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2023 Oklahoma Statutes › Title 62. Public Finance › §62-896.1. Local government website - Notice after approval of 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 published on that local government website:
1. A description of the projects or assets that will be acquired, improved or repaired with the proceeds from the issuance of the bonds;
2. A description of any unpaid or unfinished bond approved by the voters of that jurisdiction preceding the date of the vote on the bonds to be issued; and
3. A detailed description of the use of the previous bond proceeds. If the bond proceeds were used to acquire or improve real property, the description shall include a physical address using a street number or some other method by which the location of the property can be identified.
B. If the local government entity does not have a website, then it shall make the information accessible through some other method using the Internet to persons who reside in the geographic area of the local government entity. Should there be no reasonable method as described in this section, the entity shall cause the information to be published at least once in a newspaper of general circulation in the geographic area in which the voters of the local government jurisdiction reside.
C. The provisions of subsection A of this section shall be applicable to any bond or other evidence of indebtedness the repayment of which requires either a sinking fund millage rate pursuant to Section 26 of Article X of the Oklahoma Constitution, or bonds issued pursuant to the authority of Section 35 of Article X of the Oklahoma Constitution or pursuant to any provisions contained in any other provision of Article X of the Oklahoma Constitution to the extent not otherwise specifically identified in this section, which shall include:
1. Counties;
2. Cities;
3. Towns;
4. Common school districts;
5. Career technology districts;
6. Emergency Medical Service Districts; and
7. Solid waste management districts.
D. The provisions of this section shall not be applicable to obligations issued by a trust organized pursuant to the provisions of Section 176 et seq. of Title 60 of the Oklahoma Statutes.
Added by Laws 2017, c. 62, § 2, eff. Nov. 1, 2017.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-901.1. List of proposed projects

A. The Long-Range Capital Planning Commission shall submit an itemized list of the proposed projects set forth in its annual capital plan to the Governor, the President Pro Tempore of the Senate and the Speaker of the House of Representatives within the first seven (7) legislative days of a regular legislative session. The list shall be in the order of the priority of the projects as determined by the Commission. The submission to such elected officials shall occur upon the same date for purposes of computing the time within which action must be taken as further prescribed by this subsection. The Legislature shall have a period of forty-five (45) calendar days from the date on which the list is submitted to pass a concurrent resolution disapproving any or all of the proposed projects. If the Legislature does not disapprove any proposed project by concurrent resolution by the end of the forty-fifth day following the date upon which the proposed issuance is submitted, the proposed projects shall be deemed to have been approved by the Legislature.
B. Upon approval of all or any part of the list of proposed projects, the Office of Management and Enterprise Services may expend funds in the Maintenance of State Buildings Revolving Fund for approved projects in the order of priority set forth in its annual capital plan.
C. In the event an emergency has been declared as provided for in Section 130 of Title 61 of the Oklahoma Statutes, and as a result thereof, repair or maintenance of a capital facility held by the state is required, a state agency may submit a request to the Director of the Office of Management and Enterprise Services to substitute the emergency project for any other project or projects of the state agency on the approved current fiscal year's Capital Improvement Plan list, or to add the emergency project if the state agency does not have any projects on the approved current fiscal year's Capital Improvement Plan list; provided:
1. The Director determines that there are funds available in the Maintenance of State Buildings Revolving Fund to cover all or part of the cost of the emergency project; and
2. The Director submits information on the emergency project and the cost thereof to the President Pro Tempore of the Senate and the Speaker of the House of Representatives and they approve the substitution within five (5) calendar days of such submission.
D. The Director has authority to redirect funds within the Maintenance of State Buildings Revolving Fund for emergency projects approved by the President Pro Tempore of the Senate and the Speaker of the House of Representatives.
Added by Laws 2013, c. 209, § 10, eff. July 1, 2013. Amended by Laws 2016, c. 388, § 1.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-911. Definitions.

As used in the Local and Regional Capital Improvement Planning Process Act, unless otherwise indicated:
1. "Capital improvement plan" means a document or interrelated document containing the elements established under the provisions of subsection D of Section 5 of this act, including the strategies for an implementation program which are consistent with the goals and guidelines established under the Local and Regional Capital Improvement Planning Process Act;
2. "Local planning committee" means the committee established by the officers of a unit of local government or combination of units of local governments which has the general responsibility established under Section 5 of this act. If a unit of local government has an existing planning department or other such entity, the unit may utilize that entity as its local planning committee;
3. "Person" means an individual, corporation, governmental agency, county, municipality, trust, estate, partnership, association or any other legal entity;
4. "Regional council" means a regional commission or a council of governments established under the provisions of the Interlocal Cooperation Act, and which has as its primary purpose joint planning for units of local government and consists of Grand Gateway Economic Development Association, Eastern Oklahoma Development District, Kiamichi Economic Development District of Oklahoma, Southern Oklahoma Development Association, Central Oklahoma Economic Development District, Indian Nations Council of Governments, Northern Oklahoma Development Association, Association of Central Oklahoma Governments, Association of South Central Oklahoma Governments, South Western Oklahoma Development Authority and Oklahoma Economic Development Association;
5. "Reviewing authority" means the planning board, agency or office of a unit of local government or if none, the elected officers of such unit;
6. "Special district" means a rural water district, conservation district, rural road improvement district, sewer protection district, fire protection district and districts established pursuant to the Interlocal Cooperation Act; and
7. "Unit of local government" means a municipality, county or special district.
Added by Laws 1992, c. 330, § 4, emerg. eff. May 28, 1992.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2001. Legislative findings.

