Loading chat...

OK HB2769

Bill

Status

Introduced

2/1/2016

Primary Sponsor

Chuck Strohm

Click for details

Origin

House of Representatives

2016 Regular Session

AI Summary

  • 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

  • Prohibits using tolls from existing turnpike projects to subsidize bonds issued for new projects started after January 1, 2017

  • Restricts refinancing of pre-2017 turnpike projects if the refinancing would extend the bond maturation period beyond the original bonds

  • Amends Oklahoma Turnpike Authority statutes (Sections 1705, 1709, 1717, and 1719) to add exceptions limiting bond issuance authority

  • 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

Committee Referrals

Appropriations and Budget2/2/2016

Full Bill Text

No bill text available