OK SB735

Modifies the apportionment of motor vehicle taxes and fees collected under the Oklahoma Vehicle License and Registration Act by adjusting percentages allocated to the General Revenue Fund based on achieving a $400 million threshold in the Rebuilding Oklahoma Access and Driver Safety Fund.

Reduces General Revenue Fund allocation from 29.84% to 0% over six fiscal years after the $400 million target is met, with intermediate reductions in years 1-5 (24.84%, 19.84%, 14.84%, 9.84%, 4.84% respectively).

Redirects revenues to the County Improvements for Roads and Bridges Fund starting in the first fiscal year after the $400 million threshold is reached, with allocations increasing from 5.6% to 18.1% of motor vehicle taxes and fees over subsequent years.

Creates a tiered schedule for cities and incorporated towns allocating portions to the County Improvements for Roads and Bridges Fund, with percentages ranging from 5.6% to 18.1% depending on which fiscal year after the $400 million threshold is achieved.

Becomes effective July 1, 2011, with an emergency declaration for immediate implementation.