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OK HB1744

Bill

Official Source

Status

Introduced

2/4/2013

Primary Sponsor

Harold Wright

Click for details

Origin

House of Representatives

2013 Regular Session

AI Summary

  • Amends 68 O.S. 2011, Section 2352 to modify the apportionment of Oklahoma income tax revenue beginning FY 2014
  • Increases the apportionment to the Ad Valorem Reimbursement Fund from 1% to 1.5% of income tax revenue from both individual and corporate income taxes
  • Reduces the General Revenue Fund apportionment from 85.66% to 85.16% for individual income tax revenue (subsections A, B, E of Section 2355)
  • Reduces the General Revenue Fund apportionment from 77.50% to 77.0% for corporate income tax revenue (subsections C, D of Section 2355)
  • Contains an emergency clause with an effective date of July 1, 2013

Legislative Description

Revenue and taxation; income tax revenues; apportionment; Ad Valorem Reimbursement Fund.

Revenue and Taxation

Last Action

Second Reading referred to Appropriations and Budget

2/5/2013

Committee Referrals

Appropriations and Budget2/5/2013

Full Bill Text

No bill text available