SB 981 Summary

• Modifies the apportionment of motor vehicle registration fees and taxes collected under 47 O.S. Section 1104 to adjust distribution percentages among school districts, General Revenue Fund, counties, and municipalities.

• Reduces the General Revenue Fund allocation from 29.34% (effective January 1, 2013) to 24.94% for fiscal year 2013-2014, and further to 22.94% beginning July 1, 2014.

• Increases the allocation to cities and incorporated towns from 3.10% to 5.00% beginning July 1, 2013, and maintains increased funding to the County Improvements for Roads and Bridges Fund.

• Maintains existing protections ensuring allocations to school districts, counties, cities, and other recipients do not fall below previous fiscal year amounts.

• Becomes effective July 1, 2013, with emergency provisions declared to take effect immediately upon passage and approval.