Vote Smart's Synopsis:

Vote to pass a bill that prohibits municipalities from establishing certain taxes and fees on the repayment of borrowed funds, specifically related to utility costs, in Oklahoma.

Highlights:

• Prohibits municipalities from imposing franchise fees on the repayment of borrowed funds under the provisions of the Regulated Utility Consumer Protection Act in Oklahoma (Sec. 1). 

• Specifies that no franchise fees shall be imposed on the securitization revenue stream, including any charges or bond agreements approved by the Oklahoma Corporation Commission (Sec. 2). 

• Specifies that the provisions of this bill are immediately necessary and shall take effect upon passage and approval (Sec. 7). 

Full Bill Text