OK SB366

Creates the Oklahoma Veteran Housing Program Act establishing a special housing grant program for disabled veterans, with grants not to exceed $5,000 per veteran.

Establishes the Oklahoma Veteran Housing Program Revolving Fund in the State Treasury to be managed by the Oklahoma Department of Veterans Affairs for disbursing grants to eligible veterans.

Eligible veterans must be approved for the federal Specially Adapted Housing program, have been Oklahoma residents before active service, be physically residing in the state, and formally apply through the Department of Veterans Affairs.

State grants are disbursed through the federal regional office in escrow and can only be paid once per veteran when the federal grant is approved and ready for construction or remodeling of the home.

Becomes effective July 1, 2015, with an emergency clause allowing immediate implementation upon passage and gubernatorial approval.