A. There is hereby established a fund within the State Treasury to be known as the Oklahoma Disaster Mitigation and Recovery Matching Fund, to be administered by the Oklahoma Department of Commerce. The fund shall be a continuing fund not subject to fiscal year limitations. Within the Oklahoma Disaster Mitigation and Recovery Matching Fund there shall be established separate accounts as prescribed by Section 2022 of this title into which shall be deposited such funds as may be provided by law. B. One of nine accounts shall be available to each entity described in subsection A of Section 2022 of this title. C. One account shall be divided equally into two subaccounts. One of the two subaccounts shall be available to each of the entities described by subsection B of Section 2022 of this title for distribution to any city or town within the respective jurisdiction of the entity or for the benefit of an unincorporated area. D. The Oklahoma Department of Commerce may deposit funds in any account or subaccount as needed, in any amount, up to and including the full amount of the available funds in order to pay for eligible activities at any time. The Oklahoma Department of Commerce may exercise discretion to determine the appropriate amount of funds needed to support eligible activities. No entity may access any more than one account per fiscal year and the total expenditure from any one account for each fiscal year may not exceed the amount of funds available to each account as may be provided by law. E. No monies in the Oklahoma Disaster Mitigation and Recovery Matching Fund shall be used for the payment of administrative expenses, salaries, or any other continuing obligation of the Oklahoma Department of Commerce.
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