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Req. No. 13847
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STATE OF OKLAHOMA
2nd Session of the 60th Legislature (2026)
HOUSE BILL 3311 By: Eaves
AS INTRODUCED
An Act relating to the Oklahoma Community Economic
Development Pooled Finance Act; amending 62 O.S.
2021, Section 891.7, which relates to the
infrastructure pool; modifying limits; amending 62
O.S. 2021, Section 891.8, which relates to the
Economic Development Pool; modifying limits; and
providing an effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 62 O.S. 2021, Section 891.7, is
amended to read as follows:
Section 891.7. 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 provide net proceeds on a pooled basis not to exceed One
Hundred Twenty-five Million Dollars ($100,000,000.00)
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($125,000,000.00) for the Infrastructure Pool. The Authority shall
be authorized to issue obligations within the limit prescribed by
this subsection based upon the defeasance of previously issued
obligations.
C. Except as otherwise provided by subsection F of this
section, proceeds from the Infrastructure Pool shall be for the
purpose of providing financing for two or more eligible local
government entities for an authorized infrastructure project located
in this state involving a pooled financing.
D. Sixty-five percent (65%) of the net proceeds from the
Infrastructure Pool shall be used by the Authority for the benefit
of eligible local government entities the population of which,
according to the most recent Federal Decennial Census, does not
exceed three hundred thousand (300,000) persons for any
participating municipality.
E. Thirty-five percent (35%) of the net proceeds from the
Infrastructure Pool may be used by the Authority for the benefit of
any and all eligible local government entities regardless of
population.
F. The proceeds from the Infrastructure Pool may also be used
for the purposes authorized by Section 891.8 of this title.
SECTION 2. AMENDATORY 62 O.S. 2021, Section 891.8, is
amended to read as follows:
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Section 891.8. 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 project using the Economic
Development Pool.
B. The Authority shall be authorized to issue its obligations
in order to provide net proceeds on a pooled basis not to exceed One
Hundred Twenty-five Million Dollars ($100,000,000.00)
($125,000,000.00) for the Economic Development Pool. The Authority
shall be authorized to issue obligations within the limit prescribed
by this subsection based upon the defeasance of previously issued
obligations.
C. Except as otherwise provided by subsection G of this
section, proceeds from the Economic Development Pool shall be for
the purpose of providing financing for an eligible local government
entity or entities or for the benefit of a business entity for an
authorized economic development project located in this state.
D. Sixty-five percent (65%) of the net proceeds from the
Economic Development Pool shall be used by the Authority for the
benefit of eligible local government entities the population of
which, according to the most recent Federal Decennial Census, does
not exceed three hundred thousand (300,000) persons for any
participating municipality.
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E. Thirty-five percent (35%) of the net proceeds from the
Economic Development Pool may be used by the Authority for the
benefit of any and all eligible local government entities regardless
of population.
F. Obligations issued pursuant to the provisions of this
section may be issued on a tax-exempt basis if the applicable
provisions of federal law governing private activity bonds allow
such issuance. Otherwise, the obligations issued pursuant to the
provisions of this section shall be issued on a taxable basis.
G. The proceeds from the Economic Development Pool may also be
used for the purposes authorized by Section 891.7 of this title.
SECTION 3. This act shall become effective November 1, 2026.
60-2-13847 ZSL 12/09/25