Bill Text For SB0427 - House Floor Version

 1|              HOUSE OF REPRESENTATIVES - FLOOR VERSION                 |
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 2|                          STATE OF OKLAHOMA                            |
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 3|             1st Session of the 57th Legislature (2019)                |
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 4|ENGROSSED SENATE                                                       |
  |BILL NO. 427                         By: Bice of the Senate            |
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  |                                         and                           |
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  |                                         Fetgatter of the House        |
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 9|       An Act relating to gross production tax; amending 68            |
  |       O.S. 2011, Section 1001.1, as amended by Section 2,             |
10|       Chapter 401, O.S.L. 2013 (68 O.S. Supp. 2018, Section           |
  |       1001.1), which relates to property exempt from ad               |
11|       valorem taxation due to payment of gross production             |
  |       tax; correcting references; amending 68 O.S. 2011,              |
12|       Section 1004, as last amended by Section 8, Chapter             |
  |       8, 2nd Extraordinary Session, O.S.L. 2018 (68 O.S.              |
13|       Supp. 2018, Section 1004), which relates to                     |
  |       apportionment of gross production tax; correcting               |
14|       references; and providing an effective date.                    |
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17|BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:                  |
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18|    SECTION 1.     AMENDATORY     68 O.S. 2011, Section 1001.1, as     |
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19|amended by Section 2, Chapter 401, O.S.L. 2013 (68 O.S. Supp. 2018,    |
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20|Section 1001.1), is amended to read as follows:                        |
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21|    Section 1001.1.  The Oklahoma Tax Commission shall adopt rules     |
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22|and regulations which establish guidelines for the determination of    |
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23|property exempt from ad valorem taxation pursuant to the provisions    |
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24|of subsections S and T subsections G and H of Section 1001 of this     |
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arsid549385 SB427 HFLR                                             Page 1
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 1|title.  Said guidelines shall include, but are not limited to, the     |
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 2|following:                                                             |
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 3|    1.  "Producing leases" means wells or leases or production units   |
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 4|which have had production during any of the previous three (3)         |
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 5|calendar years which is subject to the gross production tax levied     |
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 6|by Section 1001 of this title and which have not been abandoned or     |
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 7|required to be plugged as required by law on or before January 1 of    |
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 8|the year for which the assessment or valuation is made;                |
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 9|    2.  "Payment of gross production tax" means payment of the tax     |
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10|levied by Section 1001 of this title on production during any of the   |
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11|three (3) calendar years immediately prior to January 1 of the year    |
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12|for which the assessment or valuation is made; and                     |
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13|    3.  Property exempt from ad valorem tax pursuant to the            |
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14|provisions of subsections S and T subsections G and H of Section       |
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15|1001 of this title shall include, but is not limited to, lease         |
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16|production tanks, lease production meters, and disposal systems,       |
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17|including all materials and equipment of disposal systems and the      |
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18|lines transporting the waste materials, serving one or more wells,     |
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19|which are not for commercial purposes.  Provided, the exemption        |
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20|shall include the wellbore and non-recoverable down-hole material,     |
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21|including casing, actually used in the commercial disposal of waste    |
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22|materials produced with such oil or gas.  Such exempt property shall   |
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23|remain exempt as long as the property is essential to the production   |
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arsid549385 SB427 HFLR                                             Page 2
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 1|of oil and gas in commercial quantities.  The county assessor shall    |
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 2|be notified when such property becomes nonexempt.                      |
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 3|    SECTION 2.     AMENDATORY     68 O.S. 2011, Section 1004, as       |
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 4|last amended by Section 8, Chapter 8, 2nd Extraordinary Session,       |
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 5|O.S.L. 2018 (68 O.S. Supp. 2018, Section 1004), is amended to read     |
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 6|as follows:                                                            |
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 7|    Section 1004.  A.  As used in this section:                        |
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 8|    1.  "Moving five-year average amount for gas" means, for           |
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 9|purposes of the apportionments prescribed by this section, the         |
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10|amount of gross production tax on natural gas collected for each of    |
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11|the five (5) complete fiscal years, as computed by the State Board     |
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12|of Equalization pursuant to Section 34.103 of Title 62 of the          |
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13|Oklahoma Statutes; and                                                 |
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14|    2.  "Moving five-year average amount for oil" means, for           |
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15|purposes of the apportionments prescribed by this section, the         |
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16|amount of gross production tax on oil collected for each of the five   |
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17|(5) complete fiscal years, as computed by the State Board of           |
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18|Equalization pursuant to Section 34.103 of Title 62 of the Oklahoma    |
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19|Statutes.                                                              |