The Legislature finds that general economic conditions in rural areas of the State of Oklahoma reflect reduced individual earning power, relatively lower returns on business investment and the corresponding effects upon fiscal capacity of political subdivisions the geographical area of which consists primarily of unincorporated areas or relatively small municipalities. In order to remove impediments to economic development in rural areas, in order to alleviate the sometimes negative effects of lower population density, population decreases, and increased demand for governmental services and in order to maintain a desirable quality of life for residents and other legal entities in rural areas, the Legislature hereby establishes a procedure pursuant to which public funds may be used in a flexible manner for the general improvement of living and working conditions in predominantly rural areas of the State of Oklahoma for which an identifiable need has been determined.
Added by Laws 1996, c. 193, § 2, eff. July 1, 1996.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2002.1. Rural Economic Action Plan Water Projects Fund.

A. There is hereby created the “Rural Economic Action Plan Water Projects Fund”. The fund shall be subject to legislative appropriation and shall consist of all monies deposited into the fund by law. The fund shall be a continuing fund not subject to fiscal year limitations.
B. The Rural Economic Action Plan Water Projects Fund may be used for any purpose as authorized by law.
Added by Laws 2004, c. 500, § 1, eff. July 1, 2004.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2006. Rural Economic Action Plan Fund - Establishment - Accounts.

A. There is hereby established a fund within the State Treasury to be known as the Rural Economic Action Plan Fund, to be administered by the Oklahoma Department of Commerce. The fund shall be a continuing fund not subject to fiscal year limitations. Within the Rural Economic Action Plan Fund there shall be established separate accounts as prescribed by Section 2004 of this title into which shall be deposited such funds as may be provided by law.
B. Except as otherwise provided by Section 2004 of this title, one of nine accounts shall be available to each entity described in subsection A of Section 2007 of this title.
C. Except as otherwise provided by Section 2004 of this title, one account shall be divided equally into two subaccounts. One of the two subaccounts shall be available to each of the entities described by subsection B of Section 2007 of this title for distribution to any city or town within the respective jurisdiction of the entity if the population of such city or town does not exceed seven thousand (7,000) persons according to the latest Federal Decennial Census or for the benefit of an unincorporated area. Funds may also be expended for any city or town with a population below seven thousand (7,000) persons based upon the current population estimate according to the U.S. Census Bureau. Funds may be expended for such cities and towns until the next following Federal Decennial Census.
D. No funds deposited into one account or subaccount shall be transferred to any other account. No entity may access any more than one account per fiscal year and the total expenditure from any one account for each fiscal year may not exceed the amount of funds available to each account as may be provided by law.
E. No monies in the Rural Economic Action Plan Fund shall be used for the payment of administrative expenses, salaries or any other continuing obligation of the Oklahoma Department of Commerce.
Added by Laws 1996, c. 193, § 6, eff. July 1, 1996. Amended by Laws 1997, c. 382, § 3, eff. July 1, 1997; Laws 1998, c. 373, § 5, eff. July 1, 1998; Laws 1999, c. 369, § 3, eff. July 1, 1999; Laws 2002, c. 219, § 3, eff. July 1, 2002; Laws 2007, c. 194, § 2, eff. July 1, 2007; Laws 2008, c. 392, § 2, emerg. eff. June 3, 2008.
NOTE: Laws 2006, c. 317, § 2 amended this section to be effective contingent upon a sufficient appropriation. The necessary amount was not appropriated. Laws 2006, c. 317, § 2 repealed by Laws 2009, c. 2, § 18, emerg. eff. March 12, 2009.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2008. Plans for use of funds - "Economic development" defined - Fund allocation.

