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ENGROSSED HOUSE AMENDME NT
TO
ENGROSSED SENATE BILL NO . 1399 By: Hall of the Senate
and
McBride and Wallace of the
House
[ state fiscal affairs - investment - guidelines -
fund - report - funds - membership - reimbursement -
Commission - plans - rules - performance audit -
apportionment - codification - effective date -
emergency ]
AUTHOR: Add the following House Coauthor: Deck
AMENDMENT NO. 1. Strike the stricken title, enacting clause, and
entire bill and insert:
"An Act relating to state property; creating the
Oklahoma Capital Assets Maintenance and Protection
Act; creating the Oklahoma Capital Ass ets Maintenance
and Protection Fund; establishing revolving fund
characteristics; authorizing and limiting allocation,
budgeting, and expenditure of funds; requiring
certain budgeting and expenditure procedures ;
authorizing entry into memoranda of understandings;
limiting memoranda of understandings; clarifying
legal application; authorizing certain authority
related to real and personal property acquisition,
improvement, and disposition ; requiring certain
reporting; establishing reporting criteria; creating
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the Oklahoma Capital Assets Management and Protection
Board; providing for membership; establishing
appointing authorities; providing for selection of
Board leadership; providing for the development and
adoption of the OCAMP -Higher Education Five -year
Plan, the OCAMP-Tourism and Recreation Five-year
Plan, and the OCAMP-State Five-year Plan; allocating
monetary resources to such plans in certain
proportions; requiring biennial update of plans by
Board; requiring submission of certain reports
electronically; providing for administrative
assistance from the Office of Management and
Enterprise Services and the Oklahom a Capitol
Improvement Authority; authorizing and limiting the
utilization of funds directed by the Board; amending
68 O.S. 2021, Section 1353, as las t amended by
Section 2, Chapter 290, O.S.L. 2023 (68 O.S. Supp.
2023, Section 1353), which relates to apportionment
of sales tax revenues; providing for certain annual
apportionment to the Oklahoma Capital Ass ets
Maintenance and Protection Fund; providing for
noncodification; provi ding for codification; and
providing an effective date .
BE IT ENACTED BY THE PEOPLE OF THE S TATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law not to be
codified in the Oklahoma Statutes reads as follows:
This act shall be known and may be cited as the "Oklahoma
Capital Assets Maintenance and Protection Act".
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 188B of Title 73, unless there
is created a duplication in numbering, reads as follows:
A. There is hereby created in the S tate Treasury a revolving
fund for the Oklahoma Capitol Improvement Authority to be designated
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the "Oklahoma Capital Ass ets Maintenance and Protection Fund" (OCAMP
Fund). The fund shall be a continuing fund , not subject to fiscal
year limitations, and shall consist of all monie s received by the
Oklahoma Capitol Improv ement Authority eligible under law and
directed for deposit to the fund. All monies accruing to the credit
of said fund are hereby appropriated an d may be allocated, budgeted,
and expended by the Oklahoma Capitol Improvement Authority as
directed by the Oklahoma Capital Assets Management and Protection
Board created in Section 3 of this act. Such allocations,
budgeting, and expenditures shall strictly adhere to the specific
terms, limitations, purposes, and requirements described in the
directive adopted by the Oklahoma Capital Assets Management and
Protection Board. Expenditures from said fund shall be made upon
warrants issued by the State Treasurer against claims filed as
prescribed by law with the Director of the Office of Management and
Enterprise Services for approval and payment.
B. The Oklahoma Capitol Improvement Authority shall be
authorized to enter in to memoranda of understan ding with agencies,
departments, and subdivisions of the state as provided by law and as
deemed necessary by the Authority to administer expenditures from
and allocations and deposits to and from the Oklahoma Capital Ass ets
Maintenance and Protection Fund; provided that such memoranda of
understanding do not co nflict with or impede t he administration of
capital projects speci fically authorized by law or directed by the
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Oklahoma Capital Assets Management and Protection Board. Such
memoranda of understanding shall not constitute a legal obli gation
of the State of Oklahoma.
