Counties; modifying certain process for funding county rainy day fund; allowing for certain use of county rainy day fund for general budget. Effective date. Emergency.

SB 449 modifies Oklahoma county rainy day fund rules to allow counties to use portions of these funds for general budget needs under specific conditions. It permits counties to draw up to 25% of their rainy day fund balance to supplement the general budget if it is smaller than the previous year's budget, and up to 12.5% (1/8) to address revenue shortfalls when collections fall below estimates. The bill maintains existing restrictions, requiring budget approval before transfers and limiting emergency use (e.g., natural disasters) to 50% of the fund. It directly affects all Oklahoma counties managing rainy day funds, providing new flexibility for budget adjustments without altering the 50% cap on fund size. The changes take effect July 1, 2025, following an emergency declaration.