turnpikes - Limitations.
(a)Until all bonds of the Authority and the interest thereon are paid in full, the Oklahoma Tax Commission shall each month determine an amount equal to the motor fuel excise taxes computed on ninety-seven and one-half percent (97 1/2%) of the total gallonage of all fuels consumed, during the calendar month in which the tax being apportioned accrued, on all Oklahoma turnpike projects and apportion a sum equal to such amount from all gasoline tax collections as follows: Ninety-seven percent (97%) of such amount to the Authority and three percent (3%) to the General Revenue Fund of the State Treasury, after which apportionment all other apportionments of motor fuel excise taxes shall be made as provided for by law. Such apportionments shall be deducted exclusively f
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turnpikes - Limitations. (a) Until all bonds of the Authority and the interest thereon are paid in full, the Oklahoma Tax Commission shall each month determine an amount equal to the motor fuel excise taxes computed on ninety-seven and one-half percent (97 1/2%) of the total gallonage of all fuels consumed, during the calendar month in which the tax being apportioned accrued, on all Oklahoma turnpike projects and apportion a sum equal to such amount from all gasoline tax collections as follows: Ninety-seven percent (97%) of such amount to the Authority and three percent (3%) to the General Revenue Fund of the State Treasury, after which apportionment all other apportionments of motor fuel excise taxes shall be made as provided for by law. Such apportionments shall be deducted exclusively from those funds which would otherwise be apportioned to the Department or Commission for expenditure on state highways, without affecting the amounts presently apportioned to the various municipalities, counties, or for county roads. (b) If at the time of any monthly apportionment required herein: (1) there shall be a balance in the trust fund created by Section 1730 of this Code, equal to one and one-half (1 1/2) times the maximum amount of principal, including any sinking fund or amortization requirements, and interest payable in any fiscal year, beginning July 1, and ending on June 30, thereafter, on account of all turnpike revenue and turnpike revenue refunding bonds of the Authority issued pursuant to the provisions of this article prior to May 1, 1992, and then outstanding, or (2) if no such bonds are outstanding, the Oklahoma Tax Commission shall apportion to the trust fund the amount referred to in subsection (a) of this section so long as any turnpike revenue and turnpike revenue refunding bonds issued after May 1, 1992, continue to be outstanding. Thereafter, the Oklahoma Tax Commission shall apportion the amount referred to in subsection (a) of this section as provided for by law. (c) In addition to those sums collected and disbursed in subsections (a) and (b) of this section, the Oklahoma Tax Commission shall in each fiscal year determine an amount equal to the motor fuel excise taxes computed on ninety-seven and one-half percent (97 1/2%) of the total gallonage of all fuels consumed, during the fiscal year in which the tax being apportioned accrued on the Industrial Parkway, and, after making the apportionments set out in subsections (a) and (b) of this section, apportion a sum equal to said amount from all gasoline tax collections as follows: Ninety- seven percent (97%) to the Oklahoma Turnpike Authority, and three percent (3%) to the General Revenue Fund of the State Treasury, after which apportionment all other apportionments of motor fuel excise taxes shall be made according to existing or subsequently enacted apportionment laws, provided that in no event shall the total of the apportionments made pursuant to subsections (a), (b) and (c) of this section exceed the motor fuel tax earned on all of the Oklahoma turnpikes.
Laws 1968, c. 415, § 1727, operative July 1, 1968; Laws 1971, c. 282, § 1, emerg. eff. June 17, 1971; Laws 1986, c. 223, § 50, operative July 1, 1986; Laws 1986, c. 289, § 5, emerg. eff. June 25, 1986; Laws 1989, c. 353, § 6, emerg. eff. June 3, 1989; Laws 1992, c. 191, § 1, emerg. eff. May 11, 1992.