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53	53	STATE OF OKLAHOMA
54	54
55	55	1st Session of the 58th Legislature (2021)
56	56
57	57	SENATE BILL 997 By: Montgomery
58	58
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63	63	AS INTRODUCED
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65	65	An Act relating to roads, bridges and ferries;
66	66	amending 69 O.S. 2011, Section 507, as amended by
67	67	Section 575, Chapter 304, O.S.L. 201 2 (69 O.S. Supp.
68	68	2020, Section 507), which relates to County
69	69	Improvements for Roads and Bridges Rev olving Fund;
70	70	modifying roads eligible for funds; and providing an
71	71	effective date.
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77	77	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
78	78	SECTION 1. AMENDATORY 69 O.S. 2011, Section 507, as
79	79	amended by Section 575, Chapter 304, O.S.L. 2012 (69 O.S. Supp.
80	80	2020, Section 507), is amended to re ad as follows:
81	81	Section 507. A. There is hereby created in the State Treasury
82	82	a revolving fund to be known as the “County Improvements for Roads
83	83	and Bridges Fund”. The fund shall be a continuing fund, not subject
84	84	to fiscal year limitations, and shall con sist of all appropriations
85	85	and transfers made by the Legislature and the apportionment s made
86	86	pursuant to subsection L of Section 1104 of Title 47 of the Oklahoma
87	87	Statutes. All monies accruing to the credit of said fund are he reby
88	88	appropriated and may be b udgeted and expended beginning with the
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140	140	fiscal year ending June 30, 2008, and each fis cal year thereafter
141	141	pursuant to subsection B of this section. Expenditures from said
142	142	fund shall be made upon warrants issued by the State T reasurer
143	143	against claims filed as prescribed by law with the Direc tor of the
144	144	Office of Management and Enterprise Serv ices for approval and
145	145	payment.
146	146	B. The funds apportioned pursuant to subsection L of Section
147	147	1104 of Title 47 of the Oklahoma Statutes shall be in equal amounts
148	148	to the various Transportation Commission dis tricts. The funds shall
149	149	be used for the sole purpo se of construction or reconstruction of
150	150	any county roads or bridges on the county highway system that are of
151	151	the highest priority as defined by the Transportation Commiss ion.
152	152	Counties may accumulate annua l funding for a period of up to five
153	153	(5) years for a specific project, with such funding to be held by
154	154	the Transportation Commission to the credit of the county project.
155	155	The Transportation Commi ssion shall promulgate rul es for the
156	156	administration of the pr ocess and the development of criteria for
157	157	determining the level of priority for projects and include such
158	158	projects in a five-year construction plan that will be updated
159	159	annually. Projects in the five-year construction pl an shall be
160	160	contracted as provided by law and awarded by the Transportation
161	161	Commission.
162	162	C. The fund shall be invested in whatever instruments are
163	163	authorized by law for investments by the State Treasurer and the
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215	215	interest earned by any investment of monies from the fund shall be
216	216	credited to the fund which shall earn the same, if there is any
217	217	unexpended balance of such fund to which to credit the interest.
218	218	The interest credited herein shall be expended pursuant to this
219	219	section.
220	220	SECTION 2. This act shall become effective Novem ber 1, 2021.
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222	222	58-1-1289 APW 1/21/2021 8:39:35 PM

Oklahoma 2022 Regular Session

Oklahoma Senate Bill SB997 Compare Versions