{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-91.2","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-91.2","heading":"Purpose","body":"A. Oklahoma's rural areas suffer from a lack of interim\n\nfinancing for builder-developers of housing in rural areas,\n\ninadequate profit incentives for builder-developers, economy of\n\nscale problems which work against economics of developing projects\n\nconsistent with local market needs, and lack of available interim\n\nfinancing from local lenders to fund land acquisition, site\n\ndevelopment, or construction of housing in rural areas.\n\nB. It is the purpose of the Oklahoma Rural and Affordable\n\nHousing Linked Deposit Act to provide funding for eligible rural\n\nhousing developers to build affordable housing in rural Oklahoma.\n\nIt is the specific intent of the Legislature that any funding\n\nprovided to eligible rural housing developers for the purpose of\n\nbuilding affordable rural housing shall assist in the development of\n\nOklahoma's rural areas in order to broaden Oklahoma's economic base.\n\nC. The Oklahoma Rural and Affordable Housing Linked Deposit Act\n\nwill meet rural housing needs by creating a revolving capacity of no\n\nmore than Twenty-five Million Dollars ($25,000,000.00) to enable\n\neligible rural housing developers to finance land acquisition, site\n\ndevelopment, rehabilitation, and construction of single-family or\n\nmultifamily housing units in rural areas. For purposes of\n\ndetermining whether this twenty-five-million-dollar maximum is met,\n\nthe State Treasurer shall consider amounts approved for link deposit\n\nparticipation, whether or not a borrower has actually used the\n\nentire amount approved.","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":"1b59232feb0d988d7ca9ae00d17c72610d0409ea3421c21acda44d819f8e16e8","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-91.1","next":"us-ok/okla.-stat.-tit.-62-62-91.3"},"notice":"GroundRules: Original legal text. Not legal advice."}