OK SB855

Amends the apportionment of motor vehicle taxes, fees, and penalties collected under Oklahoma's Vehicle License and Registration Act to be distributed monthly by the Oklahoma Tax Commission.

Deletes the provision requiring allocation of the first $100,000 annually from motorcycle and moped registration fees to the Oklahoma Tax Commission Revolving Fund (previously required for fiscal year beginning July 1, 2003).

Maintains existing percentage allocations to school districts (36.20%), General Revenue Fund (24.84% as of July 1, 2014), counties, cities, towns, transportation funds, and law enforcement retirement funds.

Preserves minimum allocation protections requiring that funds apportioned to counties, school districts, cities, and towns shall not be less than amounts apportioned in the previous fiscal year.

Becomes effective November 1, 2015.