C. Limited to the extent required for projects specifically
authorized under the provisions of this act, the Oklahoma Capitol
Improvement Authority shall be author ized to:
1. Acquire real property tog ether with improvements located
thereon and personal property;
2. Provide for the construction of improvements to real
property and to provide funding for rep airs, refurbishments,
deferred maintenance, and improvement s to real and personal
property;
3. Hold title to property and improvements as necessary to
comply with legal directives and authorizations; and
4. Lease, transfer, and otherwise legally dispose of property
and improvements as necessary to comply with le gal directives and
authorizations.
D. No later than January 15 annually, the Okl ahoma Capitol
Improvement Authority shall submit electronically to the Governor,
the Speaker of the Oklahoma House of Representatives, the President
Pro Tempore of the Oklahoma State Senate, the Appropriations and
Budget Chair of the Oklahoma House of Repr esentatives, and the
Appropriations Chair of the Oklahoma State Senate a report detailing
impacts to the balance of the Oklahoma Capital Ass ets Maintenance
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and Protection Fund occurring in the prior calendar year, including ,
but not limited to, all distributions, expenditures, c ollections,
deposits, and investment returns of the Oklahoma Capital Ass ets
Maintenance and Protection Fund.
SECTION 3. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 188A of Title 73, unless there
is created a duplication in numbering, reads as follows:
A. There is hereby created the Oklahoma Capital Assets
Management and Protection Board (OCAMP Board). The Board shall
develop plans and adopt authorizations directing the Oklahoma
Capitol Improvement Authority on the utilization of Oklahoma Capital
Assets Maintenance and Protection Fund monies.
B. The Board shall consist of eleven (11) members to be
appointed as follows:
1. Three members appointed by the Speaker of the Oklahoma House
of Representatives;
2. Three members appointed by the President Pro Tempore of the
Oklahoma State Senate;
3. Three members appointed by the Governor , at least one of
whom shall have no less than ten (10) years experience in the
construction industry;
4. The Chancellor of Higher Education or a designee; and
5. The Executive Director of the Oklahoma Tourism and
Recreation Department or a des ignee.
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C. The chair and vice-chair of the Board shall be elected by
the Board members at the first meeting of the Board and shall
preside over meetings of the Board and perform other duties as may
be required by the Board. The Board shall elect a chair a nd vice-
chair no less than once a calendar year.
D. 1. The Board shall develop and adopt the following five-
year plans to provide for allocations and expenditures of the
Oklahoma Capital Ass ets Maintenance and Protection Fund as follows:
a. the OCAMP-Higher Education Five-year Plan, for the
maintaining and repairing of state-owned properties
and buildings of public institutions of higher
learning,
b. the OCAMP-Tourism and Recreation Five-year Plan, for
the maintaining and repairin g of properties and
buildings of state parks operated by the Oklahoma
Tourism and Recreation Department , and
c. the OCAMP-State Five-year Plan, for the maintaining
and repairing of all state-owned properties and
buildings.
2. The Board shall allocate Oklahoma Capital Assets Maintenance
and Protection Fund monies to such Five-year Plans in the following
proportions:
a. the OCAMP-Higher Education Five-year Plan shall be
allocated fifty-two percent (52%) of such monies.
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Such amount shall be further allocated forty-four
percent (44%) for public four-year institutions of
higher learning considered research universities ,
twenty-nine percent (29%) for public four-year
institutions of higher learning not considered
research universities , and twenty-seven percent (27%)
for public two-year institutions of higher learning,
b. the OCAMP-Tourism and Recreation Five-year Plan shall
be allocated twenty-four percent (24%) of such monies,
and
c. the OCAMP-State Five-year Plan shall be allocated
twenty-four percent (24%) of such monies.
E. The Board shall update each Five-year Plan no less often
than biennially. Upon the adoption of such plans and upon each
update to such plans, a report detailing such plans shall be
submitted by electronic means to the Governor, the Speaker of the
House of Representatives , and the President Pro Tempore of the
Senate.
F. The Office of Management and Ent erprise Services, with the
advice and assistance of the Oklahoma Capitol Improvement Authority ,
shall provide staffing for the Board and other such assistance as
the Board may require.
G. The Board may direct the Oklahoma Capitol Imp rovement
Authority to allocate, budget, and expend, either directly or under
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the terms of lawfully entered into memorand a of understanding with
other state entities, monies from the Oklahoma Capital Ass ets
Maintenance and Protection Fund on any project or item that has been
included in an applicable Five-year Plan authorized under the
provisions of this act for no less than one (1) year.
