PUBLIC FUNDS
2022 Okla. Sess. Law Serv. Ch. 319 (H.B. 3349) (WEST)
2022 Okla. Sess. Law Serv. Ch. 319 (H.B. 3349) (WEST)
OKLAHOMA 2022 SESSION LAW SERVICE
Fifty-Eighth Legislature, 2022 Second Regular Session
CHAPTER 319
H.B. No. 3349
PUBLIC FUNDS
An Act relating to public funds; creating the Statewide Recovery Fund; establishing fund characteristics; limiting appropriations and transfer authority; requiring certain deposits of certain monies; providing exception; directing deposits of certain interest and income to certain fund; providing for codification; and declaring an emergency.
SUBJECT: Public funds
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified in the Oklahoma Statutes as Section 255 of Title 62, unless there is created a duplication in numbering, reads as follows:
<< OK ST T. 62 § 255 >>
A. There is hereby created in the State Treasury a special fund to be designated the “Statewide Recovery Fund”. Said fund shall be subject to legislative appropriation or transfer as provided by law and shall consist of:
1. All such monies as the Legislature may direct to be appropriated or transferred to said fund; and
2. All such monies received by the state after the effective date of this act pursuant to the American Rescue Plan Act of 2021, Public Law No. 117–2, Section 604 “Coronavirus Capital Projects Fund” and Section 9901 “Coronavirus State and Local Recovery Funds”, less and except the funds dedicated to the Nonentitlement Units of Local Government as described in the American Rescue Plan Act of 2021.
B. Notwithstanding any provision of law to the contrary, all interest and income derived from deposits to the Statewide Recovery Fund shall be credited to the Statewide Recovery Fund.
SECTION 2. It being immediately necessary for the preservation of the public peace, health or safety, an emergency is hereby declared to exist, by reason whereof this act shall take effect and be in full force from and after its passage and approval.
In accordance with Article VI, Section 11, of the Oklahoma Constitution, House Bill 3349 has become law without the Governor’s signature. It was filed with the Oklahoma Secretary of State on May 25, 2022.
| End of Document |