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Empowered and directed to encourage, foster, and assist in the development of aviation and aerospace in this state and to encourage the establishment of airports and air navigation facilities, the Oklahoma Aeronautics Commission (OAC) was formally created in 1963 by an act of the Oklahoma Legislature, succeeding the Oklahoma Aviation Commission. Since FY 2002, the Commission has invested $274 million in federal funds and $76.5 million of the $94.5 million it has received in state funds into airport infrastructure. OAC is funded by users of the Oklahoma Airport System and the Legislature through aircraft excise and aviation fuel taxes, aircraft registration fees, and appropriated funds. On average, 81% of funds received go directly back into airports.