OK SB1421

Establishes "The Oklahoma Multi-year Revenue and Expenditure Projection Act" requiring state agencies to extend revenue and budget projections from one year to three years (ensuing fiscal year plus two additional years)

Requires agencies collecting General Revenue Fund and Special Revenue Fund monies to provide estimated revenue collections for three fiscal years, along with methodology explanations and assumptions used in developing projections

Mandates the Oklahoma Tax Commission include economic forecasts covering three fiscal years in reports to the Office of Management and Enterprise Services, due two weeks before State Board of Equalization meetings

Expands distribution of Tax Commission reports and multi-year trend analysis to include members of the Senate Appropriations and Finance Committees and House Appropriations and Budget Committee, in addition to legislative leadership

Requires appropriated agencies to submit three-year estimates of needs, expected revenues, and capital lease requirements by October 1, with the Office of Management and Enterprise Services publishing a multi-year budget trend analysis by November 1