HB 1495 Summary

• Amends Section 1521 of Title 69, O.S. to increase the annual apportionment to the Rebuilding Oklahoma Access and Driver Safety (ROADS) Fund from $35.7 million to $43 million starting fiscal year 2012 and thereafter.

• Fund monies are allocated first for debt service payments on bonds issued under Section 341 of Title 73, then for construction, maintenance, and operation of state roads, bridges, highways, and matching federal funds.

• Annual apportionments increase incrementally until reaching $400 million total, after which the apportionment level remains fixed at that amount each year.

• Requires the State Board of Equalization to annually examine expenditures and report whether ROADS Fund monies enhanced or supplanted state transportation funding, with legislative action required if supplantation is found.

• Effective July 1, 2012.