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SENATE FLOOR VERSION
March 3, 2022
COMMITTEE SUBSTITUTE
FOR
SENATE BILL NO. 258 By: Rosino of the Senate
and
Echols of the House
[ aircraft excise tax - apportionment of tax revenue
- effective date -
emergency ]
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 68 O.S. 2021, Section 6005, is
amended to read as follows:
Section 6005. A. For fiscal years beginning prior to July 1,
1999, all revenues derived pursuant to the provisions of Sections
6001 through 6007 of this titl e shall be paid monthly by the
Oklahoma Tax Commission to the State Treasu rer and placed to the
credit of the General Revenue Fund to be paid out pursuant to direct
appropriation by the Legislatur e.
B. 1. For the fiscal year beginning July 1, 1999, fifty
percent (50%) of all revenues derived pursuant to the provisions of
Sections 6001 through 6007 of this title shall be paid monthly by
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the Tax Commission to the State Treasurer and placed to the c redit
of the General Revenue Fund to be paid out pursuant to direct
appropriation by the Legislature, and fifty percent (50%) of the
revenues shall be placed to the credit of the Oklahoma Aeronautics
Commission Revolving Fund.
2. For fiscal year 2001 thro ugh fiscal year 2015 For the fiscal
year beginning July 1, 2022, and all subsequent fiscal years , one
hundred percent (100%) of the reven ues derived pursuant to the
provisions of Sections 6001 through 6007 of t his title shall be paid
monthly by the Oklahoma Tax Commission to the State Treasurer and
shall be placed to the credit of the Oklahoma Aeronautics Commission
Revolving Fund.
3. For the fiscal year beginning July 1, 2015, and for each
fiscal year thereafter, the f irst Four Million Five Hundred Thousa nd
Dollars ($4,500,000.00) of the revenues each fiscal year derived
pursuant to the provisions of Sections 6001 through 6007 of this
title shall be paid by the Tax Commission to the St ate Treasurer and
placed to the credit of the Oklahoma Aeronautics Commi ssion
Revolving Fund, and all such revenues derived each fis cal year in
excess of Four Million Five Hundred Thousand Dollars ($4,500,000.00)
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 Legislat ure.
SECTION 2. This act shall become effective July 1, 2022.
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SECTION 3. It being immediately necessary for the preservation
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereo f this act shall take effect and
be in full force from and after its passage and approval.
COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS
March 3, 2022 - DO PASS AS AMENDED