Bill > SB66

This bill creates the Oklahoma Southeastern Regional Airport Improvement Revolving Fund, a new state treasury fund specifically designed to support airport infrastructure improvements in a very specific regional context. The fund will receive an initial appropriation of $10 million and can only be used for repairs, planning, staging, refurbishments, improvements, and construction of an air traffic control tower at a regional airport meeting precise geographical and population criteria: located east of US Highway 69, south of US Highway 70, within an Oklahoma municipality with a population between 10,000 and 20,000 people. Critically, no funds can be expended until the State Treasurer verifies that matching funds totaling $10 million have been secured from local, county, tribal, federal governments, or through property or monetary donations. If no determination is made by July 1, 2027, any unencumbered funds will be transferred to the state's General Revenue Fund. The bill is set to become effective on July 1, 2025, and includes an emergency clause, which means it can take effect immediately upon passage. By creating this targeted revolving fund, the legislation aims to support infrastructure development in a specific smaller Oklahoma regional airport.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb66&Session=2600