OK SB265

Oklahoma Water Resources Board must establish the Oklahoma Water Infrastructure Loan Program to provide low-interest loans and grants to municipalities, rural water districts, and other eligible entities for water infrastructure projects

Eligible projects include construction, repair, and rehabilitation of water treatment plants, pipelines, and storage facilities, as well as water quality and conservation projects

Creates the Oklahoma Water Infrastructure Revolving Fund in the State Treasury as a continuing fund not subject to fiscal year limitations, with at least 10% of annual revenue allocated to rural or underserved communities

Fund revenues include proceeds from sale of surplus state-owned water, fees from leasing state water rights, federal/state/private grants and donations, and investment returns

Board must submit annual reports to legislative leadership and the Governor detailing revenues, expenditures, project status, and funding needs; program subject to annual independent audit