OK SB1566

Amends Section 7, Chapter 421, O.S.L. 2009 to reduce the appropriation to the State Board of Education for textbook purchases from $33,000,000 to $17,000,000 for fiscal year ending June 30, 2008.

Appropriates $16,000,000 to the State Board of Education from the General Revenue Fund for fiscal year ending June 30, 2008, to be transferred to the Oklahoma Tax Commission.

Directs the transferred $16,000,000 to be deposited in the Ad Valorem Reimbursement Fund to reimburse counties for school districts experiencing revenue losses due to tax exemptions for new or expanded manufacturing or research and development facilities.

Passed the Senate on May 25, 2010 and the House of Representatives on May 26, 2010.