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OK HB2769
Bill
Status
2/1/2016
Primary Sponsor
Chuck Strohm
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AI Summary
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Turnpike projects initiated on or after January 1, 2017 must be financially self-sustaining, with bonds paid only from tolls collected on that specific project rather than from tolls on other turnpikes
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Prohibits using tolls from existing turnpike projects to subsidize bonds issued for new projects started after January 1, 2017
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Restricts refinancing of pre-2017 turnpike projects if the refinancing would extend the bond maturation period beyond the original bonds
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Amends Oklahoma Turnpike Authority statutes (Sections 1705, 1709, 1717, and 1719) to add exceptions limiting bond issuance authority
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Effective date of November 1, 2016
Legislative Description
Roads and bridges; Oklahoma Turnpike Authority; limiting authority to issue bonds; effective date.
Last Action
Referred to Appropriations and Budget Transportation Subcommittee
2/2/2016