A. The governing board of an entity described by subsection A or B of Section 2007 of this title shall develop a plan for the use of available funds for the economic development of areas included within its respective jurisdiction. For purposes of this act, "economic development" shall include, but shall not be limited to, the following purposes:
1. Rural water quality projects, including acquisition, treatment, distribution and recovery of water for consumption by humans or animals or both;
2. Rural solid waste disposal, treatment or similar projects;
3. Rural sanitary sewer construction or improvement projects;
4. Rural road or street construction or improvement projects;
5. Provision of rural fire protection services and public safety services;
6. Expenditures designed to increase the employment level within the jurisdiction of the entity;
7. Provision of health care services, including emergency medical care, in rural areas;
8. Construction or improvement of telecommunication facilities or systems;
9. Improvement of municipal energy distribution systems; and
10. Community buildings, courthouses, town halls, senior nutrition centers, meeting rooms or similar public facilities.
B. Effective July 1, 2010, at least eighty percent (80%) of any funds distributed to an entity as provided by this section shall be expended for assets described in paragraphs 1 through 6 of subsection A of this section. The remaining amount of any funds distributed to an entity as provided by this section may be expended on assets or purposes described in paragraphs 7 through 10 of subsection A of this section.
C. Not later than July 31, each entity described by Section 2007 of this title shall transmit, in such electronic form as may be prescribed by the Oklahoma Department of Commerce for purposes of access to such information on the website maintained by the Department, a summary of each project upon which funds received by the entity from the Rural Economic Action Plan Fund were expended during the fiscal year ending on the June 30 date immediately preceding the July 31 reporting date.
Added by Laws 1996, c. 193, § 8, eff. July 1, 1996. Amended by Laws 1997, c. 382, § 4, eff. July 1, 1997; Laws 2001, c. 79, § 1, eff. July 1, 2001; Laws 2010, c. 378, § 3.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2009. Filing of plan - Approval by governing board.

A. In order for an eligible entity to obtain funds provided for by Section 2006 of this title, the entity shall file the organizational plan required by Section 2008 of this title with the Oklahoma Department of Commerce.
B. In order to be filed, the plan shall have first been approved by an affirmative vote of two-thirds (2/3) of the governing board of an entity described by subsection A or B of Section 2007 of this title. The vote shall be memorialized in a document, executed under oath, that the record of the vote is a true and accurate account of the proceedings conducted by the governing board to be filed with the Oklahoma Department of Commerce.
Added by Laws 1996, c. 193, § 9, eff. July 1, 1996. Amended by Laws 1997, c. 236, § 2, eff. July 1, 1997; Laws 2008, c. 392, § 3, emerg. eff. June 3, 2008.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2010. Matching funds not to be required.

No entity which qualifies for funds pursuant to Section 2006 of this title shall be required to provide matching funds or to provide equivalent value in order to obtain available funds or funds for planning expenditures.
Added by Laws 1996, c. 193, § 10, eff. July 1, 1996. Amended by Laws 1997, c. 382, § 5, eff. July 1, 1997.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2011. Administrative expenses not to be paid from Rural Economic Action Plan funds - Treble damages - Initial planning expenditures.

A. Except as otherwise provided by subsection C of this section, the funds available pursuant to the provisions of Section 2006 of this title shall not be used to pay any administrative expenses of the entity requesting the funds. The Oklahoma Department of Commerce shall monitor expenditures made pursuant to the Rural Economic Action Plan Act to ensure compliance with the provisions of this section. Such funds shall be audited by the State Auditor and Inspector in the manner provided by law for audits of other state funds. Misuse of funds by an entity shall disqualify the entity from further funding for a period of one (1) year from the date as of which any report by the Oklahoma Department of Commerce is issued revealing a violation of the requirements of this section.
B. Except for funds authorized by subsection C of this section, an entity which violates the provisions of this section shall be liable to the State of Oklahoma for treble the amount of funds identified as having been impermissibly used for the payment or reimbursement of administrative expenses. The payment shall be made to the Oklahoma Department of Commerce for deposit in the Rural Economic Action Plan Fund and such funds shall become available for distribution as otherwise provided by Section 2001 et seq. of this title except that no such funds shall be paid to an entity which has been required to make the treble damage payment.
C. Upon verification by the Oklahoma Department of Commerce that an entity is qualified to receive funds for a purpose authorized by this section, the entity shall be eligible for an initial planning expenditure payment of not to exceed five percent (5%) of the amount contained in the account created for the entity pursuant to Section 2006 of this title.
Added by Laws 1996, c. 193, § 11, eff. July 1, 1996. Amended by Laws 1997, c. 236, § 3, eff. July 1, 1997; Laws 1998, c. 373, § 6, eff. July 1, 1998; Laws 2008, c. 392, § 4, emerg. eff. June 3, 2008.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2013. Function and purpose of expenditures.

