OK SB795

Modifies apportionment of sales, use, and income tax revenues to the Teachers' Retirement System Dedicated Revenue Revolving Fund from FY 2009 through FY 2016 and thereafter.

Increases allocations to Teachers' Retirement System from 5.0% (FY 2008) to 6.0% (FY 2016 and thereafter) under the sales tax code, rising incrementally by year.

Adjusts General Revenue Fund allocations downward correspondingly, decreasing from 83.61% (FY 2008) to 82.61% (FY 2016 and thereafter).

Makes parallel percentage changes to income tax revenue distributions under the use tax and income tax codes with the same escalating schedule through FY 2016.

Effective date of July 1, 2012, with specific revenue percentages and floor protections established through Section 2355.1B baseline provisions.