Oklahoma 2025 Regular Session

Oklahoma House Bill HB2177 Compare Versions

Only one version of the bill is available at this time.

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28	28	STATE OF OKLAHOMA
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30	30	1st Session of the 60th Legislature (2025)
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32	32	HOUSE BILL 2177 By: Pfeiffer
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38	38	AS INTRODUCED
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40	40	An Act relating to public finance; amending 62 O.S.
41	41	2021, Section 34.2, which relates to revenue
42	42	information; modifying provisions related to
43	43	information provided by certain state government
44	44	entities; modifying provisions related to information
45	45	provided to the State Board of Equalization;
46	46	providing an effective date; and declaring an
47	47	emergency.
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52	52	BE IT ENACTED BY THE PEOPLE OF TH E STATE OF OKLAHOMA:
53	53	SECTION 1. AMENDATORY 62 O.S. 2 021, Section 34.2, is
54	54	amended to read as follows:
55	55	Section 34.2. A. Agencies responsible for the collection of
56	56	monies deposited to the credit of the General Revenue Fund and eac h
57	57	of the Special Revenue Funds shall be subject to the provisions of
58	58	this act. Upon request of the Director of the Office of Management
59	59	and Enterprise Services, these agencies shall provide the Director
60	60	of the Office of Management and Enterprise Services an itemized
61	61	estimate of funds expected to accrue to the General Revenue Fund a nd
62	62	each of the Special Revenue Funds for the ensuing fiscal year in the
63	63	manner and form established by the Director, in accordance with the
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90	90	duties assigned to the State Board of Equalization in Section 23 of
91	91	Article X of the Oklahoma Constitution. Each of these agencies
92	92	shall also provide to the Director, as requested, a written
93	93	explanation of the methodology and relevant assumptions used in
94	94	developing the current and future reve nue estimates submitted, a
95	95	statement of:
96	96	1. The prior year's actual revenue collections;
97	97	2. A projection of the current year 's revenue collections; and
98	98	3. Estimated revenue collections for the ensuing fiscal year
99	99	and the following two (2) fiscal years . No expenditure shall be
100	100	made from any General Revenue Fund or Special Revenue Fund until
101	101	such fund has been assigned to an agency by law or by the Director
102	102	of the Office of Management and Enterprise Services.
103	103	B. In addition to providing the information l isted above, the
104	104	Oklahoma Tax Commission shall also provide to the Director of the
105	105	Office of Management and Enterprise Services a comprehensive
106	106	economic report no later than two (2) weeks prior to each of the
107	107	meetings of the State Board of Equalization pur suant to paragraphs 1
108	108	and 3 of Section 23 of Article X of the Constitution of the State of
109	109	Oklahoma. Each report shall include a summary of recent national
110	110	and state economic performance and a forecast of national and state
111	111	economic performance for the cu rrent fiscal year, and the ensuing
112	112	fiscal year and the following two (2) fisca l years. These reports
113	113	shall be considered a basis upon which the itemized revenue
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140	140	estimates of the Commission are developed. The report shall include
141	141	an analysis of the relati ve accuracy of the economic forecasts on
142	142	which the previous and current fiscal years ' revenue estimates were
143	143	based.
144	144	C. The Tax Commission shall also provide all estimates,
145	145	explanations, statements, projections, reports and other documents
146	146	required by this section to the President Pro Tempore of the Senate,
147	147	members of the Senate App ropriations and Finance Committees, the
148	148	Speaker of the House of Representatives and members of the House
149	149	Appropriations and Budget Committee at the same time that such
150	150	documents are provided to the Director of the Office of Management
151	151	and Enterprise Services.
152	152	SECTION 2. This act shall become effective July 1, 2025.
153	153	SECTION 3. It being immediately necessary for the preservation
154	154	of the public peace, health or safety, an emergency is hereby
155	155	declared to exist, by reason whereof this act shall take effect and
156	156	be in full force from and after its passage and approval.
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158	158	60-1-11054 MAH 01/04/25