Oklahoma Water Resources Board; creating the Arkansas River Levee Improvement Revolving Fund; stating fund purpose; making an appropriation; effective date; emergency.

This bill creates a revolving fund for the Oklahoma Water Resources Board specifically to support levee improvement and matching projects along the Arkansas River. It establishes that money received for these purposes will remain in the fund to be used for future projects, and it includes an initial appropriation of $50 million from unappropriated funds. The legislation also declares an emergency to allow the law to take effect immediately upon approval. However, the bill died in conference after the Senate rejected the committee substitute and a conference committee was formed.