The Oklahoma Homebuilder Program shall be administered by the Oklahoma Housing Finance Agency (OHFA). The program shall create more affordable single family housing units across the State of Oklahoma. The program shall be a loan program for homebuilders at interest rates as low as zero percent (0%), providing loans to build single family housing units. The program shall fund both urban and rural housing developments across the state. The program shall give preference to applicants seeking to build homes in communities that have been under a federally declared natural disaster within the last twelve (12) months. Additionally, participants in this program shall not be eligible for the Oklahoma Affordable Housing Tax Credit as found in Section 2357.403 of Title 68 of the Oklahoma Statutes. OHFA may promulgate rules to administer the Oklahoma Homebuilder Program. OHFA shall provide a yearly report beginning July 1, 2024, to the Governor, the Speaker of the Oklahoma House of Representatives, the President Pro Tempore of the Oklahoma State Senate, the House Appropriations and Budget Chair, and the Senate Appropriations Chair detailing how many awards have been made and how many single family housing units have been built to date, along with other program information deemed relevant by OHFA.
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