Oklahoma 2022 Regular Session

Oklahoma Senate Bill SJR35 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	ENGR. S. J. R. NO. 35 Page 1 1
	3	+	SENATE FLOOR VERSION – SJR35 SFLR Page 1
	4	+	(Bold face denotes Committee Amendments) 1
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28		-	ENGROSSED SENATE
29		-	JOINT
	29	+	SENATE FLOOR VERSION
	30	+	March 2, 2022
	31	+	AS AMENDED
	32	+
	33	+	SENATE JOINT
30	34		RESOLUTION NO. 35 By: Jech of the Senate
31	35
32	36		and
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34	38		Newton of the House
	39	+
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38	43		[ proposed amendment to the Oklahoma Constitution -
39	44		individual income tax collections exceeding certain
40	45		amount placed in certain fund - ballot title -
41	46		directing filing ]
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46	51		BE IT RESOLVED BY THE SEN ATE AND THE HOUSE OF RE PRESENTATIVES OF THE
47	52		2ND SESSION OF THE 58TH OKLAHOMA LEGISLATURE:
48	53		SECTION 1. The Secretary of State shall refer to the people for
49	54		their approval or rejection, as and in the mann er provided by law,
50	55		the following proposed amendment to the Oklahoma Constitution by
51	56		adding a new Section 12b to Article X thereof, to read as follows:
52	57		Section 12b. A. For any income taxes levied upon individuals
53	58		pursuant to Section 12 of this Article , if the revenues collected
54	59		for any taxable year exceed the average revenues collected from the
55	60		previous five (5) years, th ose excess revenues collected shall be
56	61		placed in the Taxpayer Allocation Progr am Fund by the State
57	62		Treasurer.
58		-	B. In the event the balance of the Taxpayer Allocation Program
59		-	Fund exceeds Four Hundred Million Dollars ( $400,000,000.00), that
60		-	amount shall be expended for the purpose of providing a refundable
61	63
62		-	ENGR. S. J. R. NO. 35 Page 2 1
	64	+	SENATE FLOOR VERSION – SJR35 SFLR Page 2
	65	+	(Bold face denotes Committee Amendments) 1
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	90	+	B. In the event the balance of the T axpayer Allocation Program
	91	+	Fund exceeds Four Hundred Million Dollars ( $400,000,000.00), that
	92	+	amount shall be expended for the purpose of providing a refundable
87	93		credit to Oklahoma residents who file an individual income tax
88	94		return for the following tax year . The credit to taxpayers filing
89	95		as married filing jointly, surviving spouse, or head of household
90	96		shall be equal to two (2) times the credit to taxpayers filing as an
91	97		individual or married filing separately.
92	98		SECTION 2. The Ballot Title f or the proposed Constitutio nal
93	99		amendment as set forth in SECTION 1 of this resolution shall be in
94	100		the following form:
95	101		BALLOT TITLE
96	102		Legislative Referendum No. ____ State Question No. ____
97	103		THE GIST OF THE PROPOSITION IS AS FOLLOWS:
98	104		This measure amends Articl e 10 of the Oklahoma Constit ution by
99	105		adding a new Section 12b. It requires that individual income
100	106		tax revenue collections exceeding the average of the previous
101	107		five year’s revenue collections be deposited into a fund known
102	108		as the Taxpayer Allocation Progr am Fund. Whenever the bala nce
103	109		of the Taxpayer Allocation Program Fund exceeds Four Hundred
104	110		Million Dollars ($400,000,000.00), that amount shall be p rovided
105	111		as an income tax credit for Ok lahoma residents the following tax
106	112		year. The credit shall be t wo times the amount for residents
107	113		filing as married filing joint ly, surviving spouse, or head of
108		-	household as those filing as individual or married filing
109		-	separately.
110		-	SHALL THE PROPOSAL BE APPR OVED?
111	114
112		-	ENGR. S. J. R. NO. 35 Page 3 1
	115	+	SENATE FLOOR VERSION – SJR35 SFLR Page 3
	116	+	(Bold face denotes Committee Amendments) 1
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	141	+	household as those filing as individual or married filing
	142	+	separately.
	143	+	SHALL THE PROPOSAL BE APPR OVED?
137	144		FOR THE PROPOSAL — YES _____________
138	145		AGAINST THE PROPOSAL — NO _____________
139	146		SECTION 3. The President Pro Tempore of the Senate shall,
140	147		immediately after the passage of this resolution, prepare a nd file
141	148		one copy thereof, including th e Ballot Title set forth in SECTION 2
142	149		hereof, with the Secretary of S tate and one copy with the A ttorney
143	150		General.
144		-	Passed the Senate the 21st day of March, 2022.
145		-
146		-
147		-
148		-	Presiding Officer of the Senate
149		-
150		-
151		-	Passed the House of Representatives the ____ day of __________,
152		-	2022.
153		-
154		-
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156		-	Presiding Officer of the House
157		-	of Representatives
158		-
	151	+	COMMITTEE REPORT BY: COMMITT EE ON APPROPRIATIONS
	152	+	March 2, 2022 - DO PASS AS AMENDED