{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-695.24","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-695.24","heading":"Designation of various pools - Amounts reserved and","body":"placed.\n\nA. For the period January 1 through June 30 of each calendar\n\nyear, the state ceiling shall be reserved and placed in pools\n\naccording to the following:\n\n1. Ten percent (10%) of the state ceiling shall be reserved\n\nand placed in a pool designated as the Student Loan Pool.\n\nAllocations from this pool may be made only to qualified student\n\nloan bonds issued by eligible state issuers;\n\n2. Twenty-five percent (25%) of the state ceiling shall be\n\nreserved and placed in a pool designated as the Economic Development\n\nPool. Allocations from this pool may be made only upon the\n\nrecommendation of the Director of the Oklahoma Department of\n\nCommerce and following review and approval by the Council of Bond\n\nOversight. In order to approve the recommendation, the Council of\n\nBond Oversight must find that the project seeking an allocation from\n\nthis pool will result in the creation of manufacturing jobs in this\n\nstate or will in some other way contribute to an economic\n\ndevelopment objective of this state;\n\n3. Forty percent (40%) of the state ceiling shall be reserved\n\nand placed in a pool designated as the Housing Pool. Allocations\n\nfrom this pool may be made only to qualified single-family bonds,\n\nmultifamily bonds, or mortgage credit certificates.\n\na. No single project or issuer shall be eligible to\n\nreceive an allocation or allocations in excess of\n\ntwenty-five percent (25%) of the state ceiling under\n\nthis paragraph.\n\nb. Notwithstanding subparagraph a of this paragraph, an\n\nissuer shall be eligible to receive subsequent\n\nallocations provided that any previous allocations\n\nhave already issued;\n\n4. Twenty-five percent (25%) of the state ceiling shall be\n\nreserved and placed in a pool to be designated the Discretionary\n\nPool. Allocations from this pool may be made to any qualified\n\nprivate activity bond, as provided by Section 141 of the Internal\n\nRevenue Code, that is not subject to paragraph 1, 2, or 3 of this\n\nsubsection.\n\na. Before June 30 of any calendar year, an amount not to\n\nexceed ten percent (10%) of the state ceiling may be\n\nreserved and placed from the Discretionary Pool to any\n\nof the pools defined in paragraph 1, 2, or 3 of this\n\nsubsection.\n\nb. Reservation and placement from the Discretionary Pool\n\nshall be at the discretion of the Deputy Treasurer for\n\nDebt Management and subject to the approval of the\n\nCouncil of Bond Oversight; and\n\n5. Projects subject to one or more pools shall be eligible to\n\nreceive an allocation from the pool designated by the Deputy\n\nTreasurer for Debt Management.\n\na. No pool designation shall be made for the purpose of\n\ndenying or delaying an allocation by intentionally\n\nselecting a pool containing insufficient amounts of\n\navailable state ceiling.\n\nb. Any appeal from such designation shall be made to the\n\nCouncil of Bond Oversight.\n\nB. On July 1 of each calendar year, any unallocated sums\n\nremaining in the pools of subsection A of this section shall be\n\nreserved and placed in the Consolidated Pool.\n\nC. Notwithstanding subsection H of Section 695.25, no later\n\nthan 9:00 a.m. on December 1 of each calendar year, any previous\n\nallocations that fail to issue, or unallocated sums remaining in the\n\nConsolidated Pool, shall be reclaimed or reserved for qualified\n\ncarryforward projects, as said term is used in Section 103(n)(10)\n\nand 146(f) of the Internal Revenue Code.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"070690df123508d0288cc79da436addc10719dd154a33dbf473b25458b442807","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-695.23","next":"us-ok/okla.-stat.-tit.-62-62-695.25"},"notice":"GroundRules: Original legal text. Not legal advice."}