OK HB3286

Amends Sections 7 and 8 of Chapter 309, O.S.L. 2009 relating to the Oklahoma Community Economic Development Pooled Finance Act.

Authorizes the Authority to issue obligations up to $100,000,000 for both the Infrastructure Pool and Economic Development Pool, with ability to issue additional obligations based on defeasance of previously issued obligations.

Allocates 65% of net proceeds from each pool for eligible local government entities with populations not exceeding 300,000 persons, and 35% for any eligible local government entities regardless of population.

Permits the Authority to act as a conduit issuer for multiple eligible local government entities for infrastructure projects and for one or more entities in conjunction with for-profit business entities for economic development projects.

Allows obligations to be issued on a tax-exempt basis if federal law permits, otherwise on a taxable basis.