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OK SB1256
Bill
AI Summary
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Creates the "Securing Teacher Compensation Fund" in the State Treasury to increase salaries of full-time certified teachers in Oklahoma
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Funds the account by redirecting increases in General Revenue Fund revenues (comparing February estimates to current estimates) until the fund reaches $200 million, after which $200 million annually is apportioned from income tax revenues
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Prohibits fund monies from supplanting or replacing existing state education funding, with the State Board of Equalization required to investigate and report each February on compliance
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Requires the Legislature to replenish any supplanted education funding before making other appropriations if violations are found
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Reduces fund apportionments proportionally during declared General Revenue Fund revenue failures, matching the percentage cuts applied to state agency allocations
Legislative Description
Teacher compensation; creating the Securing Teacher Compensation Fund; providing for apportionment of revenue. Effective date.
Last Action
Second Reading referred to Education Committee then to Appropriations Committee
2/2/2016