Senate Bill 854 Summary

• Amends Oklahoma's motor vehicle tax and fee apportionment schedule effective November 1, 2015, updating how the Oklahoma Tax Commission distributes collected revenue among state funds and local entities.

• Reduces General Revenue Fund allocation from 26.84% (FY 2013-2014) to 24.84% (FY 2014 and subsequent years), with additional monies needed deducted from this fund.

• Increases County Improvements for Roads and Bridges Fund allocation from 18% to 20% beginning July 1, 2014, and all subsequent years.

• Maintains apportionment percentages for school districts (36.20%), counties, municipalities, State Transportation Fund (0.31%), Law Enforcement Retirement Fund (1.24%), and Wildlife Conservation Fund (3/100 of 1%).

• Includes floor requirements preventing apportionments to school districts, counties, county special revenue funds, county bridge funds, cities, and municipalities from falling below previous fiscal year amounts.