Bill Text For HJR1001 - Engrossed

 1|ENGROSSED HOUSE                                                        |
  |JOINT                                                                  |
 2|RESOLUTION NO. 1001       By: Fugate, Baker, Bashore, Bell, Bennett,   |
  |                              Blancett, Boatman, Boles, Brewer,        |
 3|                              Burns, Bush, Caldwell (Chad), Caldwell   |
  |                              (Trey), Conley, Cornwell, Crosswhite     |
 4|                              Hader, Cruz, Culver, Davis, Dempsey,     |
  |                              Dills, Dobrinski, Dollens, Echols,       |
 5|                              Fetgatter, Ford, Frix, Gann, Goodwin,    |
  |                              Grego, Hardin (David), Hardin (Tommy),   |
 6|                              Hasenbeck, Hilbert, Hill, Humphrey,      |
  |                              Johns, Kannady, Kendrix, Kerbs,          |
 7|                              Lawson, Lepak, Lowe (Dick), Lowe         |
  |                              (Jason), Luttrell, Manger, Marti,        |
 8|                              Martinez, May, McBride, McCall,          |
  |                              McDugle, McEntire, Miller, Mize,         |
 9|                              Moore, Munson, Newton, Nichols,          |
  |                              Nollan, O'Donnell, Olsen, Osburn, Pae,   |
10|                              Patzkowsky, Pfeiffer, Phillips,          |
  |                              Pittman, Provenzano, Randleman,          |
11|                              Ranson, Roberts (Dustin), Roberts        |
  |                              (Eric), Roberts (Sean), Roe,             |
12|                              Rosecrants, Russ, Sims, Smith, Sneed,    |
  |                              Stark, Steagall, Stearman, Sterling,     |
13|                              Stinson, Strom, Talley, Townley,         |
  |                              Turner, Vancuren, Virgin, Waldron,       |
14|                              Walke, Wallace, West (Josh), West        |
  |                              (Kevin), West (Rick), West (Tammy),      |
15|                              Williams, Wolfley and Worthen of the     |
  |                              House                                    |
16|                                                                       |
  |                                         and                           |
17|                                                                       |
  |                                     Montgomery of the Senate          |
18|                                                                       |
  |                                                                       |
19|                                                                       |
  |                                                                       |
20|       A Joint Resolution directing the Secretary of State             |
  |       to refer to the people for their approval or                    |
21|       rejection a proposed amendment to Section 23 of                 |
  |       Article X of the Constitution of the State of                   |
22|       Oklahoma; modifying provisions related to maximum               |
  |       balance of the Constitutional Reserve Fund; providing           |
23|       for sources of revenue to be included or excluded               |
  |       from computation; providing ballot title; and                   |
24|       directing filing.                                               |
  |                                                                       |
arsid4461823 ENGR. H. J. R. NO. 1001                               Page 1
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 1|BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES AND THE SENATE OF THE   |
  |                                                                       |
 2|1ST SESSION OF THE 58TH OKLAHOMA LEGISLATURE:                          |
  |                                                                       |
 3|    SECTION 1.  The Secretary of State shall refer to the people for   |
  |                                                                       |
 4|their approval or rejection, as and in the manner provided by law,     |
  |                                                                       |
 5|the following proposed amendment to Section 23 of Article X of the     |
  |                                                                       |
 6|Constitution of the State of Oklahoma to read as follows:              |
  |                                                                       |
 7|    Section 23.  The state shall never create or authorize the         |
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 8|creation of any debt or obligation, or fund or pay any deficit,        |
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 9|against the state, or any department, institution or agency thereof,   |
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10|regardless of its form or the source of money from which it is to be   |
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11|paid, except as may be provided in this section and in Sections 24     |
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12|and 25 of Article X of the Constitution of the State of Oklahoma.      |
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13|    To ensure a balanced annual budget, pursuant to the limitations    |
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14|contained in the foregoing, procedures are herewith established as     |
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15|follows:                                                               |
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16|    1.  Not more than forty-five (45) days or less than thirty-five    |
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17|(35) days prior to the convening of each regular session of the        |
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18|Legislature, the State Board of Equalization shall certify the total   |
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19|amount of revenue which accrued during the last preceding fiscal       |
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20|year to the General Revenue Fund and to each Special Revenue Fund      |
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21|appropriated directly by the Legislature, and shall further certify    |
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22|amounts available for appropriation which shall be based on a          |
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23|determination, in accordance with the procedure hereinafter            |
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24|provided, of the revenues to be received by the state under the laws   |
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arsid4461823 ENGR. H. J. R. NO. 1001                               Page 2
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 1|in effect at the time such determination is made, for the next         |
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 2|ensuing fiscal year, showing separately the revenues to accrue to      |
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 3|the credit of each such fund of the state appropriated directly by     |
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 4|the Legislature.                                                       |
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 5|    Amounts certified as available for appropriation from each fund,   |
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 6|as hereinbefore provided, shall be ninety-five percent (95%) of an     |
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 7|itemized estimate made by the State Board of Equalization, which       |
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 8|shall include all sources of revenue to each fund for the next         |
