§ 63-5020A — Rate Preservation Fund.

A. There is hereby created in the State Treasury a fund for the Oklahoma Health Care Authority to be designated the "Rate Preservation Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of monies designated to the fund by law. All monies accruing to the credit of the fund are hereby appropriated and may be budgeted and expended by the Authority for the purposes described in subsection B of this section. Expenditures from the fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment. The Administrator of the Authority may request the Director of the Office of Management and Enterprise Services to transfer monies between the Rate Preservation Fund and any other fund of the Authority as needed for the expenditure of funds. B. The Oklahoma Health Care Authority is authorized to budget and expend monies from the Rate Preservation Fund as follows: 1. For maintaining reimbursement rates to providers in the event of a decrease in the state's Federal Medical Assistance Percentage rate; and 2. Subject to the approval of the Director of the Office of Management and Enterprise Services, the Oklahoma Health Care Authority may transfer up to one-third (1/3) of the balance of the Rate Preservation Fund in any given state fiscal year to other funds of the Authority to meet cash flow needs of the state's Medicaid program, so long as the monies are transferred back to the Rate Preservation Fund prior to the end of the state fiscal year in which they were originally transferred.

Legislative History

Added by Laws 2019, c. 447, § 1, emerg. eff. May 24, 2019. Amended by Laws 2020, c. 13, § 1; Laws 2025, c. 468, § 1, emerg. eff. May 29, 2025.