HB 2243 Summary

• Changes the effective date for sales and use tax apportionment provisions from July 1, 2010 to July 1, 2015 for the Oklahoma Tourism Promotion Revolving Fund and Oklahoma Tourism Capital Improvement Revolving Fund.

• Establishes caps on apportionments: Oklahoma Tourism Promotion Fund capped at $5,000,000 annually and Oklahoma Tourism Capital Improvement Fund capped at $9,000,000 annually, with any excess amounts redirected to the General Revenue Fund.

• Modifies the Oklahoma Historical Society Capital Improvement and Operations Revolving Fund apportionment (0.06%) to not exceed the total amount apportioned in fiscal year ending June 30, 2015, with excess amounts going to the General Revenue Fund.

• Declares an emergency, allowing the act to take effect immediately upon passage and approval in addition to the July 1, 2015 effective date for the substantive provisions.

• Amends 68 O.S. 2011, Sections 1353 and 1403 relating to sales and use tax revenue distribution among state funds and programs.