The expenditures from the Rural Economic Action Plan Fund and other expenditures governed by this act, if made in accordance with the requirements of this act, shall be construed as an expenditure of public funds in furtherance of governmental functions and for the purpose of conferring general and uniform benefits resulting from the expenditures upon the residents and other legal entities located in areas subject to the jurisdiction of the entities described in subsection A or B of Section 2007 of this title.
Added by Laws 1996, c. 193, § 13, eff. July 1, 1996. Amended by Laws 1997, c. 382, § 6, eff. July 1, 1997.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2021. Oklahoma Disaster Mitigation and Recovery Matching Fund.

A. There is hereby established a fund within the State Treasury to be known as the Oklahoma Disaster Mitigation and Recovery Matching Fund, to be administered by the Oklahoma Department of Commerce. The fund shall be a continuing fund not subject to fiscal year limitations. Within the Oklahoma Disaster Mitigation and Recovery Matching Fund there shall be established separate accounts as prescribed by Section 4 of this act into which shall be deposited such funds as may be provided by law.
B. One of nine accounts shall be available to each entity described in subsection A of Section 4 of this act.
C. One account shall be divided equally into two subaccounts. One of the two subaccounts shall be available to each of the entities described by subsection B of Section 4 of this act for distribution to any city or town within the respective jurisdiction of the entity or for the benefit of an unincorporated area.
D. No funds deposited into one account or subaccount shall be transferred to any other account. No entity may access any more than one account per fiscal year and the total expenditure from any one account for each fiscal year may not exceed the amount of funds available to each account as may be provided by law.
E. No monies in the Oklahoma Disaster Mitigation and Recovery Matching Fund shall be used for the payment of administrative expenses, salaries, or any other continuing obligation of the Oklahoma Department of Commerce.
Added by Laws 2022, c. 348, § 3, eff. July 1, 2022.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2022. Eligibility to obtain funding.

A. A voluntary association of Oklahoma local governmental jurisdictions or another legal entity, including a public trust or a nonprofit corporation or other entity which performs functions for the benefit of or which exists for the primary benefit of Oklahoma local governmental jurisdictions and which is not described in subsection B of this section, shall be eligible to obtain funding for rural hazard mitigation projects as authorized by Section 5 of this act.
B. A voluntary association of Oklahoma local governmental jurisdictions containing at least one municipality with a population in excess of three hundred fifty thousand (350,000) persons according to the latest Federal Decennial Census shall be eligible to obtain funding as authorized by Section 5 of this act.
C. The entities described in subsection A or B of this section and which are eligible for any funds authorized by Section 5 of this act may make expenditures on behalf of any city or town using funds deposited to the Oklahoma Disaster Mitigation and Recovery Matching Fund created by Section 3 of this act.
D. An organization described in subsection A or B of this section shall be authorized to make payment of funds obtained pursuant to Section 5 of this act directly to a county if the funds are used for the benefit of an unincorporated area located within the county to which payment is made. After the county has provided a request to an organization described in subsection A or B of this section for funds to benefit an unincorporated area of the county, together with a statement that the county has conducted a review of the needs of unincorporated areas located within the county and that the funding requested is consistent with the evaluation of priorities for funds by the county, the funds requested may be paid to the county. Any funds paid to a county pursuant to the provisions of this subsection shall be expended by the county exclusively for the purpose identified in the request and as required by the provisions of this act.
E. No county to which funds are paid pursuant to the provisions of subsection D of this section shall be liable to any person or other legal entity for damages arising out of any condition, act, omission, or other cause alleged to have arisen as a result of a project upon which funds expended pursuant to the authority of subsection D of this section were paid to the county.
Added by Laws 2022, c. 348, § 4, eff. July 1, 2022.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2023. Plan for funds to provide matching amounts.

A. The governing board of an entity described by subsection A or B of Section 4 of this act shall develop a plan for the use of available funds for providing matching amounts as required pursuant to the terms of applicable federal law to obtain federal funds for the prevention of damage or to repair damages caused by a qualifying hazard within areas included within its respective jurisdiction. For purposes of this act, "qualifying hazard" shall include, but shall not be limited to, potential damage or actual damages caused by any one or more of the following conditions or causes:
1. High winds;
2. Tornadoes;
3. Hail;
4. Rain;
5. Flooding;
6. Freezing rain or ice;
7. Heavy snow;
8. Wildfires;
9. Seismic disturbances; or
10. Other hazardous condition, whether naturally occurring or resulting from manmade conditions, having the potential to cause or having actually caused damage to public infrastructure assets and for which federal funds may be available pursuant to a declaration of a disaster by the Governor or pursuant to terms of federal law.
B. Not later than July 31, each entity described by Section 4 of this act shall transmit, in such electronic form as may be prescribed by the Oklahoma Department of Commerce for purposes of access to such information on the website maintained by the Department, a summary of each project upon which matching funds received by the entity from the Oklahoma Disaster Mitigation and Recovery Matching Fund were expended during the fiscal year ending on the June 30 date immediately preceding the July 31 reporting date.
C. No entity which qualifies for funds pursuant to the provisions of this act shall be required to provide matching funds or to provide equivalent value in order to obtain available funds or funds for planning expenditures from the Oklahoma Disaster Mitigation and Recovery Matching Fund.
D. No funds allocated pursuant to the provisions of the Oklahoma Disaster Mitigation and Recovery Matching Fund Act shall be used for any purpose other than to provide matching funds, available through the federal government or other sources as authorized by law, to maximize and leverage such available funding, and the funds allocated pursuant to the provisions of this act shall not be used for any direct expenditures on salaries, employee benefits, acquisition of real or personal property, other than the available funding for which the allocated funds may be utilized, or any other purpose.
Added by Laws 2022, c. 348, § 5, eff. July 1, 2022.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2024. Construction of expenditures.