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20|    B.  Beginning July 1, 2017, the gross production tax provided      |
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21|for in Section 1001 of this title is hereby levied and shall be        |
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22|collected and apportioned as follows:                                  |
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23|    1.  For all monies collected from the tax levied on asphalt or     |
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24|ores bearing uranium, lead, zinc, jack, gold, silver or copper:        |
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arsid549385 SB427 HFLR                                             Page 3
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 1|         a.    eighty-five and seventy-two one-hundredths percent      |
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 2|              (85.72%) shall be paid to the State Treasurer of the     |
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 3|              state to be placed in the General Revenue Fund of the    |
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 4|              state and used for the general expense of state          |
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 5|              government, to be paid out pursuant to direct            |
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 6|              appropriation by the Legislature,                        |
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 7|         b.    seven and fourteen one-hundredths percent (7.14%) of    |
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 8|              the sum collected from natural gas and/or casinghead     |
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 9|              gas or asphalt or ores bearing uranium, lead, zinc,      |
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10|              jack, gold, silver or copper shall be paid to the        |
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11|              various county treasurers to be credited to the County   |
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12|              Highway Fund as follows:  Each county shall receive a    |
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13|              proportionate share of the funds available based upon    |
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14|              the proportion of the total value of production from     |
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15|              such county in the corresponding month of the            |
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16|              preceding year, and                                      |
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17|         c.    seven and fourteen one-hundredths percent (7.14%)       |
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18|              shall be allocated to each county as provided for in     |
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19|              subparagraph b of this paragraph and shall be            |
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20|              apportioned, on an average daily attendance per capita   |
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21|              distribution basis, as certified by the State            |
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22|              Superintendent of Public Instruction to the school       |
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23|              districts of the county where such pupils attend         |
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24|              school regardless of residence of such pupil, provided   |
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arsid549385 SB427 HFLR                                             Page 4
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 1|              the school district makes an ad valorem tax levy of      |
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 2|              fifteen (15) mills for the current year and maintains    |
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 3|              twelve (12) years of instruction;                        |
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 4|    2.  For all monies collected from the tax levied on natural gas    |
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 5|and/or casinghead gas at a tax rate of seven percent (7%) pursuant     |
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 6|to the provisions of subsection B of Section 1001 of this title:       |
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 7|         a.    after the total revenue apportioned to the General      |
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 8|              Revenue Fund as prescribed by subparagraph b of this     |
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 9|              paragraph equals the moving five-year average amount     |
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10|              for gas as defined by paragraph 1 of subsection A of     |
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11|              this section, there shall be apportioned from the        |
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12|              gross production tax levy imposed pursuant to Section    |
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13|              1001 of this title on natural gas and/or casinghead      |
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14|              gas to the Revenue Stabilization Fund created by         |
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15|              Section 34.102 of Title 62 of the Oklahoma Statutes,     |
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16|              the amount of revenue, if any, which exceeds the         |
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17|              moving five-year average amount for gas as defined       |
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18|              pursuant to paragraph 1 of subsection A of this          |
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19|              section,                                                 |
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20|         b.    until the apportionment to the General Revenue Fund     |
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21|              equals the moving five-year average amount for gas as    |
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22|              prescribed by paragraph 1 of subsection A of this        |
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23|              section, eighty-five and seventy-two one-hundredths      |
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24|              percent (85.72%) shall be paid to the State Treasurer    |
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arsid549385 SB427 HFLR                                             Page 5
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 1|              of the state to be placed in the General Revenue Fund    |
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 2|              of the state and used for the general expense of state   |
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 3|              government, to be paid out pursuant to direct            |
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 4|              appropriation by the Legislature,                        |
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 5|         c.    before any other apportionment of revenue has been      |
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 6|              made pursuant to this paragraph, seven and fourteen      |
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 7|              one-hundredths percent (7.14%) of the sum collected      |
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 8|              from natural gas and/or casinghead gas shall be paid     |
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 9|              to the various county treasurers to be credited to the   |
