HB 3042 Oklahoma House · 2026 Regular Session

Veterans; Oklahoma Department of Veterans Affairs Supplemental Revolving Funds; purpose; source of funds; effective date; emergency.

HB 3042 creates a permanent revolving fund called the "Oklahoma Department of Veterans Affairs Supplemental Revolving Fund" within the State Treasury. The fund will be financed exclusively by donations and eligible federal funds received by the Oklahoma Department of Veterans Affairs (ODVA), not by state appropriations. ODVA may use these funds to increase transparency, reduce reliance on annual state budget cycles, and reinvest in veterans' programs. The bill takes effect July 1, 2026, and is declared an emergency to allow immediate implementation. This directly affects ODVA's budgeting flexibility and how it manages non-state revenue sources for veterans' services.

Issues: ✓ Veterans

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2026

Committee Review

Floor Vote

Governor

Introduced Feb 2, 2026 Last action Feb 3, 2026

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What changed between versions

Introduced → Proposed Committee Substitute (sub committee) 1 · 4 edits

MODERATE

The bill was amended in committee to rename the fund from 'Supplemental Revolving Fund' to 'Veterans Assistance Fund' and changed the fund's expiration date from indefinite to July 1, 2031. The amendment also updated the requirement for quarterly reporting to include the Governor, Senate President Pro Tempore, and House Speaker, while maintaining existing audit requirements.

Scope change

The bill's scope was modified to include a specific expiration date for the fund and expanded reporting requirements to additional state officials.

FISCAL

Fund name changed from 'Oklahoma Department of Veterans Affairs Supplemental Revolving Fund' to 'Oklahoma Veterans Assistance Fund'

TIMELINE

Added a specific expiration date of July 1, 2031 for the agency special account

REQUIREMENT

Expanded quarterly reporting requirements to include the Governor, Senate President Pro Tempore, and House Speaker in addition to existing recipients

TECHNICAL

Updated page numbers and requirement numbers from 14576 to 16183 to reflect committee amendment tracking

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 3, 2026

Committee

Referred to Appropriations and Budget General Government Subcommittee

lower

Feb 2, 2026

Introduced

First Reading

lower

2 primary · 0 co-sponsors