The expenditures from the Oklahoma Disaster Mitigation and Recovery Matching Fund and other expenditures governed by this act, if made in accordance with the requirements of this act, shall be construed as an expenditure of public funds in furtherance of governmental functions and for the purpose of conferring general and uniform benefits resulting from the expenditures upon the residents and other legal entities located in areas subject to the jurisdiction of the entities described in subsection A or B of Section 4 of this act.
Added by Laws 2022, c. 348, § 6, eff. July 1, 2022.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2102. Definitions.

As used in this act:
1. "Community" means a county, city, town or unincorporated place located within the State of Oklahoma having a population of less than seven thousand (7,000) persons, according to the latest Federal Decennial Census;
2. "Establishment" means any legally recognized business entity engaged in manufacturing;
3. "Industrial facility" means real property or personal property or fixtures attached to real property at which an establishment engages in a manufacturing activity within a community if the total area in which the manufacturing takes place does not exceed one hundred thousand (100,000) square feet; and
4. "Manufacturing" means any activity described under any Major Group classification of Division D of the Standard Industrial Classification Manual, latest version.
Added by Laws 1998, c. 252, § 2, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2103. Grant eligibility criteria.

A. For the purpose of developing, constructing, or improving an industrial facility, a community shall be eligible to apply for a grant from the Industrial Facilities Development Fund through the Oklahoma Department of Commerce.
B. In order to be eligible for a grant, the community must establish to the Department that it:
1. Has previously demonstrated an ability to recruit new manufacturing business activity. A community may satisfy this requirement by proving that an establishment has located a manufacturing activity within the community employing at least ten persons not more than five (5) years prior to the date as of which the community makes application for funding; or
2. Employs at least one person on a full-time basis or is benefited by the efforts of at least one full-time employee of a local chamber of commerce or similar organization whose principal duty is the recruitment of new business activity to the community.
C. The community shall include in the application a statement of the estimated total project cost for the industrial facility. The community, or a combination of the community and the establishment for whose benefit the industrial facility will be constructed or improved, shall be required to provide matching funds equal to at least twenty-five percent (25%) of the total cost of the project in order to receive a grant from the Industrial Facilities Development Fund.
Added by Laws 1998, c. 252, § 3, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2104. Application form - Approval - Conditions of grant - Maximum amount - Matching funds - Time limit for completion of projects.

A. Communities making application for a grant from the Industrial Facilities Development Fund shall use a form to be prescribed by the Oklahoma Department of Commerce.
B. The Department shall have a period of sixty (60) days from the date an application is received in order to evaluate the application and to inform the applicant whether the application has been approved or rejected. If the application is rejected, the Department shall state the reason for the rejection.
C. 1. Upon approval of an application, the Department shall cause the amount of the grant to be paid to the applicant. All grants made pursuant to this act shall be paid to the community and shall not be paid directly to the legal entity engaged in the manufacturing activity.
2. The grant may only be used for the development, construction, or improvement of that portion of the project that will be owned by the community or a public trust of which the community is the beneficiary. Provided, however, the community or the public trust, as the case may be, may enter into a lease agreement with an establishment for long-term usage of any portion of the project funded through a grant made pursuant to this act.
D. No community shall be eligible for an award of a grant in excess of One Hundred Fifty Thousand Dollars ($150,000.00) in any one (1) fiscal year.
E. The community making application for a grant shall demonstrate in the application either that the community has already acquired at least twenty-five percent (25%) of the funds required for the total project cost or that a legally enforceable commitment exists as of the application date which will result in the receipt of at least twenty-five percent (25%) of the funds required for the total project cost within ninety (90) days from the date the application is received.
F. Any project for which a grant is provided from the Industrial Facilities Development Fund shall be completed within six (6) months from the date the grant is paid to the applicant pursuant to this section. If an industrial facility has not been completed within the time period prescribed by this subsection, the grant paid to the applicant shall be repaid to the Department and shall be redeposited into the Industrial Facilities Development Fund.
Added by Laws 1998, c. 252, § 4, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2105. Industrial Facilities Development Fund.

