HB3309

Oklahoma Turnpike Authority requires legislative approval to increase toll rates and must adopt certain rules.

Oklahoma HB3309 mandates that the Oklahoma Turnpike Authority must obtain legislative approval before increasing toll rates on any turnpikes in the state. This approval is to be provided by a joint resolution from the Legislature. Additionally, the Authority is required to adopt rules establishing segregated accounting for each turnpike or project, including separate operating funds, reserve, and sinking funds. The bill also specifies that bonds issued after November 1, 2026, must be secured only by the revenues of the specific turnpike or project for which the bonds are issued.