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OK SJR69
Joint Resolution
Status
2/1/2010
Primary Sponsor
Cliff Branan
Click for details
AI Summary
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Increases the maximum cap for Oklahoma's Constitutional Reserve Fund (Rainy Day Fund) from 10% to 15% of the General Revenue Fund certification from the preceding fiscal year
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Removes obsolete language referencing the July 1, 1985 start date for depositing surplus funds into the Constitutional Reserve Fund
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Changes gubernatorial authority regarding deficiency certificates from discretionary ("may in his discretion") to mandatory ("shall have discretion to"), clarifying the Governor's power to issue certificates up to $500,000 per fiscal year for state departments experiencing shortfalls
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Requires the proposed constitutional amendment to be submitted to Oklahoma voters for approval or rejection through a ballot referendum
Legislative Description
Constitutional amendment; increasing maximum amount in Constitutional Reserve Fund.
Revenue and Taxation
Last Action
Second Reading referred to Appropriations
2/2/2010