There is hereby created in the State Treasury a fund for the Oklahoma Department of Commerce to be designated the "Industrial Facilities Development Fund". The fund shall be subject to legislative appropriation and shall consist of all monies received by the Department for the implementation of the Industrial Facilities Development Act.
Added by Laws 1998, c. 252, § 5, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2106. Expenditures from Fund construed as expenditures of public funds.

The expenditures from the Industrial Facilities Development Fund and other expenditures governed by this act, if made in accordance with the requirements of this act, shall be construed as an expenditure of public funds in furtherance of governmental functions and for the purpose of conferring general and uniform benefits resulting from the expenditures upon the residents and other legal entities located in or near the community qualifying for the receipt of the funds pursuant to this act.
Added by Laws 1998, c. 252, § 6, eff. Nov. 1, 1998.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2202. Provision of services on private land or homes.

In areas of this state that have been declared by the Federal Emergency Management Agency (FEMA) eligible for Public Assistance, state and local governmental entities, and any other entity expending public funds, are hereby authorized to use their employees, property, and other resources, pursuant to this section, to provide services on private land or homes to the extent necessary to aid in disaster relief. Disaster relief shall be designed to assist in removing health and safety hazards and returning homes to a safe and habitable level. The disaster relief shall be limited to the cleanup of debris and repair of damage caused by a natural disaster. The disaster relief shall not be utilized for work relating to general home improvements. No state or local governmental employee or employee of an entity expending public funds, pursuant to this section, shall be assigned to duties which include the provision of disaster relief services unless the employee’s job description includes duties of the same type as are required to provide the disaster relief services or the employee voluntarily agrees to such assignment. Such employees shall not be disciplined or terminated for failure to participate in disaster relief. However, an employee whose job description includes duties of the same type as are required to provide disaster relief services are not exempt from disciplinary action or termination for failure to perform disaster relief duties at the request of his or her employer. The Legislature finds that it is a public purpose to provide disaster relief pursuant to this section.
Added by Laws 1999, c. 382, § 4, eff. July 1, 1999.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2203.3. Prohibitions - Fine.

A. Notwithstanding the provisions of the Emergency Price Stabilization Act, a retailer or wholesaler shall not, in connection with the advertisement or sale of disaster relief materials:
1. Take advantage of the physical or mental impairment or hardship of a person caused by extreme temporary conditions and charge an excessive price for disaster relief materials;
2. Charge within a disaster area an excessive price for any disaster relief materials; or
3. Charge any person an excessive price for disaster relief materials which the seller has reason to know is likely to be provided to consumers within a disaster area.
B. Notwithstanding the provisions of the Emergency Price Stabilization Act, a retailer shall not advertise, offer to sell, or sell at retail disaster relief materials at less than cost to the retailer with the intent and purpose of inducing the purchase of disaster relief materials or of unfairly diverting trade from a competitor or otherwise injuring a competitor, impair and prevent fair competition, injure public welfare, where the result of such advertising, offer or sale is to tend to deceive any purchaser or prospective purchaser, or to substantially lessen competition, or to unreasonably restrain trade, or to tend to create a monopoly in any line of commerce.
C. Notwithstanding the provisions of the Emergency Price Stabilization Act, a wholesaler shall not advertise, offer to sell, or sell disaster relief materials at less than cost to the wholesaler with the intent and purpose of inducing the purchase of disaster relief materials or of unfairly diverting trade from a competitor or otherwise injuring a competitor, impair and prevent fair competition, injure public welfare, where the result of such advertising, offer or sale is to tend to deceive any purchaser or prospective purchaser, or to substantially lessen competition, or to unreasonably restrain trade, or to tend to create a monopoly in any line of commerce.
D. Any person who is found to be in violation of this act shall forfeit and pay a civil penalty of not more than One Thousand Dollars ($1,000.00) per violation. The Attorney General, acting in the name of the state, or a district attorney may petition for recovery of civil penalties.
Added by Laws 2013, c. 400, § 4, eff. Nov. 1, 2013.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2203.4. Civil liability.

