Water and water rights; creating the Oklahoma Water Infrastructure Loan Program and Revolving Fund; stating Program and Fund purposes. Emergency.

SB 265 creates the Oklahoma Water Infrastructure Loan Program and a revolving fund to finance water infrastructure projects. It provides low-interest loans and grants to municipalities, rural water districts, and other eligible entities for projects like water treatment plants, pipelines, and conservation efforts. The fund, financed by state water sales proceeds, fees, donations, and investment returns, must allocate at least 10% of annual revenue to rural or underserved communities. The program requires annual reporting to state leaders and independent audits to track fund use and project status. This bill directly affects local water providers and communities needing infrastructure upgrades.