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10|              County Highway Fund as follows:  Each county shall       |
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11|              receive a proportionate share of the funds available     |
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12|              based upon the proportion of the total value of          |
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13|              production from such county in the corresponding month   |
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14|              of the preceding year, and                               |
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15|         d.    before any other apportionment of revenue has been      |
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16|              made pursuant to this paragraph, seven and fourteen      |
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17|              one-hundredths percent (7.14%) shall be allocated to     |
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18|              each county as provided for in subparagraph c of this    |
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19|              paragraph and shall be apportioned, on an average        |
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20|              daily attendance per capita distribution basis, as       |
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21|              certified by the State Superintendent of Public          |
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22|              Instruction to the school districts of the county        |
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23|              where such pupils attend school regardless of            |
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24|              residence of such pupil, provided the school district    |
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arsid549385 SB427 HFLR                                             Page 6
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 1|              makes an ad valorem tax levy of fifteen (15) mills for   |
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 2|              the current year and maintains twelve (12) years of      |
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 3|              instruction;                                             |
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 4|    3.  For all monies collected from the tax levied on natural gas    |
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 5|and/or casinghead gas at a tax rate of four percent (4%) pursuant to   |
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 6|the provisions of subsections B and E subsection B of Section 1001     |
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 7|of this title:                                                         |
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 8|         a.    after the total revenue apportioned to the General      |
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 9|              Revenue Fund as prescribed by subparagraph b of this     |
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10|              paragraph equals the moving five-year average amount     |
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11|              for gas as defined by paragraph 1 of subsection A of     |
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12|              this section, there shall be apportioned from the        |
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13|              gross production tax levy imposed pursuant to Section    |
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14|              1001 of this title on natural gas and/or casinghead      |
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15|              gas to the Revenue Stabilization Fund created pursuant   |
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16|              to Section 34.102 of Title 62 of the Oklahoma            |
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17|              Statutes, the amount of revenue, if any, which exceeds   |
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18|              the moving five-year average amount for gas as defined   |
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19|              pursuant to paragraph 1 of subsection A of this          |
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20|              section,                                                 |
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21|         b.    until the apportionment to the General Revenue Fund     |
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22|              equals the moving five-year average amount for gas as    |
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23|              prescribed by paragraph 1 of subsection A of this        |
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24|              section, seventy-five percent (75%) shall be paid to     |
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arsid549385 SB427 HFLR                                             Page 7
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 1|              the State Treasurer of the state to be placed in the     |
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 2|              General Revenue Fund of the state and used for the       |
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 3|              general expense of state government, to be paid out      |
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 4|              pursuant to direct appropriation by the Legislature,     |
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 5|         c.    before any other apportionment of revenue has been      |
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 6|              made pursuant to this paragraph, twelve and one-half     |
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 7|              percent (12.5%) of the sum collected from natural gas    |
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 8|              and/or casinghead gas shall be paid to the various       |
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 9|              county treasurers to be credited to the County Highway   |
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10|              Fund as follows:  Each county shall receive a            |
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11|              proportionate share of the funds available based upon    |
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12|              the proportion of the total value of production from     |
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13|              such county in the corresponding month of the            |
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14|              preceding year, and                                      |
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15|         d.    before any other apportionment of revenue has been      |
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16|              made pursuant to this paragraph, twelve and one-half     |
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17|              percent (12.5%) shall be allocated to each county as     |
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18|              provided for in subparagraph c of this paragraph and     |
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19|              shall be apportioned, on an average daily attendance     |
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20|              per capita distribution basis, as certified by the       |
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21|              State Superintendent of Public Instruction to the        |
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22|              school districts of the county where such pupils         |
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23|              attend school regardless of residence of such pupil,     |
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24|              provided the school district makes an ad valorem tax     |
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arsid549385 SB427 HFLR                                             Page 8
