SB 983 Summary

• Amends Oklahoma turnpike authority law to update statutory references from "Sections 1701 through 1734" to "Sections 1701 through 1736" throughout the statute.

• Requires the Oklahoma Turnpike Authority to submit all feasibility studies, schedules, and documentation to the State Auditor and Inspector for review on accuracy, reliability, and reasonableness before issuing revenue bonds.

• Mandates the State Auditor and Inspector evaluate toll increases during capital programs to confirm compliance with Section 1711 of Title 69 and applicable bond trust agreement covenants, with any compliance issues resolved by the Attorney General, Authority, and State Auditor and Inspector.

• Requires financial plans for turnpike capital programs exceeding three years to include estimated debt service schedules, debt coverage schedules, and projected toll increases with specific dates and rates until final bond maturity.

• Takes effect July 1, 2025, with an emergency clause allowing immediate implementation upon passage and approval.