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OK HB1184
Bill
Status
2/7/2011
Primary Sponsor
Scott Martin
Click for details
AI Summary
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Amends Section 2355.1B of Title 68 (Oklahoma Statutes) to clarify statutory language by replacing references to "Title 68 of the Oklahoma Statutes" with "this title" throughout the section
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Relates to the State Board of Equalization's duties regarding income tax rate reductions and apportionment of revenues to the Teachers' Retirement System Dedicated Revenue Revolving Fund
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Maintains existing requirements for the Board to determine baseline amounts of revenue apportioned to the Teachers' Retirement System from income tax, sales tax, and use tax sources
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Preserves the five-year review process for adjusting baseline amounts when the initial baseline is less than the five-year average annual amount
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Effective date of November 1, 2011
Legislative Description
Revenue and taxation; revenue apportionment; clarifying language; effective date.
Revenue and Taxation
Last Action
Second Reading referred to Appropriations and Budget
2/8/2011