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 9|ensuing fiscal year; provided, however, appropriated federal funds     |
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10|shall be certified for the full amount of the estimate.  Said          |
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11|estimate shall consider any increase or decline in revenues that       |
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12|would result from predictable changes in the economy.                  |
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13|    Legislative appropriations for any fiscal year, except for         |
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14|special appropriations provided for in paragraph 6, 7 or 8 shall be    |
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15|limited to a sum not to exceed the total amount appropriated from      |
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16|all funds in the preceding fiscal year, plus twelve percent (12%),     |
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17|adjusted for inflation for the previous calendar year.  Said limit     |
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18|shall be adjusted for funds not previously appropriated.  The limit    |
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19|on the growth of appropriations shall be certified to by the State     |
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20|Board of Equalization.                                                 |
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21|    2.  Such certification shall be filed with the Governor, the       |
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22|President and President Pro Tempore of the Senate, and the Speaker     |
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23|of the House of Representatives.  The Legislature shall not pass or    |
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24|enact any bill, act or measure making an appropriation of money for    |
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arsid4461823 ENGR. H. J. R. NO. 1001                               Page 3
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 1|any purpose until such certification is made and filed, unless the     |
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 2|State Board of Equalization has failed to file said certification at   |
  |                                                                       |
 3|the time of convening of said Legislature.  In such event, it shall    |
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 4|be the duty of the Legislature to make such certification pursuant     |
  |                                                                       |
 5|to the provisions of this section.  All appropriations made in         |
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 6|excess of such certification shall be null and void; provided,         |
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 7|however, that the Legislature may at any regular session or special    |
  |                                                                       |
 8|session, called for that purpose, enact laws to provide for            |
  |                                                                       |
 9|additional revenues or a reduction in revenues, other than ad          |
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10|valorem taxes, or transferring the existing revenues or                |
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11|unappropriated cash on hand from one fund to another, or making        |
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12|provisions for appropriating funds not previously appropriated         |
  |                                                                       |
13|directly by the Legislature.  Whereupon, it shall be the duty of the   |
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14|State Board of Equalization to make a determination of the revenues    |
  |                                                                       |
15|that will accrue under such laws and ninety-five percent (95%) of      |
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16|the amount of any increase or decrease resulting, for any reason,      |
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17|from such changes in laws shall be added to or deducted from the       |
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18|amount previously certified available for appropriation from each      |
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19|respective fund, as the case may be.  The State Board of               |
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20|Equalization shall file the amount of such adjusted certification,     |
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21|or additional certification for funds not previously appropriated      |
  |                                                                       |
22|directly by the Legislature, with the Governor, with the President     |
  |                                                                       |
23|and President Pro Tempore of the Senate, and the Speaker of the        |
  |                                                                       |
24|House of Representatives, and such adjusted amount shall be the        |
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arsid4461823 ENGR. H. J. R. NO. 1001                               Page 4
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 1|maximum amount which can be appropriated for all purposes from any     |
  |                                                                       |
 2|such fund for the fiscal year being certified.                         |
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 3|    3.  The State Board of Equalization shall meet within five (5)     |
  |                                                                       |
 4|days after the monthly apportionment in February of each year, and     |
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 5|at that time may adjust the certification, based upon the most         |
  |                                                                       |
 6|current information available, and determine the amount of funds       |
  |                                                                       |
 7|available for appropriation for that legislative session.  At said     |
  |                                                                       |
 8|meeting the Board shall determine the limit on the growth of           |
  |                                                                       |
 9|appropriations as provided for in this section.                        |
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10|    4.  Surplus funds or monies shall be any amount accruing to the    |
  |                                                                       |
11|General Revenue Fund of the State of Oklahoma over and above the       |
  |                                                                       |
12|itemized estimate made by the State Board of Equalization.             |
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13|    5.  All such surplus funds or monies shall be placed in a          |
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14|Constitutional Reserve Fund by the State Treasurer until such time     |
  |                                                                       |
15|that the amount of said Fund equals fifteen percent (15%) of the       |
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16|General Revenue Fund certification for the preceding fiscal year       |
  |                                                                       |
17|total state expenditures for the fiscal year ending on June 30         |