SECTION 4. AMENDATORY 68 O.S. 2021, Section 1353, as
last amended by Section 2, Chapter 290, O.S.L. 2023 (68 O.S. Sup p.
2023, Section 1353), is amended to read as follows:
Section 1353. A. It is hereby declared to be the purpose of
the Oklahoma Sales Tax Code to provide funds for the financing of
the program provided for by the Oklahoma Soci al Security Act and to
provide revenues for the su pport of the functions of the state
government of Oklahoma, and for this purpose it is hereby expressly
provided that, revenues derived pursuant to the provisions of the
Oklahoma Sales Tax Code, subject to the apportionment require ments
for the Oklahoma Tax Commission and Office of Management and
Enterprise Services Joint Computer Enhancement Fund provided by
Section 265 of this title , and further subject to the appor tionment
requirement provided in subsection D of this section , shall be
apportioned as follows:
1. Except as provided in subsection C of this section, the
following amounts shall be paid to the State Treasurer to be placed
to the credit of the General Revenue Fund to be paid out pursuant to
direct appropriation by the Legi slature:
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Fiscal Year Amount
FY 2003 and FY 2004 86.04%
FY 2005 85.83%
FY 2006 85.54%
FY 2007 85.04%
FY 2008 through FY 2022 83.61%
FY 2023 through FY 2027 83.36%
FY 2028 and each fiscal year therea fter 83.61%;
2. The following amounts shall be paid to the State Treasurer
to be placed to the credit of the Education Reform Revolving Fund of
the State Department of Education:
a. for FY 2003, FY 2004 and FY 2005, ten and forty -two
one-hundredths percent (10.42%),
b. for FY 2006 through FY 2020, ten and forty -six one-
hundredths percent (10.46%),
c. for FY 2021:
(1) for the month beginning July 1, 2020, through the
month ending August 31, 2020, ten and forty -six
one-hundredths percent (10.46%), and
(2) for the month beginning September 1, 2020,
through the month ending June 30, 2021, eleven
and ninety-six one-hundredths percent (11.96%),
d. for FY 2022 and each fiscal year thereafter, ten and
forty-six one-hundredths percent (10.46%);
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3. The following amo unts shall be paid to the State Treasurer
to be placed to the credit of the Teach ers' Retirement System
Dedicated Revenue Revolving Fund:
Fiscal Year Amount
FY 2003 and FY 2004 3.54%
FY 2005 3.75%
FY 2006 4.0%
FY 2007 4.5%
FY 2008 through FY 2020 5.0%
FY 2021:
a. for the month beginning July
1, 2020, through the m onth
ending August 31, 2020 5.0%
b. for the month beginning
September 1, 2020, through
the month ending June 30,
2021 3.5%
FY 2022 5.0%
FY 2023 through FY 2027 5.25%
FY 2028 and each fiscal year th ereafter 5.0%;
4. a. except as otherwise provided in subp aragraph b of this
paragraph, for the fiscal year beginning July 1, 2022,
and for each fiscal year thereafter, eighty -seven one-
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hundredths percent (0.87%) shall be paid to the State
Treasurer to be further apportioned as follows:
(1) twenty-four percent (24%) shall be placed to the
credit of the Oklahoma Tourism Promotion
Revolving Fund, but in no event shall such
apportionment exceed Five Million Dollars
($5,000,000.00) in any fiscal year,
(2) forty-four percent (44%) shall be placed to the
credit of the Oklahoma Tourism Capita l
Improvement Revolving Fund, but in no event shall
such apportionment exceed Nine Million Dollars
($9,000,000.00) in any fiscal year, and
(3) thirty-two percent (32%) shall b e placed to the
credit of the Oklahoma Route 66 Commission
Revolving Fund, but in no event shall such
apportionment exceed Six Million Six Hundred
Thousand Dollars ($6,600,000.00) in any fiscal
year, and
b. any amounts which exceed the limitations of
subparagraph a of this paragraph shall be placed to
the credit of the General Revenue Fund; and
5. For the fiscal year beginning July 1, 2015, and for each
fiscal year thereafter, six one -hundredths percent (0.06%) shall be
placed to the credit of the Oklahoma Historical Society Capital
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Improvement and Operations Revo lving Fund, but in no event shall
such apportionment exceed the total amount apportioned pursuant to
this paragraph for the fiscal year ending on June 30, 2015. Any
amounts which exceed the limita tions of this paragraph shall be
placed to the credit of th e General Revenue Fund .
