Oklahoma State Treasurer Todd Russ
OKLAHOMA CITY (May 6, 2025) – Oklahoma State Treasurer Todd Russ today commended the Legislature for the successful passage of House Bills 1541 and 1549, marking significant strides in strengthening Oklahoma’s agricultural lending tools and modernizing how the state manages private activity bonds.
HB 1541: Strengthening Agricultural Financial Support
House Bill 1541 focuses on refining the Agriculture Linked Deposit Program, to better serve farmers and ranchers by expanding access to low-interest capital. The bill increases the amount of funds available through the program, removes unnecessary red tape, and puts loan decision-making authority back where it belongs — in the hands of local banks that know their communities best. It empowers Oklahoma’s local lenders to support the agricultural economy from the ground up, helping producers access better financing, boost rural development, and keep investment dollars working inside the state.
“Our farmers and ranchers are the backbone of Oklahoma’s economy in a time when goods and services are priced at an all-time high, this provides a way for some relief in interest,” said Treasurer Russ. “HB 1541 reinforces our commitment to supporting their financial stability and growth.”
HB 1549: Modernizing Private Activity Bond Allocation
House Bill 1549 streamlines how Oklahoma allocates private activity bonds by updating definitions and setting clear guidelines for bond pools and applications — ensuring that funds are directed toward projects that drive economic growth. The bill strengthens the state’s ability to match capital with community needs and provides clearer, more attractive access for Oklahoma investors to over $500 million in tax-free bonds. By clarifying how bond capacity is allocated and used, Oklahoma becomes a more attractive place for investment and development, while encouraging tax-exempt investment opportunities to remain in-state.
“Efficient allocation of private activity bonds is crucial for funding infrastructure and community projects,” Treasurer Russ noted. “HB 1549 equips us with the tools to manage these resources more effectively, benefiting communities across Oklahoma. Most recently, we approved three new projects with multi-family housing worth $82.5 million across Oklahoma — expanding affordable living options, supporting working families, and helping meet the growing demand for quality housing in our communities.”
Looking Ahead
With the enactment of HB 1541 and HB 1549, the State Treasurer’s Office is poised to implement these changes, working closely with stakeholders to ensure smooth transitions and maximize the benefits of the new provisions.
“These programs use zero public dollars and carry zero risk to taxpayers. It’s a smart, practical way to make government work for the people — not the other way around,” said Treasurer Russ.
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