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OK SB897

Bill

Official Source

Status

Passed

5/14/2025

Primary Sponsor

Micheal Bergstrom

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Extends the termination date of the Corporation Commission Plugging Fund from July 1, 2026 to July 1, 2031

  • Maintains the $5,000,000 minimum balance requirement for the plugging fund through the extended date

  • Continues the mechanism allowing the Corporation Commission to trigger an excise tax on oil and gas if the fund falls below the $5 million maintenance level

  • Effective date is November 1, 2025

Legislative Description

Corporation Commission; modifying termination date of Plugging Fund. Effective date.

Last Action

Becomes law without Governor's signature 05/14/2025

5/14/2025

Committee Referrals

Administrative Rules4/1/2025
Revenue and Taxation2/13/2025
Administrative Rules2/4/2025

Full Bill Text

No bill text available