Oklahoma § 62-2021 - Oklahoma Disaster Mitigation and Recovery Matching Fund

§ 62-2021. Oklahoma Disaster Mitigation and Recovery Matching Fund

A. There is hereby established a fund within the State Treasury

to be known as the Oklahoma Disaster Mitigation and Recovery

Matching Fund, to be administered by the Oklahoma Department of

Commerce. The fund shall be a continuing fund not subject to fiscal

year limitations. Within the Oklahoma Disaster Mitigation and

Recovery Matching Fund there shall be established separate accounts

as prescribed by Section 2022 of this title into which shall be

deposited such funds as may be provided by law.

B. One of nine accounts shall be available to each entity

described in subsection A of Section 2022 of this title.

C. One account shall be divided equally into two subaccounts.

One of the two subaccounts shall be available to each of the

entities described by subsection B of Section 2022 of this title for

distribution to any city or town within the respective jurisdiction

of the entity or for the benefit of an unincorporated area.

D. The Oklahoma Department of Commerce may deposit funds in any

account or subaccount as needed, in any amount, up to and including

the full amount of the available funds in order to pay for eligible

activities at any time. The Oklahoma Department of Commerce may

exercise discretion to determine the appropriate amount of funds

needed to support eligible activities. No entity may access any

more than one account per fiscal year and the total expenditure from

any one account for each fiscal year may not exceed the amount of

funds available to each account as may be provided by law.

E. No monies in the Oklahoma Disaster Mitigation and Recovery

Matching Fund shall be used for the payment of administrative

expenses, salaries, or any other continuing obligation of the

Oklahoma Department of Commerce.

Added by Laws 2022, c. 348, § 3, eff. July 1, 2022. Amended by Laws

2025, c. 478, § 1, emerg. eff. May 29, 2025.