OK HB1221

Creates "State Accounts for Federal Expenditures" (SAFE Accounts) in the State Treasury to hold competitive grant awards, direct federal payments not tied to existing programs, and block grants received by state agencies

Requires agencies applying for competitive grants through Grants.gov beginning November 1, 2025 to notify legislative leadership, the Governor, and Secretary of Finance with details including grant amount, purpose, awarding entity, and funding duration

Prohibits agencies from drawing down competitive grant funds without prior legislative approval via concurrent resolution; if not approved, agencies must withdraw their applications

Exempts Oklahoma Department of Transportation from competitive grant requirements for projects on the 8 Year Construction Work Plan or Federal Railroad Administration grants administered for rail companies

Requires formal legislative hearings and approval before agencies can access federal monetary relief funds directed to states; exempts temporary increases to existing federal programs and unemployment dollars managed by the Oklahoma Employment Security Commission