SB 1631 Summary

• Requires all payments from the State Treasury to be made through electronic payment mechanisms, with limited exemptions approved by the State Treasurer that must be documented in a public report.

• Authorizes the Oklahoma Tax Commission to use direct deposit and card-based disbursement systems for individual income tax refunds as an alternative to checks or warrants.

• Allows taxpayers to elect to receive refunds through methods other than card-based disbursement systems, with notice of this election right required on tax return forms.

• Permits the Tax Commission to contract with qualified entities to implement card-based refund systems while restricting the sharing of full social security numbers with contractors.

• Makes the act effective November 1, 2014.