For each fiscal year, the Oklahoma Department of Transportation shall retain five percent (5%) of the total amount of monies contained in the Public Transit Revolving Fund and shall use the retained monies to fund new public mass transportation programs, in areas not served by mass transportation as of July 1, 1990, as authorized and determined by the Department. Eligible entities desiring to begin new public mass transportation programs shall submit a request for monies from the Public Transit Revolving Fund to the Department showing the area to be served, the total mileage of the proposed service, and the amount of funding desired. The Department shall allocate the monies to eligible entities within three (3) months of the date of the request for monies from the Public Transit Revolving Fund. New public mass transportation programs shall receive payment at the rate of seventy-five cents ($0.75) per passenger mile. Any retained monies not allocated during the fiscal year shall remain in the Public Transit Revolving Fund to be allocated as provided in this section and Section 4034 of this title.
Added by Laws 1990, c. 250, § 5, operative July 1, 1990. Amended by Laws 1998, c. 138, § 2, emerg. eff. April 16, 1998; Laws 2007, c. 131, § 1, emerg. eff. May 14, 2007.