OK SB976

Increases the maximum annual apportionment to the Rebuilding Oklahoma Access and Driver Safety Fund from $400,000,000 to $435,000,000, effective for the fiscal year beginning July 1, 2012 and thereafter.

Raises the initial mandatory apportionment amount from $35,700,000 to $41,700,000 for fiscal year 2012 and each subsequent fiscal year, while maintaining the requirement that funds first pay debt service obligations authorized under Section 341 of Title 73.

Modifies the fund source for a $101,695,609 transfer from the State Highway Construction and Maintenance Fund (310 Fund) to the State Transportation Fund (290 Fund) as originally authorized by House Bill 2170.

Maintains existing protections including the prohibition on supplanting state transportation funds and the State Board of Equalization's annual review of expenditures to ensure enhancement rather than replacement of existing state funding.

Bill passed the Senate on May 13, 2011 and the House on May 18, 2011.