B. Provided, for the fiscal year beginning July 1, 2007, and
every fiscal year thereafter, an amount of revenue shall be
apportioned to each municipality or county which le vies a sales tax
subject to the provisions of Section 1357. 10 of this title and
subsection F of Section 2701 of this title equal to the amount of
sales tax revenue of such municipality or county exempted by the
provisions of Section 1357.10 of this title a nd subsection F of
Section 2701 of this title. The Oklahom a Tax Commission shall
promulgate and adopt rules necessary to implement the provisions of
this subsection.
C. From the monies that would otherwise be apportioned to the
General Revenue Fund pursu ant to subsection A of this section, there
shall be apportioned the following amo unts:
1. For the month ending August 31, 2019:
a. Nine Million Six Hundred Thousand Dollars
($9,600,000.00) to the credit of the State Highway
Construction and Maintenance Fu nd created in Section
1501 of Title 69 of the Oklahoma Stat utes, and
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b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 309 of Title 66 of the Oklahoma
Statutes;
2. For the month end ing September 30, 2019:
a. Twenty Million Dollars ($20,000, 000.00) to the credit
of the State Highway Construction and Maintenance Fund
created in Section 1501 of Title 69 of the Oklahoma
Statutes, and
b. Two Million Dollars ($2,000,000.00) to the credit o f
the Oklahoma Railroad Maintenanc e Revolving Fund
created in Section 309 of Titl e 66 of the Oklahoma
Statutes;
3. For the month ending October 31, 2019:
a. Twenty Million Dollars ($20,000,000.00) to the credit
of the State Highway Construction and Mainte nance Fund
created in Section 1501 of Title 69 of the Oklah oma
Statutes, and
b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 309 of Title 66 of the Oklahoma
Statutes;
4. For the month ending November 30, 2019:
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a. Twenty Million Dollars ($ 20,000,000.00) to the credit
of the State Highway Construction and Maintenance Fund
created in Section 1501 of Title 69 of the Oklahoma
Statutes, and
b. Two Million Dollars ($2,000,000.00) to the c redit of
the Oklahoma Railroad Mai ntenance Revolving Fund
created in Section 309 of Title 66 of the Oklahoma
Statutes; and
5. For the month ending December 31, 2019:
a. Twenty Million Dollars ($20,000,000.00) to the credit
of the State Highway Constructio n and Maintenance Fund
created in Section 1501 of Title 69 of the Oklahoma
Statutes, and
b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 309 of Title 66 of the Oklahoma
Statutes.
D. For the fiscal year beginning July 1, 20 28, and for each
fiscal year thereafte r, Fifty Million Dollars ($50,000,000.00) shall
be placed to the credit of the Oklahoma Capital Ass ets Maintenance
and Protection Fund created in Section 2 of this act.
SECTION 5. This act shall become effective November 1, 2024."
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Passed the House of Represen tatives the 22nd day of April, 2024.
Presiding Officer of the House of
Representatives
Passed the Senate the ____ day of _______ ___, 2024.
Presiding Officer of the Senate
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ENGROSSED SENATE
BILL NO. 1399 By: Hall of the Senate
and
McBride and Wallace of the
House
[ state fiscal affairs - investment - guidelines -
fund - report - funds - membership - reimbursement -
Commission - plans - rules - performance audit -
apportionment - codification - effective date -
emergency ]
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 6. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 34.602 of Title 62, un less there
is created a duplication in numbering, reads as follows:
A. There is hereby created in the State Treasury a fund to be
known and designated as the “Oklahoma Long-Range Capital Planning
Legacy Fund”. The fund shall be a continuing fund, not sub ject to
fiscal year limitations, and shall consist of surplus monies and
savings appropriated by the Legislature and all apportionments .
B. The State Treasurer shall appoint qualified investment
managers to provide for the investment of the monies of the fund.
The investments shall be consistent with the manner in which state
retirement funds are invested. The risk of large losses shall be
minimized by diversifying the investments in the fund, including the
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length of time of the investment, unless, under the circumstances,
it is clearly prudent not to do so. The investment managers may
sell investments and realize losses if such action is considered
advantageous to longer -term return maximization.
