A. It is hereby declared to be the purpose of Section 1401 et seq. of this title to provide for the support of the functions of the state and local government of Oklahoma; and for this purpose and to this end, it is hereby expressly provided that the revenues derived hereunder, subject to the apportionment provided in subsection B of this section and to the apportionment requirements for the Oklahoma Tax Commission and Office of Management and Enterprise Services Joint Computer Enhancement Fund provided by Section 265 of this title, are hereby apportioned as follows: 1. The following amounts shall be paid by the Tax Commission to the State Treasurer and placed to the credit of the General Revenue Fund to be paid out pursuant to direct appropriation by the Legislature: Fiscal Year Amount FY 2004 85.35% FY 2005 85.14% FY 2006 85.54% FY 2007 85.04% FY 2008 through FY 2022 83.61% FY 2023 through FY 2027 83.36% FY 2028 and each fiscal year thereafter 83.61%; 2. The following amounts shall be paid to the State Treasurer to be placed to the credit of the Education Reform Revolving Fund of the State Department of Education: a. for FY 2020, ten and forty-six one-hundredths percent (10.46%), b. for FY 2021: (1) for the month beginning July 1, 2020, through the month ending August 31, 2020, ten and forty-six one-hundredths percent (10.46%), and (2) for the month beginning September 1, 2020, through the month ending June 30, 2021, eleven and ninety-six one-hundredths percent (11.96%), and c. for FY 2022 and each fiscal year thereafter, ten and forty-six one-hundredths percent (10.46%); 3. The following amounts shall be paid to the State Treasurer to be placed to the credit of the Teachers' Retirement System Dedicated Revenue Revolving Fund: Fiscal Year Amount FY 2003 and FY 2004 3.54% FY 2005 3.75% FY 2006 4.0% FY 2007 4.5% FY 2008 through FY 2020 5.0% FY 2021: a. for the month beginning July 1, 2020, through the month ending August 31, 2020 5.0% b. for the month beginning September 1, 2020, through the month ending June 30, 2021 3.5% FY 2022 5.0% FY 2023 through FY 2027 5.25% FY 2028 and each fiscal year thereafter 5.0%; 4. a. except as otherwise provided in subparagraph b of this paragraph, for the fiscal year beginning July 1, 2015, and for each fiscal year thereafter, eighty-seven one- hundredths percent (0.87%) shall be paid to the State Treasurer to be further apportioned as follows: (1) thirty-six percent (36%) shall be placed to the credit of the Oklahoma Tourism Promotion Revolving Fund, but in no event shall such apportionment exceed the total amount apportioned pursuant to this division for the fiscal year ending on June 30, 2015, and (2) sixty-four percent (64%) shall be placed to the credit of the Oklahoma Tourism Capital Improvement Revolving Fund, but in no event shall such apportionment exceed the total amount apportioned pursuant to this division for the fiscal year ending on June 30, 2015, and b. any amounts which exceed the limitations of subparagraph a of this paragraph shall be placed to the credit of the General Revenue Fund; and 5. For the fiscal year beginning July 1, 2015, and for each fiscal year thereafter, six one-hundredths percent (0.06%) shall be placed to the credit of the Oklahoma Historical Society Capital Improvement and Operations Revolving Fund, but in no event shall such apportionment exceed the total amount apportioned pursuant to this paragraph for the fiscal year ending on June 30, 2015. Any amounts which exceed the limitations of this paragraph shall be placed to the credit of the General Revenue Fund. B. Prior to the apportionments otherwise provided in this section, there shall be apportioned to the Education Reform Revolving Fund of the State Department of Education the following amounts in the following state fiscal years: FY 2019 $19,600,000.00; and FY 2020 and each year thereafter $20,500,000.00. Added by Laws 1963, c. 368, § 2, emerg. eff. June 18, 1963. Renumbered from § 14-1403 of this title by Laws 1965, c. 215, § 2. Amended by Laws 1977, c. 113, § 2, eff. July 1, 1977; Laws 1996, c. 269, § 4, eff. June 1, 1996; Laws 1999, c. 254, § 9, eff. June 30, 1999; Laws 2002, c. 482, § 2, eff. July 1, 2002; Laws 2003, c. 3, § 65, emerg. eff. March 19, 2003; Laws 2005, c. 479, § 15, eff. July 1, 2005; Laws 2006, 2nd Ex. Sess., c. 44, § 18, eff. July 1, 2007; Laws 2007, c. 105, § 4, eff. Nov. 1, 2007; Laws 2007, c. 366, § 4, eff. Nov. 1, 2007; Laws 2008, c. 278, § 9, eff. July 1, 2008; Laws 2010, c. 466, § 2, eff. July 1, 2010; Laws 2012, c. 304, § 542; Laws 2015, c. 349, § 2, eff. July 1, 2015; Laws 2018, 2nd Ex. Sess., c. 17, § 9, emerg. eff. April 10, 2018; Laws 2020, c. 15, § 2, eff. Sept. 1, 2020; Laws 2021, c. 490, § 1, eff. July 1, 2021.
‹ Prev All Oklahoma sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.