SJR 9 Summary

• Submits a proposed amendment to Section 23 of Article X of the Oklahoma Constitution to voters for approval, modifying how the legislature calculates limits on annual appropriations.

• Changes the appropriations growth limit to the lesser of: (a) prior year total appropriations plus 12% adjusted for inflation, or (b) the combined rate of inflation plus the state's population growth percentage.

• Establishes that the State Board of Equalization certifies 95% of estimated revenues available for appropriation 35-45 days before each legislative session, with federal funds certified at full estimated amount.

• Creates a Constitutional Reserve Fund to hold surplus revenues until reaching 15% of the General Revenue Fund certification, with provisions allowing appropriations from the reserve fund under specified conditions including revenue failures and emergency declarations.

• Includes manufacturing retention incentive provisions allowing up to $10 million annually from the reserve fund when balance exceeds $80 million, subject to unanimous approval by the Governor, House Speaker, and Senate President Pro Tempore.