Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 2nd Session of the 60th Legislature (2026)
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3 SENATE BILL 1600 By: Kirt
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6 AS INTRODUCED
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7 An Act relating to the Oklahoma Housing Finance
7 Agency; creating the Oklahoma Housing Finance Agency
8 Board; establishing the composition of the Board;
8 establishing certain organizational requirements of
9 the Board; authorizing the Board to elect certain
9 officers; creating certain procedures for filling
10 vacancies; establishing certain meeting requirements
10 of the Board; providing for codification; and
11 providing an effective date.
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14 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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15 SECTION 1. NEW LAW A new section of law to be codified
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16 in the Oklahoma Statutes as Section 2904 of Title 74, unless there
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17 is created a duplication in numbering, reads as follows:
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18 A. The Oklahoma Housing Finance Agency Board is hereby created
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19 and shall consist of five (5) public trustees, as follows:
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20 1. One member, to be appointed by the Governor, who shall
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21 possess no less than five (5) years of experience in mortgage or
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22 lending institutions;
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Req. No. 3104 Page 1
1 2. One member, to be appointed by the Governor, who shall
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2 possess no less than five (5) years of experience in low-income
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3 housing tax credit development;
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4 3. One member, to be appointed by the Governor, who shall be a
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5 resident of public housing at the time of his or her appointment to
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6 the Board;
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7 4. One member, to be appointed by the President Pro Tempore of
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8 the Senate; and
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9 5. One member, to be appointed by the Speaker of the House of
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10 Representatives.
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11 The Board shall consist of no more than two members from the
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12 same municipality.
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13 B. The members of the Board shall elect from among its members
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14 a chair, vice chair, and secretary to serve terms of not more than
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15 two (2) years ending on May 31 of the year designated by the Board.
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16 The chair and vice chair shall preside at all meetings. The chair,
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17 vice chair, and secretary shall perform duties as prescribed by the
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18 Board to effectively carry out the functions of the Board.
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19 C. Each member appointed to the Board shall serve a term of
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20 five (5) years. Members of the Board shall serve at the pleasure of
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21 and may be removed from office by the appointing authority.
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22 Whenever a vacancy on the Board shall occur by death, resignation,
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23 or otherwise, the original appointing officer shall fill the same by
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24 appointment, and the appointee shall hold office during the
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Req. No. 3104 Page 2
1 unexpired term. Each member shall hold office until a successor has
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2 been appointed and qualified.
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3 D. A majority of Board members shall constitute a quorum to
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4 conduct official business, and the vote of the majority of members
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5 present shall be necessary for any action to be taken by the Board.
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6 No vacancy in the membership of the Board shall impair the rights of
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7 a quorum to exercise and perform all the rights and duties of the
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8 Board.
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9 E. The Board shall meet at least quarterly. The Board shall
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10 meet at such times as the Board deems necessary for effectively
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11 performing its duties and responsibilities. Special meetings may be
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12 called by the chair or by a majority of members of the Board.
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13 SECTION 2. This act shall become effective November 1, 2026.
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15 60-2-3104 BRC 1/13/2026 11:56:50 AM
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Req. No. 3104 Page 3Every fact on this page links to its source, starting with the official bill record.