enti…

Scoring system to evaluate projects. A. The Oklahoma Department of Commerce shall promulgate rules for purposes of establishing criteria for the funding of authorized infrastructure projects from the proceeds of obligations issued by the Oklahoma Development Finance Authority for…

letter – Positive net benefit rate – Withholding taxes. A. As used in this section: 1. "Estimated direct state benefits" means the tax revenues projected by the Oklahoma Department of Commerce to accrue to the state as a result of new direct jobs and capital spending associated w…

entities. For-profit business entities that participate in the Public- Private Partner Development Pool will not be subject to corporate income tax associated with the segregation and payment of withholding taxes to local government entities when such payment is made for the purp…

The Legislature finds investments for the purpose of economic development of the State of Oklahoma, including but not limited to authorized economic development projects for the purpose of attracting private investment and job creation, public infrastructure to aid development su…

1. "Authority" means the Oklahoma Development Finance Authority; 2. "Bonds" means any form of obligation issued by the Oklahoma Development Finance Authority pursuant to the Oklahoma Community Economic Development Pooled Finance Act; 3. "Business entity" means a corporation, limi…

Act. Unless otherwise provided by the terms, definitions or other provisions of the Oklahoma Community Economic Development Pooled Finance Act, the powers, rights, duties and limitations applicable to the Oklahoma Development Finance Authority pursuant to the provisions of the Ok…

Participation in Community Economic Development Pooled Finance Revolving Fund. A. To the extent that the provisions of the Credit Enhancement Reserve Fund Act are consistent with the provisions of the Oklahoma Community Economic Development Pooled Finance Act, the provisions of t…

A. No bonds or other obligations issued by the Authority pursuant to the provisions of the Oklahoma Community Economic Development Pooled Finance Act shall be considered or deemed to be general obligations of the State of Oklahoma. Such bonds or other obligations shall be special…

A. The Authority shall be authorized to act as a conduit issuer for the benefit of two or more eligible local government entities for an authorized infrastructure project using the Infrastructure Pool. B. The Authority shall be authorized to issue its obligations in order to prov…

A. The Authority shall be authorized to act as a conduit issuer for the benefit of one or more eligible local government entities or for the benefit of one or more local government entities in conjunction with a for-profit business entity for an authorized economic development pr…

A. With respect to an eligible project financed through the Infrastructure Pool, local government entities shall be required to be financially responsible for the repayment of the debt issued by the Oklahoma Development Finance Authority. B. With respect to obligations incurred b…

A. Municipalities that adopt ordinances, resolutions, or regulations for the implementation and collection of development fees shall provide that such development fees are adopted and governed pursuant to the provisions of this section. As used in this section: 1. “Development fe…

bonds or other indebtedness. A. At least thirty (30) days after the approval for a vote on a bond or other evidence of indebtedness to be issued by the local government entities described in subsection C of this section, the governing board of such entity shall cause to be publis…

§ 64, eff. July 1, 2009.

§ 64, eff. July 1, 2009.

§ 64, eff. July 1, 2009.

Custodial Fee Revolving Fund. A. The State Treasurer may implement and engage in a securities lending program. As used in this section, "securities lending program" means any program, arrangement or agreement whereby the state deposits securities with a federally or state-charter…

This act shall be known and may be cited as the “Rural Economic Development Loan Act”. Added by Laws 2002, c. 486, § 1, eff. Jan. 1, 2003.

As used in the Rural Economic Development Loan Act: 1. "Department" means the Oklahoma Department of Agriculture, Food, and Forestry; 2. "Financial institution" means any office or branch of a bank, savings bank, savings association, building and loan association, savings and loa…

There is hereby created the Rural Economic Development Loan Program. The Oklahoma Department of Agriculture, Food, and Forestry shall administer the Program, under which reduced rate loans may be made by participating financial institutions to finance qualified economic developme…

62 O.S. § 90.4 Repealed by Laws 2013, c. 118, § 27, eff. Nov. 1, 2013

Certification of good standing. A. A participating financial institution that desires to make a rural economic development loan shall accept and review applications for loans in connection with qualified economic development projects. A package of more than one rural economic dev…

- Certification of compliance - Forwarding of payments - State liability. A. Loans made pursuant to applications approved by the Oklahoma Department of Agriculture, Food, and Forestry shall be subject to the availability of funds pledged to the Rural Economic Development Loan Rev…

The Department, in consultation with the State Banking Commissioner, shall promulgate rules and prescribe forms to implement the provisions of the Rural Economic Development Loan Act, which shall include, but not be limited to, those necessary to effect contractual arrangements b…

There is hereby created in the State Treasury a revolving fund for the Oklahoma Department of Agriculture, Food, and Forestry to be designated the "Rural Economic Development Loan Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and sh…

gross payroll. No employment created pursuant to the provisions of this act shall be counted in a determination of “gross payroll” pursuant to the Oklahoma Quality Jobs Program Act, the Saving Quality Jobs Act, the Former Military Facilities Development Act or the Small Employer …