  |                                                                       |
18|immediately preceding the month of the succeeding fiscal year during   |
  |                                                                       |
19|which the surplus monies are deposited into the Constitutional         |
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20|Reserve Fund, such expenditures to be computed using expenditures      |
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21|from funds from which the Legislature appropriates money, inclusive    |
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22|of all federal funds, but exclusive of monies expended from            |
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23|revolving funds, exclusive of any expenditures from a fund from        |
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24|which public monies are derived from fees or other charges not         |
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arsid4461823 ENGR. H. J. R. NO. 1001                               Page 5
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 1|consisting of tax revenues, and exclusive of the proceeds from any     |
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 2|general obligation bond or other evidence of indebtedness issued by    |
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 3|a state governmental entity and which is repaid in whole or in part    |
  |                                                                       |
 4|using executive branch agency appropriations or appropriations to      |
  |                                                                       |
 5|The Oklahoma State System of Higher Education.  Appropriations made    |
  |                                                                       |
 6|from said Fund shall be considered special appropriations.             |
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 7|    6.   a.   Up to three-eighths (3/8) of the balance at the          |
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 8|              beginning of the current fiscal year in the              |
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 9|              Constitutional Reserve Fund may be appropriated for      |
  |                                                                       |
10|              the forthcoming fiscal year, when the certification by   |
  |                                                                       |
11|              the State Board of Equalization for said forthcoming     |
  |                                                                       |
12|              fiscal year General Revenue Fund is less than that of    |
  |                                                                       |
13|              the current fiscal year certification.  In no event      |
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14|              shall the amount of monies appropriated from the         |
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15|              Constitutional Reserve Fund be in excess of the          |
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16|              difference between the two said certifications.          |
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17|         b.   (1)  In years when the provisions of subparagraph a of   |
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18|                   this paragraph are not applicable and the balance   |
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19|                   at the beginning of the current fiscal year in      |
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20|                   the Constitutional Reserve Fund is equal to or      |
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21|                   greater than Eighty Million Dollars                 |
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22|                   ($80,000,000.00), up to Ten Million Dollars         |
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23|                   ($10,000,000.00) may be expended for the purpose    |
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24|                   of providing incentives to support retention of     |
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arsid4461823 ENGR. H. J. R. NO. 1001                               Page 6
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 1|                   at-risk manufacturing establishments in this        |
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 2|                   state in order to retain employment for residents   |
  |                                                                       |
 3|                   of this state.  Such incentives shall be paid by    |
  |                                                                       |
 4|                   the Oklahoma Tax Commission upon a unanimous        |
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 5|                   finding by the Governor, the Speaker of the House   |
  |                                                                       |
 6|                   of Representatives and the President Pro Tempore    |
  |                                                                       |
 7|                   of the Senate that:                                 |
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 8|                   (a)  such incentives have been recommended by an    |
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 9|                        independent committee created by the           |
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10|                        Legislature for such purposes as provided      |
  |                                                                       |
11|                        herein pursuant to criteria set out by law,    |
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12|                   (b)  the incentive will result in a substantial     |
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13|                        benefit to this state, and                     |
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14|                   (c)  payment of the incentive would be in           |
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15|                        accordance with the provisions of this         |
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16|                        subparagraph and laws enacted to implement     |
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17|                        provisions of this subparagraph.               |
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18|              (2)  The independent committee will be composed of not   |
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19|                   less than seven (7) people appointed or otherwise   |
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20|                   determined pursuant to laws enacted by the          |
  |                                                                       |
21|                   Legislature providing for membership on the         |
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22|                   committee.  The committee shall make                |
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23|                   recommendations to the Governor, the Speaker of     |
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24|                   the House of Representatives and the President      |
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arsid4461823 ENGR. H. J. R. NO. 1001                               Page 7
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 1|                   Pro Tempore of the Senate for the awarding of       |
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 2|                   incentives.  Such recommendations shall give        |
