Oklahoma legislation · 2026 Regular Session
Oklahoma HB3979: Public finance; Oklahoma Economic Development Pooled Finance Act; Infrastructure Pool; Economic Development Pool; caps; effective date; emergency.
Status: Signed into law, May 12, 2026
What the bill says
An Act relating to public finance; amending 62 O.S. 2021, Sections 891.7 and 891.8, which relate to the Oklahoma Economic Development Pooled Finance Act; increasing Infrastructure Pool cap amount; increasing Economic Development Pool cap amount; providing an effective date; and declaring an emergency. SUBJECT: Public finance.
From the enrolled text, May 6, 2026:
An Act relating to public finance; amending 62 O.S. 2021, Sections 891.7 and 891.8, which relate to the Oklahoma Economic Development Pooled Finance Act; increasing Infrastructure Pool cap amount; increasing Economic Development Pool cap amount; providing an effective date; and declaring an emergency. SUBJECT: Public finance SECTION 1. AMENDATORY 62 O.S. 2021, Section 891.7, is amended to read as follows: Section 891.7. A. The Authority shall be authorized to act as a conduit issuer for the benefit of two or more eligible local government entities for an authorized infrastructure project using the Infrastructure Pool. B. The Authority shall be authorized to issue its obligations in order to provide net proceeds on a pooled basis not to exceed One Hundred Million Dollars ($100,000,000.00) One Hundred Twenty-five Million Dollars ($125,000,000.00) for the Infrastructure Pool. The Authority shall be authorized to issue obligations within the limit prescribed by this subsection based upon the defeasance of previously issued obligations. C. Except as otherwise provided by subsection F of this section, proceeds from the Infrastructure Pool shall be for the purpose of providing financing for two or more eligible local government entities for an authorized infrastructure project located in this state involving a pooled financing. D. Sixty-five percent (65%) of the net proceeds from the Infrastructure Pool shall be used by the Authority for the …
Sponsors
- Brian Hill (R, HD-047)
- Clay Staires (R, HD-066)
- Ryan Eaves (R, HD-022)
- Caldwell (R) · primary sponsor
Latest actions
- : Approved by Governor 05/12/2026
- : Sent to Governor
- : Enrolled measure signed, returned to House
- : Enrolled, signed, to Senate
- : Referred for enrollment
- : Fourth Reading, Measure and Emergency Passed: Ayes: 83 Nays: 6
- : Coauthored by Representative(s) Eaves
- : SA's read, adopted
- : SA's received
- : Engrossed to House
Votes
- Fourth Reading (May 6, 2026): 83 yea, 6 nay, passed
- Third Reading (April 29, 2026): 32 yea, 12 nay, passed
- Senate Appropriations Committee (April 22, 2026): 21 yea, 0 nay, passed
- Third Reading (March 24, 2026): 73 yea, 13 nay, passed
- Floor Vote (February 17, 2026): 30 yea, 0 nay, passed
Subjects: Economic Development
Common questions
- What is HB3979?
- HB3979 is a bill in the Oklahoma Legislature (2026 Regular Session): Public finance; Oklahoma Economic Development Pooled Finance Act; Infrastructure Pool; Economic Development Pool; caps; effective date; emergency.
- What does HB3979 do?
- In its own words: An Act relating to public finance; amending 62 O.S. 2021, Sections 891.7 and 891.8, which relate to the Oklahoma Economic Development Pooled Finance Act; increasing Infrastructure Pool cap amount; increasing Economic Development Pool cap amount; providing an effective date; and declaring an emergency. SUBJECT: Public finance.
- What is the status of HB3979?
- Signed into law as of May 12, 2026. Latest action: Approved by Governor 05/12/2026 (May 12, 2026).
- Who sponsored HB3979?
- Caldwell (R), with 3 co-sponsors.
- Where is the official record for HB3979?
- On the Oklahoma Legislature website: https://www.oklegislature.gov/BillInfo.aspx?Bill=HB3979&Session=2600
Source: official Oklahoma record. Tracked by Delilah, AI for legislation across all 50 states and Congress.