Okla. Stat. tit. 74, § 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.