A. In addition to the penalties provided by this act, any person injured by any violation, or who shall suffer injury from any threatened violation of this act, may maintain an action in any court of equitable jurisdiction to prevent, restrain or enjoin such violation or threatened violation. If in such action a violation or threatened violation of this act shall be established, the court shall enjoin and restrain or otherwise prohibit such violation or threatened violation and, in addition thereto, shall assess in favor of the plaintiff and against the defendant the cost of suit. In such action if damages are alleged and proved, the plaintiff in the action, in addition to such injunctive relief and costs of suit, shall be entitled to recover actual damages from the defendant.
B. In the event no injunctive relief is sought or required, any person injured by a violation of this act may maintain an action for damages in any court of general jurisdiction, and the measure of damages shall be the same as prescribed in subsection A of this section. Provided, this act shall not authorize suits or actions against newspapers, radio broadcasters, or other advertising agencies through which such advertisements are published, broadcast or otherwise made.
C. Evidence of advertisement, offering to sell, or sale of disaster relief materials by any retailer or wholesaler at less than cost, shall be prima facie evidence of intent to injure competitors and to destroy or substantially lessen competition.
D. Any defendant or any witness in any civil action brought under the provisions of this act may be required to testify. Any defendant or any witness, may, upon proper process, be compelled to produce books, records, invoices and all other documents of the defendant or witness into court and may be introduced as evidence. No defendant or any witness in a civil action shall be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction or matter. The defendant or witness may be required to testify or produce evidence, documentary or otherwise. No testimony thus given or produced shall be received against the defendant or witness upon any criminal proceeding or investigation.
Added by Laws 2013, c. 400, § 5, eff. Nov. 1, 2013.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2203.5. Exemptions.

A. The provisions of this act shall not apply to sales otherwise prohibited by subsections B and C of Section 4 of this act when disaster relief materials are:
1. Sold to relief agencies or for charitable purposes;
2. Sold on contract to departments of the government or governmental institutions;
3. Sold in bona fide clearance sales, if advertised, marked, and sold as such;
4. Imperfect or damaged or are being discontinued and are advertised, marked and sold as such;
5. Sold upon the final liquidation of any business;
6. Sold by any officer acting under the order or direction of any court; or
7. Sold at any bona fide auction sale.
B. A retailer or wholesaler shall not be found to have sold or advertised at less than cost if the materials sold are at a price made in good faith to meet the price of a competitor who is selling the same article or products of comparable quality at cost as a wholesaler or retailer.
C. The price of disaster relief materials advertised, offered for sale, or sold under the exemptions specified in Section 3 of this act, shall not be considered the price of a competitor and shall not be used as a basis for establishing prices below cost, nor shall the price established at a bankrupt sale be considered the price of a competitor.
Added by Laws 2013, c. 400, § 6, eff. Nov. 1, 2013.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2203.6. Prices outside the ordinary channels of trade.

In establishing the cost of merchandise to the retailer or wholesaler, the invoice cost of such disaster relief materials purchased at a forced, bankrupt, closeout sale, or other sale outside of the ordinary channels of trade, may not be used as a basis for justifying a price lower than one based upon the replacement cost of the merchandise to the retailer or wholesaler, within thirty (30) days prior to the date of sale, in the quantity last purchased through the ordinary channels of trade.
Added by Laws 2013, c. 400, § 7, eff. Nov. 1, 2013.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2302. Purpose.

The purpose of the Tobacco Settlement Endowment Trust Fund Act is to further implement the provisions of Section 40 of Article X of the Oklahoma Constitution that:
1. Created the Tobacco Settlement Endowment Trust Fund, the Board of Investors of the Tobacco Settlement Endowment Trust Fund, and the Board of Directors of the Tobacco Settlement Endowment Trust Fund;
2. Directs the apportionment of revenues from settlements with or judgments against tobacco companies between the Tobacco Settlement Endowment Trust Fund and a special fund established for the purpose of receiving tobacco settlement payments not deposited to the trust fund; and
3. Authorizes the Board of Directors of the Tobacco Settlement Endowment Trust Fund to expend trust fund earnings for specific purposes.
Added by Laws 2001, c. 274, § 2, emerg. eff. May 31, 2001.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2303. Tobacco Settlement Endowment Trust Fund – Monies consisting principal.

A. Section 40 of Article X of the Oklahoma Constitution created a trust fund to be known as the “Tobacco Settlement Endowment Trust Fund”. The trust fund principal shall consist of the portion of monies which are received by the State of Oklahoma on or after July 1, 2001, pursuant to any settlement with or judgment against any tobacco company or companies as provided by subsection B of this section, the Fifty Million Dollars ($50,000,000.00) transferred to the Tobacco Settlement Endowment Trust Fund pursuant to Section 29, Chapter 8, 1st Extraordinary Session, O.S.L. 2000, and any other monies that may be appropriated or otherwise directed to the trust fund by the Legislature.
B. The trust fund principal shall consist of monies which are deposited to the trust fund. Notwithstanding any other provisions of law, income and investment return on trust fund principal shall accrue to the trust fund.
Added by Laws 2001, c. 274, § 3, emerg. eff. May 31, 2001.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2304. Appointments to Boards of Investors and Directors of the Tobacco Settlement Endowment Trust Fund – Terms.

