HB2365 Summary

• Imposes an additional excise tax of 75 mills per cigarette, with revenues apportioned to seven newly created health-related funds (Health Care Authority, Mental Health and Substance Abuse Services, Human Services, University Hospitals, Oklahoma State University Medical Authority, Health Department, and general Health Care Enhancement Fund).

• Establishes a 6-cent per gallon tax on gasoline and diesel fuel, with revenues deposited into the Rebuilding Oklahoma Access and Driver Safety Fund after fulfilling motor fuels tax requirements.

• Limits cigarette excise tax stamp sales to wholesalers to monthly average amounts from the preceding year, with exceptions for documented increased sales projections.

• Modifies gross production tax exemptions and deadlines for oil and gas wells by ending several existing exemptions on September 1, 2017, and establishing new claim filing deadlines (December 1, 2017 for certain exemptions).

• Clarifies economically at-risk lease refund limitations for 2015-2016 production and establishes an $8.3 million maximum for refunds during the pre-September 1, 2017 period in calendar year 2017.