OK SB824

Modifies Section 1003 to change how the Oklahoma Tax Commission handles unclaimed oil tax proceeds by removing the requirement to hold funds for 12 months and instead distributing them as gross production tax revenue after one year if no rightful owner claims them within 12 months of tax payment receipt.

Amends Section 1005 to make transportation and reporting requirements contingent on request by the Oklahoma Tax Commission rather than mandatory duties for railroads, pipeline companies, refineries, and oil storage operators.

Clarifies that "actual source" means the specific well or wells and leasehold from which oil was produced.

Maintains the 12.5% fee requirement for salt water disposal facility operators on oil recovered in excess of 2% of water volume handled.

Repeals Section 1016 of 68 O.S. 2011 and makes the act effective November 1, 2015.