Oklahoma 2023 Regular Session

Oklahoma Senate Bill SB205 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	SENATE FLOOR VERSION - SB205 SFLR Page 1
4		-	(Bold face denotes Committee Amendments) 1
	3	+	Req. No. 1952 Page 1 1
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29		-	SENATE FLOOR VERSION
30		-	March 1, 2023
	28	+	STATE OF OKLAHOMA
	29	+
	30	+	1st Session of the 59th Legislature (2023)
	31	+
	32	+	COMMITTEE SUBSTITUTE
	33	+	FOR
	34	+	SENATE BILL 205 By: Dahm, Bullard, and Jett
	35	+
	36	+
	37	+
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33	40		COMMITTEE SUBSTITUTE
34		-	FOR
35		-	SENATE BILL NO. 205 By: Dahm, Bullard, and Jett of
36		-	the Senate
37		-
38		-	and
39		-
40		-	Hilbert of the House
41		-
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44	41
45	42		[ oil and gas - State Strategic Petroleum Reserve -
46	43		appropriation – codification -
47	44		emergency ]
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53	50		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
54	51		SECTION 1. NEW LAW A new se ction of law to be codified
55	52		in the Oklahoma Statutes as Section 281 of Title 52, unless there is
56	53		created a duplication in numbering, reads as follows:
57	54		A. 1. Beginning July 1, 2023, and each fiscal year thereafter,
58	55		the Legislature may appropriate any surp lus funds that are not
59	56		constitutionally required to be de posited into the Constitutional
60	57		Reserve Fund and are not otherwise en cumbered to establish and
61	58		maintain a State Strategic Petroleum Reserve. The Reserve shall
62	59		contain up to fifteen million barrels of crude oil. The Corporation
63	60		Commission shall maintain the Reserve and is authorized to
64	61		promulgate rules necessary to effectu ate the provisions of this act.
65	62
66		-	SENATE FLOOR VERSION - SB205 SFLR Page 2
67		-	(Bold face denotes Committee Amendments) 1
	63	+	Req. No. 1952 Page 2 1
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92	88		2. For the purposes of this act, “State Strategic Petroleum
93	89		Reserve” means state-owned oil stocks maintained in oil wells within
94	90		the boundaries of this state.
95	91		B. Oil may be released fr om the Reserve by executive order of
96	92		the Governor or by direction of the Legislature if a measure
97	93		directing the release is enacted; provided, evidence of one or more
98	94		of the following conditions or cir cumstances for release shall be
99	95		established:
100	96		1. The state or any oil-producing entity operati ng in the state
101	97		faces a disruption in supply;
102	98		2. An exchange agreement w ith another country, state, political
103	99		subdivision, or oil company is entered into;
104	100		3. The Governor has declared a state of emergency;
105	101		4. Non-emergency sales are deemed necessary to raise revenue or
106	102		lessen supply disruptions;
107	103		5. The National Guard of Oklahoma or any other emergency
108	104		response entity of th is state or a political subdivision of this
109	105		state demonstrates to the Legislature an increased need for oil; or
110	106		6. The price of gas or diesel has increased by more than
111	107		twenty-five percent (25%) within a three-month period; provided, oil
112	108		shall be released to service statio ns only following such stations
113	109		entering into an agreement or contract that the oil shall be used to
114	110		lower the cost of gas and diesel to consumers in this state.
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116		-	SENATE FLOOR VERSION - SB205 SFLR Page 3
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142	137		SECTION 2. It being immediately necessary for the preservation
143	138		of the public peace, health or safety , an emergency is hereby
144	139		declared to exist, by reason whereof this a ct shall take effect and
145	140		be in full force from and after its passage and approval.
146		-	~~COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS~~
147		-	~~March~~ 1, 2023 ~~- DO PASS AS AMENDED BY CS~~
	141	+
	142	+	59-1-1952 RD 3/1/2023 5:09:20 PM