1 STATE OF OKLAHOMA
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2 2nd Session of the 59th Legislature (2024)
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3 SENATE BILL 1338 By: Thompson (Roger)
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5 AS INTRODUCED
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6 An Act relating to the Progressing Rural Economic
6 Prosperity Fund; establishing the Oklahoma Department
7 of Commerce Progressing Rural Economic Prosperity
7 Revolving Fund; stating purpose of fund; establishing
8 source of fund; establishing the Oklahoma Space
8 Industry Development Authority Progressing Rural
9 Economic Prosperity Revolving Fund; stating purpose
9 of fund; establishing source of fund; establishing
10 Oklahoma Department of Aerospace and Aeronautics
10 Progressing Rural Economic Prosperity Revolving Fund;
11 stating purpose of fund; establishing source of fund;
11 providing for codification; providing an effective
12 date; and declaring an emergency.
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14 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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15 SECTION 1. NEW LAW A new section of law to be codified
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16 in the Oklahoma Statutes as Section 256.1 of Title 62, unless there
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17 is created a duplication in numbering, reads as follows:
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18 There is hereby created in the State Treasury a revolving fund
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19 for the Oklahoma Department of Commerce to be designated the
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20 “Oklahoma Department of Commerce Progressing Rural Economic
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21 Prosperity Revolving Fund”. The fund shall be a continuing fund,
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22 not subject to fiscal year limitations, and shall consist of all
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23 monies appropriated to the Department from the Progressing Rural
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24 Economic Prosperity Fund established in Section 256 of Title 62 of
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 1 the Oklahoma Statutes. All monies accruing to the credit of the
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2 fund are hereby appropriated and may be budgeted and expended by the
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3 Department for the purpose provided for in this section.
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4 Expenditures from the fund shall be made upon warrants issued by the
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5 State Treasurer against claims filed as prescribed by law with the
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6 Director of the Office of Management and Enterprise Services for
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7 approval and payment.
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8 SECTION 2. NEW LAW A new section of law to be codified
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9 in the Oklahoma Statutes as Section 256.2 of Title 62, unless there
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10 is created a duplication in numbering, reads as follows:
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11 There is hereby created in the State Treasury a revolving fund
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12 for the Oklahoma Space Industry Development Authority to be
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13 designated the “Oklahoma Space Industry Development Authority
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14 Progressing Rural Economic Prosperity Revolving Fund”. The fund
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15 shall be a continuing fund, not subject to fiscal year limitations,
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16 and shall consist of all monies appropriated to the Authority from
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17 the Progressing Rural Economic Prosperity Fund established in
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18 Section 256 of Title 62 of the Oklahoma Statutes. All monies
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19 accruing to the credit of the fund are hereby appropriated and may
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20 be budgeted and expended by the Authority for the purpose provided
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21 for in this section. Expenditures from the fund shall be made upon
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22 warrants issued by the State Treasurer against claims filed as
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23 prescribed by law with the Director of the Office of Management and
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24 Enterprise Services for approval and payment.
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 1 SECTION 3. NEW LAW A new section of law to be codified
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2 in the Oklahoma Statutes as Section 256.3 of Title 62, unless there
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3 is created a duplication in numbering, reads as follows:
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4 There is hereby created in the State Treasury a revolving fund
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5 for the Oklahoma Department of Aerospace and Aeronautics to be
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6 designated the “Oklahoma Department of Aerospace and Aeronautics
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7 Progressing Rural Economic Prosperity Revolving Fund”. The fund
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8 shall be a continuing fund, not subject to fiscal year limitations,
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9 and shall consist of all monies appropriated to the Department from
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10 the Progressing Rural Economic Prosperity Fund established in
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11 Section 256 of Title 62 of the Oklahoma Statutes. All monies
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12 accruing to the credit of the fund are hereby appropriated and may
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13 be budgeted and expended by the Department for the purpose provided
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14 for in this section. Expenditures from the fund shall be made upon
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15 warrants issued by the State Treasurer against claims filed as
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16 prescribed by law with the Director of the Office of Management and
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17 Enterprise Services for approval and payment.
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18 SECTION 4. This act shall become effective July 1, 2024.
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19 SECTION 5. It being immediately necessary for the preservation
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20 of the public peace, health or safety, an emergency is hereby
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21 declared to exist, by reason whereof this act shall take effect and
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22 be in full force from and after its passage and approval.
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24 59-2-2729 RD 12/14/2023 2:45:06 PM
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