{"data":{"id":"us-ok/okla.-stat.-tit.-82-82-1085.93","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 82, § 82-1085.93","heading":"Hazard Mitigation Financial Assistance Fund","body":"A. There is hereby created in the State Treasury a revolving\n\nfund for the Oklahoma Water Resources Board to be designated the\n\n\"Hazard Mitigation Financial Assistance Fund\". The fund shall be a\n\ncontinuing fund, not subject to fiscal year limitations, and shall\n\nconsist of all monies received by the Oklahoma Water Resources Board\n\nfrom appropriations, dedicated revenues, fees or other sources as\n\nprovided by law. All monies accruing to the credit of said fund are\n\nhereby appropriated and may be budgeted and expended by the Oklahoma\n\nWater Resources Board for the purpose of providing loans and grants\n\nfor hazard mitigation. Expenditures from said fund shall be made\n\nupon warrants issued by the State Treasurer against claims filed as\n\nprescribed by law with the Director of the Office of Management and\n\nEnterprise Services for approval and payment.\n\nB. In addition to other lawful purposes, monies placed in the\n\nFund, exclusive of such amounts of interest derived from investment\n\ndeposits necessary to maintain the grant account, may be used by the\n\nBoard to implement hazard mitigation planning and projects,\n\nincluding but not limited to, providing grants or loans to eligible\n\nentities to:\n\n1. Develop a federal/state approved local/regional hazard\n\nmitigation planning document;\n\n2. Acquire land or a conservation easement from a willing\n\nseller or grantor in order to mitigate hazards; or\n\n3. Implement voluntary, incentive-based hazard mitigation\n\nmeasures in order to facilitate compliance with state or national\n\nregulations.\n\nC. Monies in, or investment income derived from, the Hazard\n\nMitigation Financial Assistance Fund which is used to match any\n\ngrant funds provided by the Federal Emergency Management Agency or\n\nany other federal agencies shall be restricted and used consistent\n\nwith federal agencies procedures or guidance or regulations\n\npromulgated thereunder for hazard mitigation projects.\n\nD. Monies in the Hazard Mitigation Financial Assistance Fund,\n\nor investment income derived therefrom, shall be used by the\n\nOklahoma Water Resources Board and the Oklahoma Department of\n\nEmergency Management and Homeland Security in carrying out their\n\nresponsibilities as provided in a written annual joint operating\n\nagreement which shall include, among other matters, a budget for\n\nadministering the Oklahoma Hazard Mitigation Program.\n\nE. The monies placed in the Hazard Mitigation Financial\n\nAssistance Fund may be invested by the State Treasurer in an\n\nadequately collateralized manner and as prescribed by Section 89.2\n\nof Title 62 of the Oklahoma Statutes or pursuant to investment\n\ncontracts or agreements with entities maintaining a rating in the\n\ntop two categories by a nationally recognized municipal bond rating\n\nagency, all in a manner consistent with promulgated regulations.\n\nThe Board may transfer to the Hazard Mitigation Financial Assistance\n\nFund income derived from investment of the fund. Monies invested by\n\nthe State Treasurer shall be available to implement hazard\n\nmitigation projects.\n\nF. The Board shall cause to be completed an annual audit of any\n\nexpenditures from the Hazard Mitigation Financial Assistance Fund,\n\nand such audit cost shall be included in the budget for\n\nadministering the Oklahoma Hazard Mitigation Program.","path":["OK Code","Title 82"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os82.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"9674c42d82dc07bc3255a5f1c873118740a32269486d104097e760602f6de8e4","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-82-82-1085.92","next":"us-ok/okla.-stat.-tit.-82-82-1085.94"},"notice":"GroundRules: Original legal text. Not legal advice."}