C. The fund principal shall consist of monies which are
deposited to the fund. Notwithstanding any other provisions of law,
income and investment return on fund principal shall accrue to the
fund.
D. For each fiscal year, the Treasurer shall make available a
report on its website detailing the present value o f the investments
and assets in the Oklahoma Long -Range Capital Planning Legacy Fund
and the increase in value from the previous fiscal year.
E. Except as provided for in subsection F of this section, upon
a determination by the Treasurer, through the rep ort provided
pursuant to subsection D of this section, of the increa se in the
value of the Oklahoma Long -Range Capital Planning Legacy Fund, the
State Asset Legacy Commission, created pursuant to Section 2 of this
act, may make a request for transfer of up to forty percent (40%) of
the increase in value of the fund, not including any appropriations
or apportionments to the fund, as determined by the Treasurer, not
to exceed Seventy-five Million Dollars ($75,000,000.00), to the
State Asset Legacy Fund create d pursuant to Section 2 of this act .
For fiscal year 2025 and subsequent fiscal years, subject to the
availability of funds, the State Asset Legacy Commission may request
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an additional amount not to exceed Fifty Million Dollars
($50,000,000.00) for transf er to the State Asset Legacy Fund .
F. Investment managers ap pointed pursuant to subsection B of
this section shall maintain a reasonable proportion of liquid assets
in the Oklahoma Long -Range Capital Planning Legacy Fund in order to
facilitate any expecte d transfers requested pursuant to subsection E
of this section. In the event the balance of the Oklahoma Long -
Range Capital Planning Legacy Fund is insufficient or the cash
available in the fund is insufficient due to lack of liquid assets
to make the transfers required pursuant to subsection E of this
section, the entire balance available for transfer shall be
transferred to the fund.
SECTION 7. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 909 of Title 62, unless there is
created a duplication in numbering, reads as follows:
A. There is hereby created the State Asset Legacy Fund. The
fund shall be a continuing fund, not subject to fiscal year
limitations, and shall consist of monies designated fo r deposit from
the Oklahoma Long-Range Capital Planning Legac y Fund created
pursuant to Section 1 of this act . All monies accruing to the
credit of the fund are hereby appropriated and may be expended
exclusively for maintaining and repairing state -owned properties and
buildings pursuant to the procedures set forth in sub section C of
this section. Expenditures from the fund shall be made upon
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warrants issued by the State Treasurer against claims filed as
prescribed by law with the Director of the Office o f Management and
Enterprise Services for approval and payment . Expenditures from the
State Asset Legacy Fund shall be detailed in a data feed and made
available through the data.ok.gov web portal.
B. There is hereby created the State Asset Legacy Commiss ion to
develop plans for expenditures from the State Asset Legacy Fu nd.
The Commission shall consist of eleven (11) members as follows:
1. The members appointed to the Long -Range Capital Planning
Commission created pursuant to Section 901 of Title 62 of the
Oklahoma Statutes;
2. The Chancellor of Higher Education or a designee; and
3. The Executive Director of the Oklahoma Tourism and
Recreation Department or a designee.
A chair of the Commission shall be elected from its membership.
Six members of the Commission shall constitute a quorum. Members of
the Commission shall serve without compensation, but shall be
entitled to reimbursement, pursuant to the State Travel
Reimbursement Act, for expenses incurred in the performance of their
duties.
C. The Commission shall develop three distinct five -year plans
to provide for expenditures from the State Asset Legacy Fund as
follows:
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1. For the maintaining and repairing of state-owned properties
and buildings of public institutions of higher learning. Twenty -
five percent (25%) of deposits to the State Asset Legacy Fund shall
be expended pursuant to this plan, which shall be subject to the
following limitations:
a. thirty percent (30%) of the planned expenditures shall
be for public research universities, and
b. seventy percent (70%) of the planned expenditures
shall be for all other public institutions of higher
learning;
2. For the maintaining and repairing of properties and
buildings of state parks operated by the Oklahoma Tourism and
Recreation Department. Fifteen percent (15%) of deposits to the
State Asset Legacy Fund sh all be expended pursuant to this plan; and
3. For the maintaining and repairing of all other state -owned
properties and buildings. Sixty percent (60%) of deposits to the
State Asset Legacy Fund shall be expended pursuant to this plan.