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 3|                   priority to establishments which:                   |
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 4|                   (a)  are at greater risk of losing jobs because     |
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 5|                        the plant is no longer competitive or          |
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 6|                        leaving the state and thereby causing the      |
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 7|                        loss of more employment in this state than     |
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 8|                        other eligible recipients, and                 |
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 9|                   (b)  provide the largest economic impact to the     |
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10|                        state.                                         |
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11|              (3)  For any fiscal year, the incentives shall not       |
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12|                   exceed ten percent (10%) of the amount invested     |
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13|                   by an establishment in capital assets to be         |
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14|                   utilized in this state.  Incentives may only be     |
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15|                   paid pursuant to an investment contract between     |
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16|                   the establishment and a state agency designated     |
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17|                   by law, which provides for a specified amount of    |
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18|                   investment in a capital asset to be made by the     |
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19|                   establishment over a period of not to exceed five   |
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20|                   (5) years.  No incentive payment shall be made      |
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21|                   prior to the actual investment by the               |
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22|                   establishment.  The contract shall make payment     |
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23|                   of any incentives in any fiscal year contingent     |
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24|                   on the balance at the beginning of such fiscal      |
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arsid4461823 ENGR. H. J. R. NO. 1001                               Page 8
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 1|                   year in the Constitutional Reserve Fund being       |
  |                                                                       |
 2|                   equal to or greater than Eighty Million Dollars     |
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 3|                   ($80,000,000.00) and on the certification by the    |
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 4|                   State Board of Equalization for such fiscal year    |
  |                                                                       |
 5|                   of the amount available for appropriation from      |
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 6|                   the General Revenue Fund being greater than the     |
  |                                                                       |
 7|                   amount certified for the preceding fiscal year.     |
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 8|                   Investment contracts authorized by this             |
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 9|                   subparagraph shall provide that if any incentive    |
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10|                   payment is payable during a fiscal year in which    |
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11|                   either the balance at the beginning of the fiscal   |
  |                                                                       |
12|                   year in the Constitutional Reserve Fund is not      |
  |                                                                       |
13|                   equal to or greater than Eighty Million Dollars     |
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14|                   ($80,000,000.00) or when the certification by the   |
  |                                                                       |
15|                   State Board of Equalization for such fiscal year    |
  |                                                                       |
16|                   General Revenue Fund is less than that of the       |
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17|                   immediately prior fiscal year certification, then   |
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18|                   any incentive payments which would have been        |
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19|                   payable during such fiscal year shall be payable    |
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20|                   in the first fiscal year when funds are available   |
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21|                   pursuant to the provisions of division (1) of       |
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22|                   this subparagraph.  In the event that the amount    |
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23|                   of incentives payable under investment contracts    |
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24|                   authorized by this subparagraph is greater than     |
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arsid4461823 ENGR. H. J. R. NO. 1001                               Page 9
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 1|                   the amounts available for payment under this        |
  |                                                                       |
 2|                   subparagraph in a fiscal year, then no new          |
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 3|                   contracts may be authorized during such year and    |
  |                                                                       |
 4|                   incentive payments which are made shall be          |
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 5|                   reduced pro rata as necessary to apply all          |
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 6|                   available funds to incentive payments which are     |
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 7|                   payable in such year.                               |
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 8|              (4)  The Legislature is authorized to enact laws         |
  |                                                                       |
 9|                   necessary to implement the provisions of this       |
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10|                   section.                                            |
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11|    7.  Up to three-eighths (3/8) of the balance at the beginning of   |
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12|the current fiscal year in the Constitutional Reserve Fund may be      |
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13|appropriated for the current fiscal year if the State Board of         |
