Oklahoma Senate Bill SJR6

Oklahoma 2022 Regular Session

• Introduced: 2/1/21
• Refer: 2/2/21

Caption

Constitutional amendment; increasing fund threshold and limit for certain expenditures. Ballot title.

Impact

If passed, SJR6 would allow greater flexibility for the Oklahoma Legislature when allocating funds during emergencies, specifically for small businesses impacted by health crises. The legislative intent behind this amendment is to offer timely financial aid that can help stabilize the economy during unforeseen situations, thus potentially preventing job losses and assisting in economic recovery efforts. This could lead to an inherent change in how Oklahoma manages its state budget and emergency responses moving forward.

Summary

SJR6 is a proposed constitutional amendment in Oklahoma that aims to modify the limitations on the expenditure of funds from the Constitutional Reserve Fund. A key aspect of this bill is the removal of an existing limit on expenditures related to helping small businesses affected by catastrophic health emergencies. The bill increases the threshold balance required for such expenditures and the overall amount that can be spent from the fund during a fiscal year, thereby expanding the state's ability to assist businesses in times of crisis.

Contention

While proponents argue that SJR6 is an essential step in ensuring that the state can respond effectively to economic challenges caused by health emergencies, opponents may raise concerns regarding the fiscal implications of increasing the expenditure limits. Critics could argue that loosening restrictions might lead to mismanagement of funds or prioritization issues among different sectors that require state assistance. The conversation surrounding this bill is likely to highlight the balance between providing necessary support and ensuring the responsible management of state resources.