Oklahoma § 68-3647.5 - ROA–25 Revolving Fund — ROA–25 Beneficiary Revolving

§ 68-3647.5. ROA–25 Revolving Fund — ROA–25 Beneficiary Revolving

Fund.

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

Oklahoma Statutes - Title 68. Revenue and Taxation

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.

Added by Laws 2025, c. 309, § 5.