The Municipal Parking Benefit District Act allows municipalities in Oklahoma to establish designated parking benefit districts, where the revenue generated from on-street parking facilities is utilized to fund improvements within those districts. The bill outlines the process for creating these districts, which includes public notice and hearings, as well as the formation of advisory committees to provide recommendations on the maintenance of parking meter programs. The advisory committees must consist of local residents or business owners, with a majority being business owners, and they will serve without compensation.

Additionally, the bill provides for the establishment of a special fund to hold all revenue from the parking meter program within the district, which can be used for necessary improvements and maintenance. Municipalities have the authority to modify or terminate these districts as needed, following a similar public notice and hearing process. The act emphasizes that the powers granted do not limit existing municipal authority over parking meter programs and will take effect on November 1, 2025.