  |                                                                       |
14|Equalization determines that a revenue failure has occurred with       |
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15|respect to the General Revenue Fund of the State Treasury.  In no      |
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16|event shall the amount of monies appropriated from the                 |
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17|Constitutional Reserve Fund pursuant to this paragraph be in excess    |
  |                                                                       |
18|of the amount of the projected revenue failure in the General          |
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19|Revenue Fund, which total amount shall be computed by the State        |
  |                                                                       |
20|Board of Equalization, for the entire fiscal year.  Monies             |
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21|appropriated to any state governmental entity from the                 |
  |                                                                       |
22|Constitutional Reserve Fund pursuant to this paragraph may only be     |
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23|made in order to ensure that the monies actually received by the       |
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24|entity for the then current fiscal year are equal to or less than,     |
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arsid4461823 ENGR. H. J. R. NO. 1001                               Page 10
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 1|but not in excess of, the total appropriation amount for such entity   |
  |                                                                       |
 2|in effect at the beginning of the then current fiscal year.            |
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 3|    8.  Up to one-quarter (1/4) of the balance at the beginning of     |
  |                                                                       |
 4|the current fiscal year in the Constitutional Reserve Fund may be      |
  |                                                                       |
 5|appropriated, upon a declaration by the Governor that emergency        |
  |                                                                       |
 6|conditions exist, with concurrence of the Legislature by a             |
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 7|two-thirds (2/3) vote of the House of Representatives and Senate for   |
  |                                                                       |
 8|the appropriation; or said one-quarter (1/4) could be appropriated     |
  |                                                                       |
 9|upon a joint declaration of emergency conditions by the Speaker of     |
  |                                                                       |
10|the House of Representatives and the President Pro Tempore of the      |
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11|Senate, with a concurrence of a three-fourths (3/4) vote of the        |
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12|House of Representatives and Senate.                                   |
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13|    9.  That portion of every appropriation, at the end of each        |
  |                                                                       |
14|fiscal year, in excess of actual revenues collected and allocated      |
  |                                                                       |
15|thereto, as hereinafter provided, shall be null and void.  Revenues    |
  |                                                                       |
16|deposited in the State Treasury to the credit of the General Revenue   |
  |                                                                       |
17|Fund or of any special fund (which derives its revenue in whole or     |
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18|in part from state taxes or fees) shall, except as to principal and    |
  |                                                                       |
19|interest on the public debt, be allocated monthly to each              |
  |                                                                       |
20|department, institution, board, commission or special appropriation    |
  |                                                                       |
21|on a percentage basis, in that ratio that the total appropriation      |
  |                                                                       |
22|for such department, institution, board, commission or special         |
  |                                                                       |
23|appropriation from each fund for that fiscal year bears to the total   |
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24|of all appropriations from each fund for that fiscal year, and no      |
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arsid4461823 ENGR. H. J. R. NO. 1001                               Page 11
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 1|warrant shall be issued in excess of said allocation.  Any             |
  |                                                                       |
 2|department, institution or agency of the state operating on revenues   |
  |                                                                       |
 3|derived from any law or laws which allocate the revenues thereof to    |
  |                                                                       |
 4|such department, institution or agency shall not incur obligations     |
  |                                                                       |
 5|in excess of the unencumbered balance of cash on hand.  Nothing in     |
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 6|this section shall prevent, under such conditions and limitations as   |
  |                                                                       |
 7|shall be prescribed by law, the governing board of an institution of   |
  |                                                                       |
 8|higher education within The Oklahoma State System of Higher            |
  |                                                                       |
 9|Education from contracting with a president of such institution of     |
  |                                                                       |
10|higher education for periods extending more than one (1) year, but     |
  |                                                                       |
11|not to exceed three (3) years beyond the fiscal year in which the      |
  |                                                                       |
12|contract is signed.                                                    |
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13|    10.  The Legislature shall provide a method whereby                |
  |                                                                       |
14|appropriations shall be divided and set up on a monthly, quarterly     |
  |                                                                       |
15|or semiannual basis within each fiscal year to prevent obligations     |
  |                                                                       |
16|being incurred in excess of the revenue to be collected, and           |
  |                                                                       |
17|notwithstanding other provisions of this Constitution, the             |
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18|Legislature shall provide that all appropriations shall be reduced     |
  |                                                                       |
19|to bring them within revenues actually collected, but all such         |
  |                                                                       |