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 1|              levy of fifteen (15) mills for the current year and      |
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 2|              maintains twelve (12) years of instruction;              |
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 3|    4.  For all monies collected from the tax levied on natural gas    |
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 4|and/or casinghead gas at a tax rate of one percent (1%) pursuant to    |
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 5|the provisions of subsection B of Section 1001 of this title:          |
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 6|         a.    fifty percent (50%) of the sum collected from natural   |
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 7|              gas and/or casinghead gas shall be paid to the various   |
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 8|              county treasurers to be credited to the County Highway   |
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 9|              Fund as follows:  Each county shall receive a            |
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10|              proportionate share of the funds available based upon    |
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11|              the proportion of the total value of production from     |
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12|              such county in the corresponding month of the            |
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13|              preceding year, and                                      |
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14|         b.    fifty percent (50%) shall be allocated to each county   |
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15|              as provided for in subparagraph a of this paragraph      |
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16|              and shall be apportioned, on an average daily            |
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17|              attendance per capita distribution basis, as certified   |
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18|              by the State Superintendent of Public Instruction to     |
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19|              the school districts of the county where such pupils     |
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20|              attend school regardless of residence of such pupil,     |
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21|              provided the school district makes an ad valorem tax     |
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22|              levy of fifteen (15) mills for the current year and      |
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23|              maintains twelve (12) years of instruction;              |
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24|                                                                       |
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arsid549385 SB427 HFLR                                             Page 9
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 1|    5.  For all monies collected from the tax levied on natural gas    |
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 2|and/or casinghead gas at a tax rate of two percent (2%) pursuant to    |
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 3|the provisions of subparagraph c of paragraph 3 of subsection B of     |
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 4|Section 1001 of this title:                                            |
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 5|         a.    after the total revenue apportioned to the General      |
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 6|              Revenue Fund as prescribed by subparagraph b of this     |
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 7|              paragraph equals the moving five-year average amount     |
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 8|              for gas as defined by paragraph 1 of subsection A of     |
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 9|              this section, there shall be apportioned from the        |
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10|              gross production tax levy imposed pursuant to Section    |
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11|              1001 of this title on gas to the Revenue Stabilization   |
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12|              Fund created by Section 34.102 of Title 62 of the        |
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13|              Oklahoma Statutes, the amount of revenue, if any,        |
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14|              which exceeds the moving five-year average amount for    |
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15|              natural gas and/or casinghead gas as defined pursuant    |
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16|              to paragraph 1 of subsection A of this section,          |
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17|         b.    until the apportionment to the General Revenue Fund     |
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18|              equals the moving five-year average amount for gas as    |
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19|              prescribed by paragraph 1 of subsection A of this        |
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20|              section, fifty percent (50%) shall be paid to the        |
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21|              State Treasurer to be placed in the General Revenue      |
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22|              Fund of the state and used for the general expense of    |
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23|              state government, to be paid out pursuant to direct      |
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24|              appropriation by the Legislature,                        |
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arsid549385 SB427 HFLR                                             Page 10
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 1|         c.    before any other apportionment of revenue has been      |
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 2|              made pursuant to this paragraph, twenty-five percent     |
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 3|              (25%) of the sum collected from natural gas and/or       |
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 4|              casinghead gas shall be paid to the various county       |
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 5|              treasurers to be credited to the County Highway Fund     |
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 6|              as follows: Each county shall receive a proportionate    |
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 7|              share of the funds available based upon the proportion   |
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 8|              of the total value of production from such county in     |
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 9|              the corresponding month of the preceding year, and       |
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10|         d.    before any other apportionment of revenue has been      |
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11|              made pursuant to this paragraph, twenty-five percent     |
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12|              (25%) shall be allocated to each county as provided      |
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13|              for in subparagraph c of this paragraph and shall be     |
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14|              apportioned on an average daily attendance per capita    |
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15|              distribution basis, as certified by the State            |
