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OK HB3309
Bill
Status
2/2/2026
Primary Sponsor
Jay Steagall
Click for details
AI Summary
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Oklahoma Turnpike Authority must obtain legislative approval by joint resolution before increasing toll rates on any state turnpikes
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Authority must adopt rules by July 1, 2027 establishing segregated accounting for each turnpike project, including separate operating funds, reserve and sinking funds, and annual publication of revenues, expenditures, and debt service by project
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Bonds issued after November 1, 2026 must be secured only by revenues from the specific turnpike or project for which they are issued, prohibiting cross-subsidization between different turnpike projects
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Once a turnpike project is completed and its debt is paid off, tolls on that project can only cover direct costs of operation, maintenance, and long-term preservation
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Existing bond obligations and trust agreements issued before November 1, 2026 are protected and shall not be impaired by these new requirements
Legislative Description
Oklahoma Turnpike Authority; requiring Oklahoma Turnpike Authority obtain legislative approval to increase toll rates; requiring Authority to adopt certain rules; effective date.
Last Action
Second Reading referred to Rules
2/3/2026