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OK HB1875

Bill

Official Source

Status

Engrossed

3/11/2013

Primary Sponsor

Clark Jolley

Click for details

Origin

House of Representatives

2013 Regular Session

AI Summary

  • Reduces the General Revenue Fund's share of state sales tax revenue from 83.61% to 83.21% beginning FY 2014, with the 0.4% difference allocated to the Oklahoma Tax Commission for enhanced sales tax enforcement
  • Cuts the collection fee charged to counties for state sales tax collection services from 1% to 0.5% of gross proceeds
  • Reduces the retention fee charged to municipalities for sales tax collection services from 1.75% to 0.5% of collections
  • Requires municipalities levying sales tax to receive state reimbursement equal to the amount of sales tax revenue exempted under certain provisions beginning FY 2007
  • Maintains existing apportionments for Education Reform Revolving Fund (10.46%), Teachers' Retirement System (5%), tourism funds (0.87%), and Oklahoma Historical Society (0.06%)

Legislative Description

Revenue and taxation; sales and use tax; apportionment; General Revenue Fund; municipalities and counties.

Revenue and Taxation

Last Action

Coauthored by Senator(s) Sharp

5/21/2013

Committee Referrals

Finance3/19/2013
Appropriations and Budget2/5/2013

Full Bill Text

No bill text available