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16|              Superintendent of Public Instruction, to the school      |
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17|              districts of the county where such pupils attend         |
  |                                                                       |
18|              school regardless of residence of such pupil, provided   |
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19|              the school district makes an ad valorem tax levy of      |
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20|              fifteen (15) mills for the current year and maintains    |
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21|              twelve (12) years of instruction;                        |
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22|    6.  For all monies collected from the tax levied on oil at a tax   |
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23|rate of seven percent (7%) pursuant to the provisions of subsection    |
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24|B of Section 1001 of this title:                                       |
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arsid549385 SB427 HFLR                                             Page 11
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 1|         a.    there shall be apportioned from the gross production    |
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 2|              tax levy imposed pursuant to Section 1001 of this        |
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 3|              title on oil to the Revenue Stabilization Fund created   |
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 4|              by Section 34.102 of Title 62 of the Oklahoma            |
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 5|              Statutes, after the applicable maximum amount            |
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 6|              prescribed by subsection C of this section has been      |
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 7|              deposited to the funds therein specified, the amount     |
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 8|              of revenue, if any, which would otherwise be             |
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 9|              apportioned to the General Revenue Fund and which        |
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10|              exceeds the moving five-year average amount for oil as   |
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11|              defined pursuant to paragraph 2 of subsection A of       |
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12|              this section,                                            |
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13|         b.    before any other apportionment of revenue has been      |
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14|              made pursuant to this paragraph, twenty-five and         |
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15|              seventy-two one-hundredths percent (25.72%) shall be     |
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16|              paid to the State Treasurer to be placed in the Common   |
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17|              Education Technology Revolving Fund created in Section   |
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18|              34.90 of Title 62 of the Oklahoma Statutes,              |
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19|         c.    before any other apportionment of revenue has been      |
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20|              made pursuant to this paragraph, twenty-five and         |
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21|              seventy-two one-hundredths percent (25.72%) shall be     |
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22|              paid to the State Treasurer to be placed in the Higher   |
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23|              Education Capital Revolving Fund created in Section      |
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24|              34.91 of Title 62 of the Oklahoma Statutes,              |
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arsid549385 SB427 HFLR                                             Page 12
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 1|         d.    before any other apportionment of revenue has been      |
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 2|              made pursuant to this paragraph, twenty-five and         |
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 3|              seventy-two one-hundredths percent (25.72%) shall be     |
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 4|              paid to the State Treasurer to be placed in the          |
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 5|              Oklahoma Student Aid Revolving Fund created in Section   |
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 6|              34.92 of Title 62 of the Oklahoma Statutes,              |
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 7|         e.    before any other apportionment of revenue has been      |
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 8|              made pursuant to this paragraph, three and seven         |
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 9|              hundred forty-five one-thousandths percent (3.745%)      |
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10|              shall be distributed to the various counties of the      |
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11|              state for deposit into the County Bridge and Road        |
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12|              Improvement Fund of each county based on a formula       |
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13|              developed by the Department of Transportation and        |
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14|              approved by the Department of Transportation County      |
  |                                                                       |
15|              Advisory Board created pursuant to Section 302.1 of      |
  |                                                                       |
16|              Title 69 of the Oklahoma Statutes to be used for the     |
  |                                                                       |
17|              purposes set forth in the County Bridge and Road         |
  |                                                                       |
18|              Improvement Act.  The formula shall be similar to the    |
  |                                                                       |
19|              formula currently used for the distribution of monies    |
  |                                                                       |
20|              in the County Bridge Program funds, but shall also       |
  |                                                                       |
21|              take into consideration the effect of the terrain and    |
  |                                                                       |
22|              traffic volume as related to county road improvement     |
  |                                                                       |
23|              and maintenance costs,                                   |
  |                                                                       |
24|                                                                       |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 13
___________________________________________________________________________

 1|         f.    before any other apportionment of revenue has been      |
  |                                                                       |
 2|              made pursuant to this paragraph, four and twenty-eight   |
  |                                                                       |
 3|              one-hundredths percent (4.28%) shall be paid to the      |
