§ 62-2004 — Deposit of monies in Rural Economic Action Plan Fund

Oklahoma § 62-2004

• Jurisdiction: Oklahoma
• Title 62: Public Finance

Text

accounts - Expenditures. A. The monies appropriated to the Rural Economic Action Plan Fund shall be subject to all of the requirements of Sections 2006 through 2013 of this title. B. In a fiscal year for which the amount appropriated to the Rural Economic Action Plan Fund is less than or equal to the sum of Fifteen Million Five Hundred Thousand Dollars ($15,500,000.00), there shall be deposited into each of the accounts provided by Section 2006 of this title the sum of one-tenth (1/10) of the amount appropriated to the Rural Economic Action Plan Fund with the exception of one account which shall be divided equally into two subaccounts. One of the two subaccounts shall be available to one and only one of the entities described by subsection B of Section 2007 of this title for distribution to cities or towns within the respective jurisdiction of the entity if the population of such city or town does not exceed seven thousand (7,000) persons according to the latest Federal Decennial Census or for the benefit of an unincorporated area. Funds may also be expended for any city or town with a population below seven thousand (7,000) persons based upon the current population estimate according to the U.S. Census Bureau. Funds may be expended for such cities and towns until the next following Federal Decennial Census. Provided, for any fiscal year following the first fiscal year that the provisions of subsection D of this section have taken effect, funds appropriated to the Rural Economic Action Plan Fund shall be deposited as provided in subsection D of this section and the provisions of this subsection shall not be in effect. C. In a fiscal year for which the amount appropriated to the Rural Economic Action Plan Fund is greater than Fifteen Million Five Hundred Thousand Dollars ($15,500,000.00), but less than Seventeen Million Fifty Thousand Dollars ($17,050,000.00), there shall be deposited into each of nine separate accounts for the entities described by subsection A of Section 2007 of this title the sum of One Million Five Hundred Fifty Thousand Dollars ($1,550,000.00). There shall be divided equally between two additional accounts for the use and benefit of the entities described by subsection B of Section 2007 of this title the balance of any such appropriation in excess of Thirteen Million Nine Hundred Fifty Thousand Dollars ($13,950,000.00), but less than Seventeen Million Fifty Thousand Dollars ($17,050,000.00). D. In the first fiscal year for which the amount appropriated to the Rural Economic Action Plan Fund equals or exceeds the sum of Seventeen Million Fifty Thousand Dollars ($17,050,000.00), and in every subsequent fiscal year, there shall be deposited an equal amount to each of eleven accounts created for the use and benefit of the entities described by subsections A and B of Section 2007 of this title. E. Regardless of the number of accounts created based upon the appropriation amount to the Rural Economic Action Plan Fund, all expenditures from all accounts shall be governed by the limitations imposed pursuant to Sections 2002 through 2013 of this title, including the limitations applicable to expenditures for the benefit of cities or towns based upon population limits or expenditures for the benefit of unincorporated areas.

Legislative History

Added by Laws 1996, c. 193, § 4, eff. July 1, 1996. Amended by Laws 1997, c. 382, § 2, eff. July 1, 1997; Laws 1998, c. 373, § 4, eff. July 1, 1998; Laws 1999, c. 369, § 2, eff. July 1, 1999; Laws 2002, c. 219, § 2, eff. July 1, 2002; Laws 2007, c. 194, § 1, eff. July 1, 2007. NOTE: Laws 2006, c. 317, § 1 amended this section to be effective contingent upon a sufficient appropriation. The necessary amount was not appropriated. Laws 2006, c. 317, § 1 repealed by Laws 2009, c. 2, § 17, emerg. eff. March 12, 2009.