Oklahoma SB1635 mandates the Oklahoma Turnpike Authority to create a dissolution plan by December 31, 2027.
Oklahoma SB1635 requires the Oklahoma Turnpike Authority to develop and submit a comprehensive plan for its dissolution, including asset liquidation and infrastructure transfer to the Department of Transportation. The plan must be submitted by December 31, 2027. If the Authority fails to submit the plan by the deadline, it will be prohibited from issuing new bonds, increasing toll rates, or initiating new construction projects until the plan is submitted or deemed complete by the Legislature. The Authority will also face a daily civil penalty of $1,000 for each day of non-compliance.
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