D. The plans created by the Commission pursuant to subsection C
of this section shall supplement the existing plans created by the
Long-Range Capital Planning Commission pursuant to Section 901 of
Title 62 of the Oklahoma Statutes. The Commission shall biennially
update each five-year plan. Upon the creation of the plans and upon
each update to the plans, the plans shall be submitted by electronic
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means to the Governor, the President Pro Tempore of the Sen ate, and
the Speaker of the House of Representatives.
E. The Commission shall have the authority to promulgate rules
and regulations necessary to implement the provisions of this act.
F. The Office of Management and Enterprise Services, with the
advice and assistance of the Deputy Treasurer for Debt Management ,
shall provide staffing for the Commission and other such assistance
as the Commission may require.
G. The five-year plans created pursuant to this section shall
be subject to performance audits by the Legislative Office of Fiscal
Transparency upon request b y the oversight committee created
pursuant to Section 8013 of Title 62 of the Oklahoma Statutes.
SECTION 8. AMENDATORY 68 O.S. 2021, Section 1353, as
last amended by Section 2, Chapter 290, O.S.L. 2023 (68 O.S. Supp.
2023, Section 1353), is amended to read as follows:
Section 1353. A. It is hereby declared to be the purpose of
the Oklahoma Sales Tax Code to provide funds for the financing of
the program provided for by the Oklahoma Social Security Act and to
provide revenues for the support of the functions of the state
government of Oklahoma, and for this purpose it is hereby expressly
provided that, revenues derived pursuant to the provisions of the
Oklahoma Sales Tax Code, subject to the apportionment requirements
for the Oklahoma Tax Commission and Office of Management and
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Enterprise Services Joint Computer Enhancement Fund provided by
Section 265 of this title, shall be apportioned as follows:
1. Except as provided in subsection subsections C and D of this
section, the following amounts shall be paid to the State Treasurer
to be placed to the credit of the General Revenue Fund to be paid
out pursuant to direct appropriation by the Legislature:
Fiscal Year Amount
FY 2003 and FY 2004 86.04%
FY 2005 85.83%
FY 2006 85.54%
FY 2007 85.04%
FY 2008 through FY 2022 83.61%
FY 2023 through FY 2027 83.36%
FY 2028 and each fiscal year thereafter 83.61%;
2. The following amounts shall be paid to the State Treasurer
to be placed to the credit of the Education Reform Revolving Fund of
the State Department of Education:
a. for FY 2003, FY 2004 and FY 2005, ten and forty -two
one-hundredths percent (10.42%),
b. for FY 2006 through FY 2020, ten and forty -six one-
hundredths percent (10.46 %),
c. for FY 2021:
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(1) for the month beginning July 1, 2020, throug h the
month ending August 31, 2020, ten and forty -six
one-hundredths percent (10.46%), and
(2) for the month beginning September 1, 2020,
through the month ending June 30, 2021, eleven
and ninety-six one-hundredths percent (11.96%),
and
d. for FY 2022 and each fiscal year thereafter, ten and
forty-six one-hundredths percent (10.46%);
3. The following amounts shall be paid to the State Treasurer
to be placed to the credit of the Teachers ’ Retirement System
Dedicated Revenue Revolving Fund:
Fiscal Year Amount
FY 2003 and FY 2004 3.54%
FY 2005 3.75%
FY 2006 4.0%
FY 2007 4.5%
FY 2008 through FY 2020 5.0%
FY 2021:
a. for the month beginning July
1, 2020, through the month
ending August 31, 2020 5.0%
b. for the month beginning
September 1, 2020, through
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the month ending June 30,
2021 3.5%
FY 2022 5.0%
FY 2023 through FY 2027 5.25%
FY 2028 and each fiscal year thereafter 5.0%;
4. a. except Except as otherwise provided in subparagraph b
of this paragraph, for the fiscal year beginning July
1, 2022, and for each fisc al year thereafter, eighty -
seven one-hundredths percent (0.87%) shall be paid to
the State Treasurer to be further apportioned as
follows:
(1) twenty-four percent (24%) shall be placed to the
credit of the Oklahoma Tourism Promotion
Revolving Fund, but in no event shall such
apportionment exceed Five Million Dollars
($5,000,000.00) in any fiscal year,
(2) forty-four percent (44%) shall be placed to the
credit of the Oklahoma Tourism Capital
Improvement Revolving Fund, but in no event shall
such apportionment exceed Nine Million Dollars
($9,000,000.00) in any fiscal year, and
(3) thirty-two percent (32%) shall be placed to the
credit of the Oklahoma Route 66 Commission
Revolving Fund, but in no event shall such
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apportionment exceed Six Million Six Hund red
Thousand Dollars ($6,600,000.00) in any fiscal
year, and
b. any Any amounts which exceed the limitations of
subparagraph a of this paragraph shall be placed to
the credit of the General Reven ue Fund; and
5. For the fiscal year beginning July 1, 2015, and for each
fiscal year thereafter, six one -hundredths percent (0.06%) shall be
placed to the credit of the Oklahoma Historical Society Capital
Improvement and Operations Revolving Fund, but in no event shall
such apportionment exceed the total amount app ortioned pursuant to
this paragraph for the fiscal year ending on June 30, 2015. Any
amounts which exceed the limitations of this paragraph shall be
placed to the credit of the General Revenue F und.
