ENGR. S.J.R. NO. 29 Summary

• Proposes amendment to Section 23 of Article X of the Oklahoma Constitution to shift State Board of Equalization meetings from 35-45 days prior to regular legislative sessions (with February adjustment) to October and December prior to each regular session.

• Maintains balanced budget procedures requiring the Board to certify total revenues accrued during the preceding fiscal year and amounts available for appropriation based on 95% of estimated revenues (100% for federal funds).

• Limits legislative appropriations to amounts not exceeding prior year appropriations plus 12% adjusted for inflation, with exceptions for special appropriations from the Constitutional Reserve Fund.

• Establishes Constitutional Reserve Fund procedures allowing surplus revenues to accumulate until reaching 15% of General Revenue Fund certification, with defined uses for manufacturing incentives, revenue failures, and emergency conditions.

• Directs Secretary of State to refer the amendment to voters with ballot title explaining the change in Board meeting dates from current law to October and December meetings.