OK HB1116

Amends 68 O.S. 2001, Section 1353, clarifying that sales tax revenue apportionments are subject to requirements of Section 265 of the sales tax title (rather than referring to "Section 6" of "the act")

Maintains existing fiscal year percentages for apportioning sales tax revenue to the General Revenue Fund, ranging from 83.61% to 86.04% depending on the fiscal year

Preserves allocations to Education Reform Revolving Fund (10.42%-10.46%) and Teachers' Retirement System Dedicated Revenue Revolving Fund (3.54%-5.0%) based on fiscal year

Continues allocation of 0.93% of sales tax revenue for fiscal years 2007 and beyond to tourism promotion and capital improvement funds (36% and 64% split respectively)

Effective date: November 1, 2009