Senate Joint Resolution 57 Summary

• Proposes amendment to Section 23, Article X of Oklahoma Constitution to modify limits on legislative appropriations for each fiscal year

• Changes appropriation limit calculation from a fixed formula to the lesser of two amounts: (a) prior year appropriations plus 12% adjusted for inflation, or (b) sum of inflation rate plus population growth rate for the previous calendar year

• Authorizes State Board of Equalization to certify revenue amounts available for appropriation and requires Legislature to remain within certified limits

• Maintains Constitutional Reserve Fund with special appropriation provisions for revenue shortfalls, emergency conditions, and manufacturing retention incentives when fund balance exceeds $80 million

• Directs Secretary of State to submit proposed amendment to voters with specified ballot title asking approval of the appropriations limit changes