Oklahoma 2022 Regular Session

Oklahoma Senate Bill SB280 Compare Versions

Version 1 (Old)

Version 2 (New)

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4		-	An Act
5		-	ENROLLED SENATE
	29	+	HOUSE OF REPRESENTATIVES - FLOOR VERSION
	30	+
	31	+	STATE OF OKLAHOMA
	32	+
	33	+	1st Session of the 58th Legislature (2021)
	34	+
	35	+	ENGROSSED SENATE
6	36		BILL NO. 280 By: Quinn of the Senate
7	37
8	38		and
9	39
10	40		Humphrey, Boles, Gann and
11	41		Lepak of the House
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16	47		An Act relating to county budget process; allowing
17	48		counties to establish certain funds; defining terms;
18	49		establishing source of funds; providing parameters
19	50		for when funds can be used; allowing for the Office
20	51		of the State Auditor and Inspector to establish
21	52		proper documentation; providing for codification;
22	53		providing an effective date; and declaring an
23	54		emergency.
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28		-	SUBJECT: County budget processes
29		-
30	59		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
31		-
32	60		SECTION 1. NEW LAW A new section of law to be codified
33	61		in the Oklahoma Statutes as Section 3034 of Title 68, unless there
34	62		is created a duplication in numbering, reads as follows:
35		-
36	63		This act shall permit counties with an excise board as per
37	64		Section 3005.1 of Title 68 of the Oklahoma Statutes or budget board
38	65		as per Section 1407 of Title 19 of the Oklahoma Statut es to
39	66		establish a rainy day fund and capital reserve fund, such that each
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	68	+	SB280 HFLR Page 2
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40	94		will be its own continuing fund carrying over its balance from year
41	95		to year.
42		-
43	96		SECTION 2. NEW LAW A new section of law to be codified
44	97		in the Oklahoma Statutes a s Section 3034.1 of Title 68, unless there
45	98		is created a duplication in numbering, reads as follows:
46		-
47		-
48		-	ENR. S. B. NO. 280 Page 2
49	99		A. As used in this act, a “rainy day fund” shall be a cash
50	100		account to pay for unforeseen future emergencies or loss in revenue
51	101		for the county budget. The rainy day fund shall be funded with
52	102		surplus funds or monies receipted over and above the itemized
53	103		estimate of needs for the general fund. Such transfers from the
54	104		surplus funds shall occur at the time of the budget approval. The
55	105		balance of the rainy day fund shall not be part of the general
56	106		budget within the estimate of needs but shall be recorded on the
57	107		estimate of needs as a special fund. When the county has excess
58	108		funds, the county may by resolution deposit the funds in the rainy
59	109		day fund. However, after funds are so transferred, they are not
60	110		transferable back to the original source. The rainy day fund may
61	111		contain up to, but not more than, fifty percent (50%) of the
62	112		previous year’s approved budget.
63		-
64	113		B. 1. Up to one-half (1/2) of the balance of the rainy day
65	114		fund may be used for natural disasters that are declared such by the
66	115		Governor, board of county commissioners or by the federal
67	116		government. Such expenditures must be spent in accordance with
68	117		Section 1500 et seq. of Title 19 of the Oklahoma Statutes .
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70	145		2. Up to one-eighth (1/8) of the balance of the rainy day fund
71	146		may be used to supplement the county ’s current general budget if it
72	147		is less than the previous year ’s budget.
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74	148		3. Up to one-eighth (1/8) of the balance of the rainy day fund
75	149		may be used to supplement the current year ’s revenue when
76	150		collections come in shorter than estimated and a revenue failure is
77	151		declared by the board of county commissioners.
78		-
79	152		SECTION 3. NEW LAW A new section of law to be codified
80	153		in the Oklahoma Statu tes as Section 3034.2 of Title 68, unless there
81	154		is created a duplication in numbering, reads as follows:
82		-
83	155		A. As used in this act, a “capital reserve fund ” shall be a
84	156		cash account, which may be used to pay for long-term capital needs
85	157		of the county. The capital reserve fund shall be funded from the
86	158		general budget or other legal source. The balance of the capital
87	159		reserve fund shall not be part of the general budget within the
88	160		estimate of needs but shall be recorded on the estimate of needs as
89	161		a special fund. When the county has excess funds, the county may by
90	162		resolution deposit the funds in the capital reserve fund. However,
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92		-	ENR. S. B. NO. 280 Page 3
93	163		after the funds are so transferred, they are not transferable back
94	164		to the original source.
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96	165		B. Expenditures may be made out of the cap ital reserve fund as
97	166		needed and determined by the board of authority. Expenditures are
98	167		limited to county facilities. Such expend itures must be spent in
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99	195		accordance with Section 1500 et seq. of Title 19 of the Oklahoma
100	196		Statutes.
101		-
102	197		C. The Office of the State Auditor and Inspector may establish
103	198		proper documents and procedures.
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105	199		SECTION 4. This act shall become effective July 1, 2021.
106		-
107	200		SECTION 5. It being immediately necessary for the preservation
108	201		of the public peace, health or s afety, an emergency is hereby
109	202		declared to exist, by reason whereof this act shall take effect and
110	203		be in full force from and after its passage and approval.
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113		-	ENR. S. B. NO. 280 Page 4
114		-	Passed the Senate the 4th day of March, 2021.
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118		-	Presiding Officer of the Senate
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121		-	Passed the House of Representatives the 12th day of April, 2021.
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125		-	Presiding Officer of the House
126		-	of Representatives
127		-
128		-	OFFICE OF THE GOVERNOR
129		-	Received by the Office of the Governor this _______ _____________
130		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
131		-	By: _____________________________ ____
132		-	Approved by the Governor of the State of Oklahoma this _____ ____
133		-	day of _________________ __, 20_______, at _______ o'clock _______ M.
134		-
135		-	_________________________________
136		-	Governor of the State of Oklahoma
137		-
138		-
139		-	OFFICE OF THE SECRETARY OF STATE
140		-	Received by the Office of the Secretary of State this _______ ___
141		-	day of __________________, 20 _______, at _______ o'clock _______ M.
142		-	By: _______________________________ __
	205	+	COMMITTEE REPORT BY: COMMITTEE ON COUNTY AND MUNICIPAL GOVERNMENT,
	206	+	dated 03/29/2021 - DO PASS, As Coauthored.