1 STATE OF OKLAHOMA
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2 2nd Session of the 59th Legislature (2024)
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3 SENATE BILL 1761 By: Rader
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6 AS INTRODUCED
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7 An Act relating to the Oklahoma Housing Finance
7 Agency; defining terms; authorizing creation of Rent
8 Guarantee Program; stating purpose of program;
8 establishing qualifications for eligibility for
9 program; authorizing submission or request for
9 certain assistance; imposing limitations on certain
10 assistance; specifying information to be included
10 with certain request; requiring certain report;
11 authorizing certain contract for services;
11 establishing requirements for certain providers;
12 construing provisions; authorizing promulgation of
12 rules for certain purposes; creating the Rent
13 Guarantee Program Fund; stating sources for certain
13 fund; directing expenditures from certain fund;
14 authorizing payment of certain administrative costs;
14 providing for codification; and providing an
15 effective date.
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18 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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19 SECTION 1. NEW LAW A new section of law to be codified
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20 in the Oklahoma Statutes as Section 2905.1 of Title 74, unless there
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21 is created a duplication in numbering, reads as follows:
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22 As used in this act:
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23 1. “Landlord” means an owner of a dwelling unit who has entered
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24 into a rental or lease agreement with a tenant;
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 1 2. “Low-income household” means a household of one or more
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2 individuals whose combined incomes are at or below sixty percent
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3 (60%) of the area median income and includes, but is not limited to,
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4 a household of one or more individuals who are homeless or at risk
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5 of becoming homeless; and
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6 3. “Tenant” means an individual or a family who has or will be
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7 entering into a rental or lease agreement with a landlord.
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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 2905.2 of Title 74, unless there
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10 is created a duplication in numbering, reads as follows:
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11 A. The Oklahoma Housing Finance Agency shall develop and
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12 implement a Rent Guarantee Program for the purpose of providing
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13 incentives and financial assistance to landlords who rent or lease
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14 to low-income households by guaranteeing payments to landlords for
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15 unpaid rent and for eviction and property damage costs as described
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16 in this section.
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17 B. A tenant is eligible to participate in the program if the
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18 tenant:
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19 1. Resides in a low-income household; or
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20 2. Experiences barriers to obtaining housing including, but not
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21 limited to:
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22 a. poor credit history or ratings,
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23 b. a history of criminal background, or
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24 c. a history of housing evictions.
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 1 C. A landlord may submit a request for financial assistance to
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2 the Agency in accordance with rules adopted by the Agency.
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3 Financial assistance to landlords under the program shall be limited
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4 to:
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5 1. Unpaid rent and eviction and property damage costs for
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6 rental or lease agreements entered into with eligible tenants;
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7 2. Unpaid rent and eviction and property damage costs incurred
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8 during the first twelve (12) months of any rental or lease
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9 agreement;
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10 3. A maximum of Two Thousand Dollars ($2,000.00) per eligible
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11 tenant; and
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12 4. A maximum of Five Thousand Dollars ($5,000.00) per landlord.
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13 D. 1. Financial assistance shall be contingent on the
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14 landlord’s submission of a complete and accurate reimbursement
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15 request, verification of unpaid rent and eviction or property damage
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16 claims by the Agency or the program provider described in subsection
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17 E of this section, and cooperation with the collection of data to
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18 measure program performance outcomes as described in subsection E of
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19 this section.
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20 2. Before financial assistance is provided to a landlord under
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21 the program, the landlord shall provide to the Agency or the program
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22 provider described in subsection E of this section a report
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23 containing any information required by rules adopted by the Agency.
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24 The report shall include but not be limited to:
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 1 a. information regarding eligible tenants with which the
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2 landlord entered into tenancy agreements including,
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3 but not limited to, the length of tenancy and reason
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4 for termination of tenancy, if applicable, and
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5 b. amounts of unpaid rent and eviction and property
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6 damage costs not reimbursed to the landlord under the
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7 program.
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8 E. 1. The Agency may contract with a public or private
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9 provider to administer the program within an individual county or
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10 region of this state and to distribute financial assistance to
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11 eligible landlords as provided in this section. The Agency shall
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12 establish criteria for proposals, prepare and publish requests for
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13 proposals, receive proposals, and award contracts to eligible
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14 providers. Eligible providers shall:
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15 a. have experience placing persons in low-income
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16 households into permanent housing,
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17 b. have experience working collaboratively with local
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18 landlords and service providers, and
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19 c. demonstrate the organizational capacity to administer
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20 the program including, but not limited to, the ability
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21 to track data and performance measure outcomes and to
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22 timely process requests for and payments of financial
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23 assistance.
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 1 2. Program providers shall, in accordance with rules adopted by
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2 the Agency:
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3 a. provide reports regarding the number of landlords and
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4 tenants participating in the program, demographic
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5 information related to eligible tenants, identified
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6 tenant risk factors, and the number and amount of
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7 requests for financial assistance submitted under the
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8 program,
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9 b. review and verify requests for financial assistance
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10 and make payments in accordance with established
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11 Agency processes for distributing funds, and
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12 c. collect data to measure the following program
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13 performance outcomes:
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14 (1) increased housing stability as measured by the
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15 percentage of total program participants who
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16 reside in and maintain permanent housing for a
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17 minimum of twelve (12) months, and
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18 (2) increased landlord participation as measured by
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19 the percentage increase in the number of
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20 landlords participating in the program.
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21 F. Nothing in this section shall be construed to prohibit a
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22 landlord from participating in the housing choice voucher program
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23 under 42 U.S.C. 1437f(o).
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 1 G. The Oklahoma Housing Finance Agency may promulgate rules
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2 necessary to implement the provisions of this act.
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3 SECTION 3. NEW LAW A new section of law to be codified
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4 in the Oklahoma Statutes as Section 2905.3 of Title 74, unless there
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5 is created a duplication in numbering, reads as follows:
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6 A. There is hereby created in the State Treasury a fund for the
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7 Oklahoma Housing Finance Agency to be designated the “Rent Guarantee
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8 Program Fund”. The fund shall be a continuing fund, not subject to
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9 fiscal year limitations, and shall consist of:
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10 1. Amounts donated to the fund;
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11 2. Amounts appropriated or otherwise transferred to the fund by
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12 the Legislature;
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13 3. Amounts received from state or federal sources;
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14 4. Income and earnings derived from monies in the fund; and
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15 5. Other amounts deposited in the fund from any source to carry
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16 out the provisions of Section 2 of this act.
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17 All monies accruing to the credit of the fund are hereby
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18 appropriated and may be budgeted and expended by the Oklahoma
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19 Housing Finance Authority for the purpose provided for in this
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20 section. Expenditures from the fund shall be made upon warrants
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21 issued by the State Treasurer against claims filed as prescribed by
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22 law with the Director of the Office of Management and Enterprise
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23 Services for approval and payment.
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 1 B. The Agency shall not pay financial assistance under the Rent
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2 Guarantee Program from any source other than available funds in the
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3 Rent Guarantee Program Fund established pursuant to this section.
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4 C. The Agency may use monies in the fund to pay administrative
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5 costs associated with the fund and with the implementation and
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6 maintenance of the Rent Guarantee Program established under Section
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7 2 of this act.
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8 SECTION 4. This act shall become effective November 1, 2024.
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10 59-2-2893 TEK 1/17/2024 11:01:59 AM
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