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OK SB1087

Bill

Status

Introduced

2/1/2016

Primary Sponsor

Roger Thompson

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Origin

Senate

2016 Regular Session

AI Summary

  • Establishes "The Oklahoma Multi-year Revenue and Expenditure Projection Act" to extend state budget forecasting from one year to three years

  • Requires agencies collecting General Revenue Fund and Special Revenue Fund monies to provide revenue estimates for the ensuing fiscal year plus the following two fiscal years

  • Mandates the Oklahoma Tax Commission to include economic forecasts and performance summaries for the current fiscal year, ensuing fiscal year, and the following two fiscal years in reports to the State Board of Equalization

  • Requires appropriated state agencies to submit itemized estimates of needs, expected revenues, and capital lease requirements covering three fiscal years instead of one, due October 1 each year

  • Expands distribution of budget documents to include members of Senate Appropriations and Finance Committees and House Appropriations and Budget Committee, in addition to legislative leadership

Legislative Description

Public finance; creating "The Oklahoma Multi-year Revenue and Expenditure Projection Act." Effective date.

Last Action

Second Reading referred to Appropriations

2/2/2016

Committee Referrals

Appropriations2/2/2016

Full Bill Text

No bill text available