OK SB1328

Requires Oklahoma Tax Commission to provide written revenue estimates and recommendations to State Board of Equalization within two weeks of legislative request regarding proposed tax law changes.

Authorizes Tax Commission to develop dynamic revenue estimating model considering economic activity impacts, effective December 31, 2009, and allows contracting with universities or other entities to perform estimating duties.

Establishes contingent sales tax exemption on eligible food and beverages (as defined in Streamlined Sales Tax Agreement) to become effective when General Revenue Fund growth equals or exceeds 110% of estimated revenue loss from the exemption.

Requires State Board of Equalization to annually determine revenue growth and estimated sales tax revenue reduction, with exemption implementation authorized on July 1 following the year the growth threshold is met.

Amends sales tax apportionment provisions and adds new exemptions applicable to state, municipal, county and authority sales taxes once the contingency conditions are satisfied; effective November 1, 2010.