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OK SB1390
Bill
AI Summary
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Extends the sunset date from June 30, 2027 to June 30, 2032 for apportioning gross production tax revenues to three infrastructure funds: Oklahoma Tourism and Recreation Department Capital Expenditure Revolving Fund, Oklahoma Conservation Commission Infrastructure Revolving Fund, and Community Water Infrastructure Development Revolving Fund
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Beginning July 1, 2032 (instead of July 1, 2027), those revenues will shift to the Oklahoma Water Resources Board Rural Economic Action Plan Water Projects Fund
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Creates the Preserving and Advancing County Transportation Fund to receive 40% of the 5% gross production tax on natural gas beginning July 1, 2025, capped at $75 million per fiscal year with excess going to the General Revenue Fund
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Maintains the $150 million annual cap on total deposits to seven designated revolving funds from oil gross production tax revenues, with excess amounts going to the General Revenue Fund
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Effective date: November 1, 2026
Legislative Description
Gross production tax; modifying apportionment of collections for certain fiscal years; modifying apportionment limit. Effective date.
Last Action
Placed on General Order
3/9/2026