HB 1422: Grand River Dam Authority; authorization of bonds; increasing maximum bond capacity; emergency. - Oklahoma

Floor (House) → Floor (Senate) · 4 edits

MODERATE

This bill was amended between the House and Senate versions to increase the Grand River Dam Authority's bond issuance capacity from $1.41 billion to $3.6 billion, with an additional $2 billion available if approved under the Large-scale Economic Activity and Development Act. The Senate version also expanded the Authority's powers to include financing and utilizing electrical energy and water resources in cooperation with public agencies, rural electric cooperatives, and private or public corporations.

Scope change

The bill's scope was expanded to allow the Grand River Dam Authority to collaborate with a broader range of entities (public agencies, rural electric co-ops, and private/public corporations) for developing and utilizing electrical energy and water resources, in addition to increasing the maximum bond capacity.

FISCAL

Increased maximum bond capacity from $1,410,000,000 to $3,600,000,000, with an additional $2,000,000,000 available under specific conditions

SCOPE

Added authority to finance and utilize electrical energy and water resources in cooperation with public agencies, rural electric cooperatives, and private or public corporations

ELIGIBILITY

Expanded eligibility for collaboration to include a broader range of public and private entities beyond just public agencies

TECHNICAL

Updated statutory references and formatting to reflect Senate floor amendments

HB1422 (4-30-25) (PAXTON) FA1.PDF → Floor (House) · 3 edits

MINOR

The bill was converted from a Senate floor amendment to a House floor version, removing the Senate-specific amendment language and adding a complete committee substitute text. The substantive policy content remains focused on authorizing the Grand River Dam Authority to issue bonds up to $3.6 billion for power generation and related facilities, with no changes to the core funding or operational provisions.

Scope change

The document format changed from a Senate amendment to a House floor version, but the substantive scope of the bill (bond authorization for the Grand River Dam Authority) remains unchanged.

TECHNICAL

Removed Senate-specific amendment language including the Senate chamber header, committee amendment notation, and a specific amendment proposal to add $25 million annual funding to the General Revenue Fund.

Added House floor version headers, committee substitute designation, and complete statutory text for 82 O.S. 2021 Section 870.

Changed document structure from amendment markup format to full bill text format with page numbers and statutory sections.

House Committee Substitute → HB1422 (4-30-25) (PAXTON) FA1.PDF · 2 edits

MINOR

The document changed from a House Committee Substitute version of HB 1422 to a Senate Floor Amendment version. The substantive legislative text remains the same, but the document now includes a floor amendment proposing to require the Grand River Dam Authority to remit $25 million annually to the General Revenue Fund starting January 1, 2026.

Scope change

The bill's scope regarding bond authorization for the Grand River Dam Authority remains unchanged, but a new funding requirement was added via floor amendment.

FISCAL

A floor amendment was added requiring the Grand River Dam Authority to remit $25 million annually to the General Revenue Fund of the State Treasury beginning January 1, 2026.

TECHNICAL

The document header changed from 'House Committee Substitute' to 'Senate Chamber' with floor amendment markings, indicating the bill moved from the House to the Senate and is now being amended on the Senate floor.

Proposed Policy Committee Substitute 1 → House Committee Substitute · 4 edits

MODERATE

The bill was amended from a proposed policy committee substitute to a house committee substitute, primarily updating the formatting and official document structure while maintaining the same substantive policy content regarding bond authorization for the Grand River Dam Authority.

Scope change

No substantive change to the bill's scope or applicability; the amendment is primarily procedural and formatting-related.

TECHNICAL

Document formatting and header information were updated to reflect the house committee substitute version with proper page numbering and session information.

The committee amendment language was replaced with the standard committee substitute format used for legislative bills.

FISCAL

The bond authorization amount of $1,410,000,000.00 and the $3,600,000,000.00 limit from the Large-scale Economic Activity and Development Act remain the same.

SCOPE

The authority to issue revenue bonds for corporate purposes, including power generation and infrastructure projects, remains unchanged.

Enrolled (final version) → Proposed Policy Committee Substitute 1 · 4 edits

MODERATE

The bill was completely rewritten from its original enrolled version to a proposed policy committee substitute version, with the substantive legislative text remaining largely unchanged. The primary differences are formatting and metadata updates including committee amendment markings, page numbering, and header information rather than substantive policy changes.

Scope change

No substantive change to the bill's scope or applicability; the core provisions regarding the Grand River Dam Authority's bond authorization remain the same

TECHNICAL

Header and metadata formatting changed from enrolled bill format to proposed policy committee substitute format with committee amendment markings

Page numbering and line references reorganized to reflect committee substitute document structure

Committee amendment signature lines and reading clerk information added

Original enrolled bill header information and page numbering format removed

Engrossed → Enrolled (final version) · 4 edits · May 28, 2025

MODERATE

This bill was finalized as an enrolled version with minor formatting and authorship updates. The substantive policy content regarding bond authorization amounts and district powers remained unchanged from the engrossed version. The main differences are cosmetic: author names were updated to include Ford and Bergstrom, the header changed from 'ENGROSSED' to 'ENROLLED', and some page numbering/formatting was adjusted for the final version.

TECHNICAL

Author names updated to include Ford and Bergstrom in addition to West and Woods

Header changed from 'ENGROSSED HOUSE' to 'ENROLLED HOUSE' indicating final version

Page numbering and formatting adjusted for final enrolled version

FISCAL

Bond authorization amounts remained the same ($1.41 billion base, up to $3.6 billion with Commerce approval)

Amended And Engrossed → Engrossed · 4 edits · May 22, 2025

MODERATE

This amendment updates HB 1422 to clarify how the Grand River Dam Authority can issue bonds for funding projects. The changes add detailed provisions about bond redemption options, sinking fund management, and revenue sources that can be used to pay bond obligations. These updates make the statutory language more precise and gender-neutral while maintaining the core authorization for bond issuance.

Scope change

The bill's scope remains focused on the Grand River Dam Authority's bond authorization, but the amendment adds specific operational details about how bond payments and funds will be managed.

REQUIREMENT

Added provisions allowing bondholders to redeem bonds at specified times and prices as determined by the Authority

Added requirements for establishing and managing sinking funds or reserve funds to ensure bond payments are covered

FISCAL

Expanded the list of revenue sources that can be pledged to secure bond payments, including revenues from acquired or constructed properties and monies held under resolutions or contracts

TECHNICAL

Updated statutory language to make it gender-neutral and corrected references to align with current legal citations

Introduced → Amended And Engrossed · 4 edits · May 22, 2025

MODERATE

The bill was amended to change its title from 'Waters and Water Rights Modernization Act of 2025' to focus on the Grand River Dam Authority, and significantly increased the maximum bond authorization from $1.41 billion to $3.6 billion under certain conditions. This expansion allows the authority to finance larger infrastructure projects including power plants, dams, and transmission facilities.

Scope change

The bill's scope shifted from general water rights modernization to specifically authorizing the Grand River Dam Authority to issue bonds for power generation and water resource development projects.

SCOPE

Changed the bill title and subject matter from water rights modernization to Grand River Dam Authority bond authorization

FISCAL

Increased maximum bond capacity from $1.41 billion to $3.6 billion when Oklahoma Department of Commerce approves large-scale economic development applications

TECHNICAL

Updated statutory references and made language gender-neutral

REQUIREMENT

Added provisions for financing cooperation with public agencies, rural electric cooperatives, and private corporations for electrical energy development

Grand River Dam Authority; authorization of bonds; increasing maximum bond capacity; emergency.

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