Bill > HB2758

This bill creates the Preserving and Advancing County Transportation Fund (PACT Fund), a new state treasury fund designed to support county transportation infrastructure. The fund will be primarily financed through a portion of gross production tax revenues from natural gas, with two-thirds of the funds allocated to help counties improve their highway construction and maintenance capabilities. The allocation will first prioritize counties with the lowest per-mile highway funding, aiming to bring each county to a target of $4,000 per county road mile. The remaining two-thirds will be distributed based on each county's total road miles and number of bridges. The remaining one-third of the fund will be dedicated to reconstructing county bridges on major collector routes, with projects evaluated and confirmed by the Department of Transportation based on criteria like structural adequacy, safety, and public necessity. Beginning in July 2025, the bill modifies the gross production tax apportionment for natural gas, reducing the percentage going to the General Revenue Fund and directing up to $75 million annually to the new PACT Fund. This legislation aims to improve county transportation infrastructure by providing a dedicated funding source and a structured approach to distributing resources.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2758&Session=2600