SB 1971 Summary

• Amends the Tobacco Settlement Fund (62 O.S. 2011, Section 50) to clarify apportionment of tobacco settlement monies received by the state, establishing that funds not otherwise apportioned under the Oklahoma Constitution shall be divided 75% to the Tobacco Settlement Fund and 25% to the Attorney General's Evidence Fund.

• Modifies 74 O.S. 2011, Section 19 to specify that the 25% allocation to the Attorney General applies only to certain collected monies and explicitly excludes tobacco settlement proceeds from the standard revenue-sharing formula.

• Establishes that tobacco settlement monies are handled separately from other Attorney General collections, with the Attorney General's share (25%) directed to the Evidence Fund rather than the Revolving Fund.

• Takes effect July 1, 2012, with an emergency clause allowing immediate implementation upon passage and approval.