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STATE OF OKLAHOMA
2nd Session of the 60th Legislature (2026)
SENATE BILL 1600 By: Kirt
AS INTRODUCED
An Act relating to the Oklahoma Housing Finance
Agency; creating the Oklahoma Housing Finance Agency
Board; establishing the composition of the Board;
establishing certain organizational requirements of
the Board; authorizing the Board to elect certain
officers; creating certain procedures for filling
vacancies; establishing certain meeting requirements
of the Board; providing for codification; and
providing an effective date.
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 2904 of Title 74, unless there
is created a duplication in numbering, reads as follows:
A. The Oklahoma Housing Finance Agency Board is hereby created
and shall consist of five (5) public trustees, as follows:
1. One member, to be appointed by the Governor, who shall
possess no less than five (5) years of experience in mortgage or
lending institutions;
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2. One member, to be appointed by the Governor, who shall
possess no less than five (5) years of experience in low-income
housing tax credit development;
3. One member, to be appointed by the Governor, who shall be a
resident of public housing at the time of his or her appointment to
the Board;
4. One member, to be appointed by the President Pro Tempore of
the Senate; and
5. One member, to be appointed by the Speaker of the House of
Representatives.
The Board shall consist of no more than two members from the
same municipality.
B. The members of the Board shall elect from among its members
a chair, vice chair, and secretary to serve terms of not more than
two (2) years ending on May 31 of the year designated by the Board.
The chair and vice chair shall preside at all meetings. The chair,
vice chair, and secretary shall perform duties as prescribed by the
Board to effectively carry out the functions of the Board.
C. Each member appointed to the Board shall serve a term of
five (5) years. Members of the Board shall serve at the pleasure of
and may be removed from office by the appointing authority.
Whenever a vacancy on the Board shall occur by death, resignation,
or otherwise, the original appointing officer shall fill the same by
appointment, and the appointee shall hold office during the
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unexpired term. Each member shall hold office until a successor has
been appointed and qualified.
D. A majority of Board members shall constitute a quorum to
conduct official business, and the vote of the majority of members
present shall be necessary for any action to be taken by the Board.
No vacancy in the membership of the Board shall impair the rights of
a quorum to exercise and perform all the rights and duties of the
Board.
E. The Board shall meet at least quarterly. The Board shall
meet at such times as the Board deems necessary for effectively
performing its duties and responsibilities. Special meetings may be
called by the chair or by a majority of members of the Board.
SECTION 2. This act shall become effective November 1, 2026.
60-2-3104 BRC 1/13/2026 11:56:50 AM