B. Provided, for the fiscal year beginning July 1, 2007, and
every fiscal year thereafter, an amount of revenue shall be
apportioned to each municipality or county which levies a sales tax
subject to the provisions of Section 1357.10 of this title an d
subsection F of Section 2701 of this title equal to the amo unt of
sales tax revenue of such municipality or county exempted by the
provisions of Section 1357.10 of this title and subsection F of
Section 2701 of this title. The Oklahoma Tax Commission sh all
promulgate and adopt rules necessary to implement the provisions of
this subsection.
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C. From the monies that would otherwise be apportioned to the
General Revenue Fund pursuant to subsection A of this section, there
shall be apportioned the following amounts:
1. For the month ending August 31, 2019:
a. Nine Million Six Hundred Thousand Dollars
($9,600,000.00) to the credit of the State Highway
Construction and Maintenance Fund created in Section
1501 of Title 69 of the Oklahoma Statutes, and
b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 309 of Title 66 of the Oklahoma
Statutes;
2. For the month ending September 30, 2019:
a. Twenty Million Dollars ($20,000,000.00) to the cred it
of the State Highway Construction and Maintenance Fund
created in Section 1501 of Title 69 of the Oklahoma
Statutes, and
b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 309 of T itle 66 of the Oklahoma
Statutes;
3. For the month ending October 3 1, 2019:
a. Twenty Million Dollars ($20,000,000.00) to the credit
of the State Highway Construction and Maintenance Fund
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created in Section 1501 of Title 69 of the Oklahoma
Statutes, and
b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 309 of Title 66 of the Oklahoma
Statutes;
4. For the month ending November 30, 2019:
a. Twenty Million Dollars ($20,000,000.00) to t he credit
of the State Highway Construction and Maintenance Fund
created in Section 1501 of Title 69 of the Oklahoma
Statutes, and
b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 3 09 of Title 66 of the Oklahoma
Statutes; and
5. For the month ending December 31, 2019:
a. Twenty Million Dollars ($20,000,000.00) to the credit
of the State Highway Construction and Maintenance Fund
created in Section 1501 of Title 69 of the Oklahoma
Statutes, and
b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 309 of Title 66 of the Oklahoma
Statutes.
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D. For fiscal year 2029 and subsequent fiscal years, before any
other apportionment otherwise required by this section is made to
the General Revenue Fund, there shall be apportioned to the Oklahoma
Long-Range Capital Planning Legacy Fund created pursuant to Section
1 of this act the amount of Fifty Million Dollars ($50,000,000.00).
SECTION 9. There is hereby appropriated to the Off ice of the
State Treasurer for deposit in the Oklahoma Long -Range Capital
Planning Legacy Fund, from any monies not otherwise appropriated
from the General Revenue Fund of the State Treasu ry for the fiscal
year ending June 30, 2023, the sum of Five Hundred Million Dollars
($500,000,000.00).
SECTION 10. This act shall become effective July 1, 2024.
SECTION 11. It being immediately necessary for the preservatio n
of the public peace, health or safety, an emergency is hereby
declared to exist, by reason whereof this act shall take effect and
be in full force from and after its passage and approval.
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Passed the Senate the 11th day of March, 2024.
Presiding Officer of the Senate
Passed the House of Representatives the _ ___ day of __________,
2024.
Presiding Officer of the House
of Representatives