SB 1436 Summary

• Establishes "The Oklahoma Multi-year Revenue and Expenditure Projection Act" requiring agencies to provide revenue estimates covering the prior year, current year, and following two (2) fiscal years instead of only the ensuing year.

• Requires Oklahoma Tax Commission to include economic forecasts for the current fiscal year and following two (2) fiscal years in comprehensive reports to the Office of Management and Enterprise Services and legislative committees.

• Mandates appropriated state agencies submit itemized estimates of needs and revenue projections for the ensuing fiscal year and following two (2) fiscal years, plus itemized listings of outstanding capital lease debt and estimated capital lease needs.

• Requires the Office of Management and Enterprise Services to publish a multi-year trend analysis by November 1 each year covering the current fiscal year, ensuing fiscal year, and following two (2) fiscal years, and distribute it to legislative leadership and appropriations committees.

• Declares an emergency effective date for the bill upon passage and approval.