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Panel backs bill letting Grand River Dam Authority retain proceeds from property sales
Summary
Committee approved a measure to let the Grand River Dam Authority (GRDA) retain funds from property sales rather than directing them to the State Buildings Revolving Fund, citing GRDA's rate‑payer funding model and the need to use proceeds for GRDA purposes.
The Oklahoma Senate Committee on Retirement and Government Affairs voted to pass a measure (referenced in the transcript as House Bill 1420) that would allow the Grand River Dam Authority (GRDA) to retain proceeds from sales of property it controls rather than remitting those funds to the State Buildings Revolving Fund.
Senator Bergstrom explained the measure and described GRDA as “a non appropriated agency that provides electricity to 15 communities and 1 industrial park.” He told the committee that GRDA “is completely funded by its rate payers and it's their responsibility to keep rates as low as possible. Therefore, should GRDA need to sell a piece of property for any reason, the funds currently would have to go to the maintenance of State Buildings Revolving Fund. This bill changes it so that GRDA has the same exemption as the others I mentioned so that the funds will be retained for GRDA's needs and its rate payer's needs and not lost to its rate payer's benefit.”
Bergstrom listed other state entities currently exempt from that fund transfer: the Oklahoma Ordnance Works Authority (transcript: “Ordinance/Ordnance Works Authority”), the Commissioners of the Land Office, the Department of Transportation and the Oklahoma Turnpike Authority. The bill would add GRDA to that group.
Senator Boren asked about a comparable Senate bill number; Bergstrom answered that “36” was the related number and that there were no substantive differences between the versions. There was no substantive debate recorded on the floor beyond confirmation and a second; the committee recorded six ayes and two nays and the chair declared the measure passed.
Votes at a glance: House Bill 1420 — Motion: do pass (mover: Senator Bergstrom; second: Senator Stewart). Committee tally: 6 ayes, 2 nays. The official committee roll call should be consulted for the full member‑level vote record and the formal bill number as enrolled.
If enacted, the change would let GRDA retain proceeds from property sales to apply to GRDA operations and to protect rate‑payer interests, rather than transferring those proceeds into the State Buildings Revolving Fund.
