A.
- 1. The Oklahoma Water Resources Board shall establish and administer a Water and Wastewater Infrastructure Investment Program. The program shall include development of competitive loans for eligible entities seeking to develop and implement water and wastewater improvement projects, including, but not limited to, incentivizing planning for water and wastewater infrastructure for workforce housing development and commercial site readiness. The Board shall promulgate rules to effectuate the provisions of this act and loan criteria for the program.
- 2. For the purposes of this section, “eligible entity” or “eligible entities” means an eligible entity as defined pursuant to Section 1085.32 of Title 82 of the Oklahoma Statutes. However, the Board may allocate funds to private citizens or entities for environmental compliance and management programs.
- B. All loans authorized pursuant to the provisions of this act shall include a clawback provision in the funding agreement with an eligible entity. For the purposes of this subsection, a “clawback provision” shall mean a condition precedent to participate in the program whereby a loan recipient agrees in writing to reimburse the program all, or any part of, the loan disbursed to the recipient upon the failure of the recipient to fulfill loan contract terms.
Laws 2026, SB 1176, c. 81, § 1, eff. July 1, 2026.