Oklahoma § 74-2903.3 - Oklahoma Increased Housing Program
Full text of Oklahoma Oklahoma Statutes § 74-2903.3 — Oklahoma Increased Housing Program, with citation guidance and answers to common questions.
§ 74-2903.3. Oklahoma Increased Housing Program
The Oklahoma Increased Housing Program shall be administered by
the Oklahoma Housing Finance Agency (OHFA). The goal of the program
is to help create more affordable housing across the State of
Oklahoma. The program shall help both developers and homebuyers.
Developers may apply for gap financing in building both single
family and multi-family homes across the state. Homebuyers may
apply for a grant assisting in making their down payments in
purchasing a home. The program shall fund both urban and rural
housing developments across the state. The program shall give
preference to applicants who are looking to develop or buy housing
in communities that have been under a federally declared disaster
within the last twelve (12) months. Additionally, participants in
the program shall not be eligible for the "Oklahoma Affordable
Housing Tax Credit" as found in Section 2357.403 of Title 68 of the
Oklahoma Statutes. OHFA may promulgate rules to develop the
Oklahoma Increased Housing Program. OHFA shall provide a yearly
report beginning July 1, 2024, to the Governor, the Speaker of the
Oklahoma House of Representatives, the President Pro Tempore of the
Oklahoma State Senate, the House Appropriations and Budget Chair,
and the Senate Appropriations Chair detailing how many awards have
been made to both developers and to homebuyers, how many additional
housing units have been built, along with other program information
deemed relevant by OHFA.
Added by Laws 2023, 1st Ex. Sess., c. 22, § 4, eff. July 1, 2023.
Frequently Asked Questions About Oklahoma § 74-2903.3
What does Oklahoma Statutes § 74-2903.3 cover?
Section 74-2903.3 ("Oklahoma Increased Housing Program") is part of the Oklahoma Statutes, the codified statutory law of Oklahoma. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Oklahoma § 74-2903.3?
A common citation format is "Oklahoma Statutes § 74-2903.3" (Oklahoma). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Oklahoma law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Oklahoma official source linked on this page or consult a licensed Oklahoma attorney.
How does Oklahoma § 74-2903.3 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Oklahoma can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Oklahoma.