§74-9056. Unregulated Utility Consumer Protection Fund.
218 words·~1 min read·
/ok/title-74-state-government/74-9056·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. There is hereby created in the State Treasury a fund to be designated the "Unregulated Utility Consumer Protection Fund", which shall be utilized by the Oklahoma Development Finance Authority to make loans to unregulated utilities to carry out the purposes of this act. The fund shall consist of proceeds from the issuance of obligations authorized in Section 6 of this act, revenues from the loan program and any other contributions from unregulated utilities permitted by law.
B. To the extent the unregulated utility receives, prior to the issuance of a loan pursuant to this act, insurance proceeds, governmental grants or any other source of funding that compensates it for extreme purchase costs or extraordinary costs, or if actual amounts are determined to be lower than estimated amounts, those amounts shall be used to reduce the qualified costs of the unregulated utility that are recoverable from customers. If the amounts are received after the issuance of a loan, they shall be remitted to the Authority and deposited into the Unregulated Utility Consumer Protection Fund.
Any amounts remitted to the Authority after the issuance of a loan shall be credited against the loan payments of the unregulated utility using a reasonable methodology determined by the Authority. Added by Laws 2021, c. 203, § 7, emerg. eff. April 23, 2021.