HB1541

Oklahoma HB1541 amends the Agriculture Linked Deposit Program to redefine eligible businesses and adjust investment limits.

Oklahoma HB1541 modifies the Agriculture Linked Deposit Program by updating definitions and investment limits. The bill redefines eligible businesses to include at-risk farms, ranches, and healthy corner stores. It sets a maximum deposit of $350,000 for at-risk farms or ranches and healthy corner stores, and $250,000 for alternative agricultural products. The State Treasurer must review quarterly investments to ensure compliance with the new limits, which are set at $225 million or 15% of available funds, whichever is lower.