20|reductions shall apply to each department, institution, board,         |
  |                                                                       |
21|commission or special appropriation made by the State Legislature in   |
  |                                                                       |
22|the ratio that its total appropriation for that fiscal year bears to   |
  |                                                                       |
23|the total of all appropriations from that fund for that fiscal year;   |
  |                                                                       |
24|provided, however, that the Governor shall have discretion to issue    |
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arsid4461823 ENGR. H. J. R. NO. 1001                               Page 12
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 1|deficiency certificates to the State Treasurer for the benefit of      |
  |                                                                       |
 2|any department, institution or agency of the state, if the amount of   |
  |                                                                       |
 3|such deficiency certificates be within the limit of the current        |
  |                                                                       |
 4|appropriation for that department, institution or agency, whereupon    |
  |                                                                       |
 5|the State Treasurer shall issue warrants to the extent of such         |
  |                                                                       |
 6|certificates for the payment of such claims as may be authorized by    |
  |                                                                       |
 7|the Governor, and such warrants shall become a part of the public      |
  |                                                                       |
 8|debt and shall be paid out of any money appropriated by the            |
  |                                                                       |
 9|Legislature and made lawfully available therefor; provided further,    |
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10|that in no event shall said deficiency certificates exceed in the      |
  |                                                                       |
11|aggregate the sum of Five Hundred Thousand Dollars ($500,000.00) in    |
  |                                                                       |
12|any fiscal year.                                                       |
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13|    SECTION 2.  The Ballot Title for the proposed Constitutional       |
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14|amendment as set forth in SECTION 1 of this resolution shall be in     |
  |                                                                       |
15|the following form:                                                    |
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16|                            BALLOT TITLE                               |
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17|Legislative Referendum No. ____           State Question No. ____      |
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18|THE GIST OF THE PROPOSITION IS AS FOLLOWS:                             |
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19|    This measure amends the Oklahoma Constitution.  It amends          |
  |                                                                       |
20|    Section 23 of Article 10.  The Constitutional Reserve Fund is      |
  |                                                                       |
21|    also known as the Rainy Day Fund.  The Fund has a maximum          |
  |                                                                       |
22|    allowed balance.  This measure changes the way the maximum         |
  |                                                                       |
23|    balance amount would be computed.  Instead of using revenue        |
  |                                                                       |
24|    estimates provided by the State Board of Equalization for the      |
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arsid4461823 ENGR. H. J. R. NO. 1001                               Page 13
___________________________________________________________________________

 1|    annual appropriations process, the maximum balance allowed for     |
  |                                                                       |
 2|    the Rainy Day Fund would be based on a percentage of total state   |
  |                                                                       |
 3|    expenditures.  Total expenditures would include all appropriated   |
  |                                                                       |
 4|    monies and federal funds.  Total expenditures would exclude        |
  |                                                                       |
 5|    money from revolving funds which are used by state agencies.       |
  |                                                                       |
 6|    Total expenditures would exclude fees or similar charges that      |
  |                                                                       |
 7|    were not derived from tax revenue.  Total expenditures would       |
  |                                                                       |
 8|    exclude money obtained by issuing state government bonds.          |
  |                                                                       |
 9|    SHALL THE PROPOSAL BE APPROVED?                                    |
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10|    FOR THE PROPOSAL  YES          _____________                       |
  |                                                                       |
11|    AGAINST THE PROPOSAL  NO       _____________                       |
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12|    SECTION 3.  The Chief Clerk of the House of Representatives,       |
  |                                                                       |
13|immediately after the passage of this resolution, shall prepare and    |
  |                                                                       |
14|file one copy thereof, including the Ballot Title set forth in         |
  |                                                                       |
15|SECTION 2 hereof, with the Secretary of State and one copy with the    |
  |                                                                       |
16|Attorney General.                                                      |
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17|    Passed the House of Representatives the 11th day of March, 2021.   |
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18|                                                                       |
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19|                                                                       |
  |                                     Presiding Officer of the House    |
20|                                                 of Representatives    |
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21|                                                                       |
  |    Passed the Senate the ___ day of __________, 2021.                 |
22|                                                                       |
  |                                                                       |
23|                                                                       |
  |                                                                       |
24|                                    Presiding Officer of the Senate    |
  |                                                                       |
arsid4461823 ENGR. H. J. R. NO. 1001                               Page 14
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