OK HB2796

Amends the Oklahoma Disaster Mitigation and Recovery Matching Fund to allow the Oklahoma Department of Commerce to deposit funds into any account or subaccount as needed, in any amount up to the full available funds, to pay for eligible activities at any time

Removes the previous restriction that prohibited transferring funds between accounts or subaccounts

Grants the Department of Commerce discretion to determine appropriate funding amounts needed to support eligible disaster mitigation activities

Limits each entity to accessing no more than one account per fiscal year, with expenditures capped at the amount provided by law for that account

Declares an emergency, making the act effective immediately upon passage and approval (passed House May 20, 2025; passed Senate May 22, 2025)