SB 1959 Summary

• Amends 68 O.S. 2011, Section 1004 to modify apportionment of gross production tax revenues collected on oil, natural gas, asphalt, and mineral ores.

• Caps total annual deposits to education and infrastructure revolving funds (Common Education Technology, Higher Education Capital, Oklahoma Tuition Scholarship, and Rural Water Projects funds) at $150,000,000, with excess revenues directed to the General Revenue Fund.

• For fiscal year ending June 30, 2012, allocates excess revenues exceeding the $150,000,000 cap to: $37.6 million for certified employee health benefits; $14.8 million for teacher bonuses and certifications; $5 million for Department of Public Safety Patrol Academy; $1 million for Medical Examiner fund; and $34.1 million to the State Emergency Fund.

• Declares an emergency effective upon passage and approval.