A. The governing board of an entity described by subsection A or B of Section 4 of this act¹ 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:

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.