HJR 1018 Summary

• Proposes a constitutional amendment known as the "Toll Free in '23 Act" to add Section 45 to Article X of the Oklahoma Constitution.

• Requires the State Bond Advisor to calculate all outstanding debt of the Oklahoma Turnpike Authority and determine annual debt service amounts needed to fully pay off all obligations by December 31, 2023.

• Directs the State Treasurer to allocate funds from the General Revenue Fund monthly to the Oklahoma Turnpike Authority to cover all debt payments, ensuring obligations are satisfied by the 2023 deadline.

• Prohibits the Oklahoma Turnpike Authority from constructing new toll roads until existing debt is fully repaid and restricts toll revenues to maintenance of existing turnpikes and repayment of debt on previously issued obligations.

• Allows toll revenues from turnpikes constructed after 2023 to be used only for repaying bonds issued for those specific turnpikes, with an exception if voters approve a ballot measure allowing cross-project toll revenue sharing.