House Bill No. 1541, introduced by Patzkowsky, amends various sections of the Oklahoma Agricultural Linked Deposit Program to enhance its administration and broaden its scope. Key modifications include the definition of "alternative agricultural products," which now explicitly excludes medical marijuana growing operations. The bill also updates the criteria for "eligible agricultural businesses" and increases the maximum linked deposit amounts for certain operations, allowing up to $1 million for alternative agricultural products and at-risk farm or ranch operations, while maintaining a cap of $350,000 for healthy corner stores. Additionally, the State Treasurer is granted the authority to issue guidelines for the program and is required to submit an annual report on its status.

Furthermore, the bill raises the total investment limit for linked deposit programs from $225 million to $500 million, ensuring that the State Treasurer can invest a larger sum in these initiatives. The bill emphasizes the importance of compliance with lending standards and mandates that eligible lending institutions prioritize the economic and health needs of their respective areas when considering loan applications. The act is set to take effect on July 1, 2025, and includes an emergency clause for immediate implementation upon passage and approval.