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STATE OF OKLAHOMA
1st Session of the 58th Legislature (2021)
SENATE BILL 997 By: Montgomery
AS INTRODUCED
An Act relating to roads, bridges and ferries;
amending 69 O.S. 2011, Section 507, as amended by
Section 575, Chapter 304, O.S.L. 201 2 (69 O.S. Supp.
2020, Section 507), which relates to County
Improvements for Roads and Bridges Rev olving Fund;
modifying roads eligible for funds; and providing an
effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 69 O.S. 2011, Section 507, as
amended by Section 575, Chapter 304, O.S.L. 2012 (69 O.S. Supp.
2020, Section 507), is amended to re ad as follows:
Section 507. A. There is hereby created in the State Treasury
a revolving fund to be known as the “County Improvements for Roads
and Bridges Fund”. The fund shall be a continuing fund, not subject
to fiscal year limitations, and shall con sist of all appropriations
and transfers made by the Legislature and the apportionment s made
pursuant to subsection L of Section 1104 of Title 47 of the Oklahoma
Statutes. All monies accruing to the credit of said fund are he reby
appropriated and may be b udgeted and expended beginning with the
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fiscal year ending June 30, 2008, and each fis cal year thereafter
pursuant to subsection B of this section. Expenditures from said
fund shall be made upon warrants issued by the State T reasurer
against claims filed as prescribed by law with the Direc tor of the
Office of Management and Enterprise Serv ices for approval and
payment.
B. The funds apportioned pursuant to subsection L of Section
1104 of Title 47 of the Oklahoma Statutes shall be in equal amounts
to the various Transportation Commission dis tricts. The funds shall
be used for the sole purpo se of construction or reconstruction of
any county roads or bridges on the county highway system that are of
the highest priority as defined by the Transportation Commiss ion.
Counties may accumulate annua l funding for a period of up to five
(5) years for a specific project, with such funding to be held by
the Transportation Commission to the credit of the county project.
The Transportation Commi ssion shall promulgate rul es for the
administration of the pr ocess and the development of criteria for
determining the level of priority for projects and include such
projects in a five-year construction plan that will be updated
annually. Projects in the five-year construction pl an shall be
contracted as provided by law and awarded by the Transportation
Commission.
C. The fund shall be invested in whatever instruments are
authorized by law for investments by the State Treasurer and the
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interest earned by any investment of monies from the fund shall be
credited to the fund which shall earn the same, if there is any
unexpended balance of such fund to which to credit the interest.
The interest credited herein shall be expended pursuant to this
section.
SECTION 2. This act shall become effective Novem ber 1, 2021.
58-1-1289 APW 1/21/2021 8:39:35 PM