Bill > SB173

This bill modifies the apportionment of vehicle-related fees, taxes, and penalties in Oklahoma by creating a new Municipal Improvements for Roads and Bridges Fund. The bill replaces references to the previous Rebuilding Oklahoma Access and Driver Safety Fund with the new Municipal Improvements for Roads and Bridges Fund. Specifically, the bill establishes that any excess funds from vehicle-related collections beyond the 2015 fiscal year allocation will be credited to this new fund. The new fund will be managed by the Transportation Commission and will distribute funds equally across transportation districts for municipal road and bridge construction or reconstruction projects. Municipalities can accumulate funding for up to five years for specific high-priority infrastructure projects, with the Transportation Commission responsible for developing criteria and prioritization guidelines. The fund will be a continuing, non-fiscal-year-limited fund in the State Treasury, invested according to state investment laws, with any earned interest credited back to the fund. The act is set to become effective on July 1, 2025, with an emergency clause allowing immediate implementation upon passage.

Transportation and Infrastructure

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb173&Session=2600