OK HB1631

Establishes the Oklahoma Clean Energy Finance Program to provide financing assistance for residential clean energy improvements through below-market interest rate loans up to $12,500 maximum

Creates a Clean Energy Program Fund with loan buy-down and loan loss reserve accounts to compensate participating lenders for reduced interest payments and uncollectible loans

Classifies borrowers into three income tiers (based on area median income percentages) with first-tier borrowers (under 80% AMI) receiving the lowest interest rates and second-tier borrowers (80-120% AMI) receiving intermediate rates

Requires the Governor's Energy Office to oversee program administration, select a program administrator, establish quality assurance standards, and provide annual reports to legislative committees on program performance

Creates Rural Clean Energy Project Finance Program allowing counties and cities to issue tax-exempt private activity bonds (minimum $1 million) to finance eligible clean energy projects in cooperative electric service areas with repayment terms up to 10 years