This bill amends Section 1353 of the Oklahoma Sales Tax Code to modify the apportionment of sales tax revenues for certain fiscal years and establishes the Preserving and Advancing City and Town Transportation Fund. The bill specifies that for fiscal year 2028 and subsequent years, 0.50% of sales tax revenues will be allocated to this new fund, which is intended to support the construction, reconstruction, and maintenance of municipal roads and bridges. Additionally, it requires municipalities to submit proposed projects to the Department of Transportation for evaluation and confirmation before funds can be allocated.

The bill also updates various statutory references and includes provisions for the fund to be a continuing fund, not subject to fiscal year limitations, with expenditures beginning in the fiscal year ending June 30, 2027. The Department of Transportation will assess proposed projects based on criteria such as structural adequacy and public necessity before confirming the allocation of funds. The act is set to take effect on July 1, 2026, and includes an emergency clause for immediate implementation upon passage and approval.

Statutes affected:
Introduced: 68-1353