Senate Bill 66 Summary

• Creates the Oklahoma Southeastern Regional Airport Improvement Revolving Fund within the State Treasury for the Oklahoma Department of Aerospace and Aeronautics as a continuing fund not subject to fiscal year limitations.

• Fund monies shall be used for repairs, planning, staging, refurbishments, improvements, and air traffic control towers at regional airports located east of U.S. Highway 69, south of U.S. Highway 70, and within Oklahoma municipalities with populations between 10,000 and 20,000 persons.

• No expenditures are permitted until the State Treasurer determines that $10,000,000 in matching funds have been provided by local, county, tribal, or federal governments, or through property and monetary donations.

• Appropriates $10,000,000 from the General Revenue Fund to the revolving fund for fiscal year ending June 30, 2023.

• If no expenditure authorization is made by July 1, 2027, all remaining unencumbered funds revert to the General Revenue Fund; act becomes effective July 1, 2025 with an emergency declaration.