Oklahoma § 62-2004 - Deposit of monies in Rural Economic Action Plan Fund

§ 62-2004. Deposit of monies in Rural Economic Action Plan Fund

accounts - Expenditures.

A. The monies appropriated to the Rural Economic Action Plan

Fund shall be subject to all of the requirements of Sections 2006

through 2013 of this title.

B. In a fiscal year for which the amount appropriated to the

Rural Economic Action Plan Fund is less than or equal to the sum of

Fifteen Million Five Hundred Thousand Dollars ($15,500,000.00),

there shall be deposited into each of the accounts provided by

Section 2006 of this title the sum of one-tenth (1/10) of the amount

appropriated to the Rural Economic Action Plan Fund with the

exception of one account which shall be divided equally into two

subaccounts. One of the two subaccounts shall be available to one

and only one of the entities described by subsection B of Section

2007 of this title for distribution to cities or towns within the

respective jurisdiction of the entity if the population of such city

or town does not exceed seven thousand (7,000) persons according to

the latest Federal Decennial Census or for the benefit of an

unincorporated area. Funds may also be expended for any city or

town with a population below seven thousand (7,000) persons based

upon the current population estimate according to the U.S. Census

Oklahoma Statutes - Title 62. Public Finance

Bureau. Funds may be expended for such cities and towns until the

next following Federal Decennial Census. Provided, for any fiscal

year following the first fiscal year that the provisions of

subsection D of this section have taken effect, funds appropriated

to the Rural Economic Action Plan Fund shall be deposited as

provided in subsection D of this section and the provisions of this

subsection shall not be in effect.

C. In a fiscal year for which the amount appropriated to the

Rural Economic Action Plan Fund is greater than Fifteen Million Five

Hundred Thousand Dollars ($15,500,000.00), but less than Seventeen

Million Fifty Thousand Dollars ($17,050,000.00), there shall be

deposited into each of nine separate accounts for the entities

described by subsection A of Section 2007 of this title the sum of

One Million Five Hundred Fifty Thousand Dollars ($1,550,000.00).

There shall be divided equally between two additional accounts for

the use and benefit of the entities described by subsection B of

Section 2007 of this title the balance of any such appropriation in

excess of Thirteen Million Nine Hundred Fifty Thousand Dollars

($13,950,000.00), but less than Seventeen Million Fifty Thousand

Dollars ($17,050,000.00).

D. In the first fiscal year for which the amount appropriated

to the Rural Economic Action Plan Fund equals or exceeds the sum of

Seventeen Million Fifty Thousand Dollars ($17,050,000.00), and in

every subsequent fiscal year, there shall be deposited an equal

amount to each of eleven accounts created for the use and benefit of

the entities described by subsections A and B of Section 2007 of

this title.

E. Regardless of the number of accounts created based upon the

appropriation amount to the Rural Economic Action Plan Fund, all

expenditures from all accounts shall be governed by the limitations

imposed pursuant to Sections 2002 through 2013 of this title,

including the limitations applicable to expenditures for the benefit

of cities or towns based upon population limits or expenditures for

the benefit of unincorporated areas.

Added by Laws 1996, c. 193, § 4, eff. July 1, 1996. Amended by Laws

1997, c. 382, § 2, eff. July 1, 1997; Laws 1998, c. 373, § 4, eff.

July 1, 1998; Laws 1999, c. 369, § 2, eff. July 1, 1999; Laws 2002,

c. 219, § 2, eff. July 1, 2002; Laws 2007, c. 194, § 1, eff. July 1,

2007.

NOTE: Laws 2006, c. 317, § 1 amended this section to be effective

contingent upon a sufficient appropriation. The necessary amount

was not appropriated. Laws 2006, c. 317, § 1 repealed by Laws 2009,

c. 2, § 17, emerg. eff. March 12, 2009.