OK SJR52

Proposes amendment to Section 23 of Article X of the Oklahoma Constitution to create a Gross Production Tax Reserve Fund and limit annual increases in appropriations from gross production tax revenues to 12 percent.

Requires the State Board of Equalization to separately certify revenue amounts attributable to gross production taxes and place any excess amounts above the 12 percent annual growth limit into the Gross Production Tax Reserve Fund.

Permits appropriations from the Gross Production Tax Reserve Fund only when certified gross production tax revenue available for appropriation falls below the amount certified for any of the three preceding fiscal years.

Specifies that amounts authorized for withdrawal from the reserve fund equal the lesser of the fund's balance or the difference between the next fiscal year's available amount and the average of the prior three fiscal years' amounts.

Directs the President Pro Tempore of the Senate to file the resolution with the Secretary of State and Attorney General for submission to voters as a constitutional referendum.