ROA–25 Revolving Fund — ROA–25 Beneficiary Revolving Fund

Official textoscn.netlast amended 2025

# A.

There is hereby created in the State Treasury a revolving fund for the State Treasurer to be designated the "ROA-25 Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies lawfully directed for deposit to the fund. All monies accruing to the credit of said fund are hereby appropriated and upon communication from the Department of Commerce of a satisfactory feasibility study of such project participating in the Reindustrialize Oklahoma Act of 2025, shall be budgeted and expended by the State Treasurer for the purpose of purchasing or acquiring an annuity or materially similar financial instrument which shall provide to the ROA-25 Beneficiary Revolving Fund created by subsection B of this section equal annual distributions of monies over a fifteen-year period. Expenditures, transfers, and distributions from said fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment, or as otherwise required to satisfy the requirements of this section.

# B.

There is hereby created in the State Treasury a beneficiary revolving fund for the Oklahoma Department of Commerce to be designated the "ROA-25 Beneficiary Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all distributions of the financial instrument financed through subsection A of this section. All monies accruing to the credit of said beneficiary revolving fund are hereby appropriated and shall be budgeted, expended, and distributed by the Oklahoma Department of Commerce in accordance with the provisions of the Reindustrialize Oklahoma Act of 2025. Expenditures, transfers, and distributions from said fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment.

# C.

The State Treasurer is authorized to establish a custodial account within the Treasury, and enter a contractual relationship for custodial account services with a private institution as needed, to administer the provisions of this section.

# D.

All unencumbered funds remaining in the Funds created in subsections A and B of this section on or after the expiration of the Reindustrialize Oklahoma Act of 2025 shall be transferred to the State Treasurer for deposit in the General Revenue Fund.

Amendment history

Added by Laws 2025, c. 309, § 5.

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