A. Appointments to the Board of Investors of the Tobacco Settlement Endowment Trust Fund shall be staggered as provided in this section, pursuant to the provisions of Section 40 of Article X of the Oklahoma Constitution. The initial staggered terms of office of persons appointed prior to April 10, 2001, or persons appointed to fill the remainder of an initial term of office shall be as follows:
1. The term of office of the person appointed by the Speaker of the House of Representatives shall expire June 30, 2001;
2. The term of office of the person appointed by the President Pro Tempore of the Senate shall expire June 30, 2002;
3. The term of office of the person appointed by the Governor shall expire June 30, 2003; and
4. The term of office of the person appointed by the State Auditor and Inspector shall expire June 30, 2004.
Thereafter, persons shall be appointed for terms of four (4) years beginning July 1. Any vacancy shall be filled by the appointing authority for the remainder of the unexpired term.
B. Appointments to the Board of Directors of the Tobacco Settlement Endowment Trust Fund shall be staggered as provided in this section, pursuant to the provisions of Section 40 of Article X of the Oklahoma Constitution. The initial staggered terms of office of persons appointed prior to April 10, 2001, or persons appointed to fill the remainder of an initial term of office shall be as follows:
1. The term of office of the person appointed by the Speaker of the House of Representatives shall expire June 30, 2001;
2. The term of office of the person appointed by the President Pro Tempore of the Senate shall expire June 30, 2002;
3. The term of office of the person appointed by the Governor shall expire June 30, 2003;
4. The term of office of the person appointed by the Attorney General shall expire June 30, 2004;
5. The term of office of the person appointed by the State Treasurer shall expire June 30, 2005;
6. The term of office of the person appointed by the State Auditor and Inspector shall expire June 30, 2006; and
7. The term of office of the person appointed by the State Superintendent of Public Instruction shall expire June 30, 2007.
Thereafter, persons shall be appointed for terms of seven (7) years beginning July 1. Any vacancy shall be filled by the appointing authority for the remainder of the unexpired term.
Added by Laws 2001, c. 66, § 2, emerg. eff. April 10, 2001. Amended by Laws 2001, c. 274, § 4, emerg. eff. May 31, 2001. Renumbered from § 50.1 of this title by Laws 2001, c. 274, § 12, emerg. eff. May 31, 2001.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2305. Board of Investors of the Tobacco Settlement Endowment Trust Fund.

A. Section 40 of Article X of the Oklahoma Constitution created the Board of Investors of the Tobacco Settlement Endowment Trust Fund.
B. The members of the Board of Investors shall receive no salary for serving on the Board. All members shall receive necessary travel expenses for the performance of their duties in accordance with the provisions of the State Travel Reimbursement Act.
C. The terms of the Board of Investors shall be staggered as provided by subsection A of Section 2304 of this title.
D. The Board shall annually elect a vice-chair, who shall preside over meetings in the absence of the State Treasurer, and any other officers, provided that no member shall be elected vice-chair for more than two (2) consecutive years. The Board shall meet at least quarterly.
E. Staffing for the Board of Investors shall be provided by the Office of the State Treasurer.
Added by Laws 2001, c. 274, § 5, emerg. eff. May 31, 2001. Amended by Laws 2002, c. 95, § 4, eff. July 1, 2002.
2023 Oklahoma Statutes › Title 62. Public Finance › §62-2307. Determination of earnings.

A. On or before September 1 of each year, the Board of Investors of the Tobacco Settlement Endowment Trust Fund shall determine the earnings of the trust fund for the previous fiscal year ending June 30. In determining earnings, the Board of Investors shall certify an amount which is prudent under the standard set forth in paragraph C of this section. The earnings so determined and certified by the Board of Investors for each fiscal year shall constitute the earnings of the Tobacco Settlement Endowment Trust Fund for the purposes of Section 40 of Article X of the Oklahoma Constitution.
B. “Earnings” consist of dividends and interest, less fees to manage the fund.
C. In the administration of the powers to determine earnings, to make and retain investments, and to delegate investment management of institutional funds, the Board of Investors shall exercise ordinary business care and prudence under the facts and circumstances prevailing at the time of the action or decision. In so doing, the Board of Investors shall consider:
1. Long- and short-term needs of the trust fund in carrying out its purposes;
2. The present and anticipated financial requirements for programs funded by the Board of Directors of the Tobacco Settlement Endowment Trust Fund;
3. Expected total return on its investments;
4. Price level and inflation trends; and
5. General economic conditions.
Added by Laws 2001, c. 274, § 7, emerg. eff. May 31, 2001. Amended by Laws 2002, c. 95, § 5, eff. July 1, 2002; Laws 2003, c. 149, § 1, emerg. eff. April 28, 2003.