OK HB2375

Amends Section 139 of Enrolled Senate Bill No. 1561 to reduce the State Board of Education appropriation from $1,074,330,495.00 to $1,065,830,495.00 for fiscal year ending June 30, 2011, a reduction of $8,500,000.

Appropriates $8,500,000 from the General Revenue Fund to the Oklahoma Tax Commission for deposit in the Ad Valorem Reimbursement Fund to reimburse counties for school districts experiencing revenue loss due to tax exemptions for new or expanded manufacturing or research and development facilities.

Becomes effective July 1, 2010, with an emergency clause declaring the act effective immediately upon passage and approval.