OK HB2846

Amends Oklahoma law governing regional transportation and economic development authorities by expanding eligibility to include certain agencies in addition to cities, towns, and counties.

Establishes authority for these entities to levy a sales tax of up to 2% on gross proceeds of sales and services, subject to voter approval by majority vote in each jurisdiction comprising the authority.

Permits use of tax revenues for planning, financing, construction, maintenance, and operation of transportation or regional economic development projects, with maximum tax duration of 30 years for debt repayment or 20 years for other expenditures.

Removes toll bridge financing provisions and eliminates requirement to describe funding sources in detail; clarifies that authorities exist during operation and no longer than one year after cessation.

Effective date: November 1, 2010.