  |                                                                       |
 4|              State Treasurer to be apportioned to:                    |
  |                                                                       |
 5|              (1)   the following sources and in the following         |
  |                                                                       |
 6|                   amounts through the fiscal year ending June 30,     |
  |                                                                       |
 7|                   2019:                                               |
  |                                                                       |
 8|                   (a)   thirty-three and one-third percent (33        |
  |                                                                       |
 9|                        1/3%) to the Oklahoma Tourism and Recreation   |
  |                                                                       |
10|                        Department Capital Expenditure Revolving       |
  |                                                                       |
11|                        Fund created pursuant to Section 2254.1 of     |
  |                                                                       |
12|                        Title 74 of the Oklahoma Statutes,             |
  |                                                                       |
13|                   (b)   thirty-three and one-third percent (33        |
  |                                                                       |
14|                        1/3%) to the Oklahoma Conservation             |
  |                                                                       |
15|                        Commission Infrastructure Revolving Fund       |
  |                                                                       |
16|                        created pursuant to Section 3-2-110 of Title   |
  |                                                                       |
17|                        27A of the Oklahoma Statutes, and              |
  |                                                                       |
18|                   (c)   thirty-three and one-third percent (33        |
  |                                                                       |
19|                        1/3%) to the Community Water Infrastructure    |
  |                                                                       |
20|                        Development Revolving Fund created pursuant    |
  |                                                                       |
21|                        to Section 1085.7A of Title 82 of the          |
  |                                                                       |
22|                        Oklahoma Statutes, and                         |
  |                                                                       |
23|                                                                       |
  |                                                                       |
24|                                                                       |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 14
___________________________________________________________________________

 1|              (2)   the Oklahoma Water Resources Board Rural           |
  |                                                                       |
 2|                   Economic Action Plan Water Projects Fund for the    |
  |                                                                       |
 3|                   fiscal year beginning July 1, 2019, and for each    |
  |                                                                       |
 4|                   fiscal year thereafter,                             |
  |                                                                       |
 5|         g.    before any other apportionment of revenue has been      |
  |                                                                       |
 6|              made pursuant to this paragraph, seven and fourteen      |
  |                                                                       |
 7|              one-hundredths percent (7.14%) of the sum collected      |
  |                                                                       |
 8|              from oil shall be paid to the various county             |
  |                                                                       |
 9|              treasurers, to be credited to the County Highway Fund    |
  |                                                                       |
10|              as follows:  Each county shall receive a proportionate   |
  |                                                                       |
11|              share of the funds available based upon the proportion   |
  |                                                                       |
12|              of the total value of production from such county in     |
  |                                                                       |
13|              the corresponding month of the preceding year,           |
  |                                                                       |
14|         h.    before any other apportionment of revenue has been      |
  |                                                                       |
15|              made pursuant to this paragraph, seven and fourteen      |
  |                                                                       |
16|              one-hundredths percent (7.14%) shall be allocated to     |
  |                                                                       |
17|              each county as provided in subparagraph g of this        |
  |                                                                       |
18|              paragraph and shall be apportioned, on an average        |
  |                                                                       |
19|              daily attendance per capita distribution basis, as       |
  |                                                                       |
20|              certified by the State Superintendent of Public          |
  |                                                                       |
21|              Instruction, to the school districts of the county       |
  |                                                                       |
22|              where such pupils attend school regardless of            |
  |                                                                       |
23|              residence of such pupil, provided the school district    |
  |                                                                       |
24|              makes an ad valorem tax levy of fifteen (15) mills for   |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 15
___________________________________________________________________________

 1|              the current year and maintains twelve (12) years of      |
  |                                                                       |
 2|              instruction, and                                         |
  |                                                                       |
 3|         i.    before any other apportionment of revenue has been      |
  |                                                                       |
 4|              made pursuant to this paragraph, five hundred            |
  |                                                                       |
 5|              thirty-five one-thousandths percent (0.535%) of the      |
  |                                                                       |
 6|              levy shall be transmitted by the Oklahoma Tax            |
  |                                                                       |
 7|              Commission to the Statewide Circuit Engineering          |
  |                                                                       |
 8|              District Revolving Fund as created in Section 687.2 of   |
  |                                                                       |
 9|              Title 69 of the Oklahoma Statutes;                       |
  |                                                                       |
10|    7.  For all monies collected from the tax levied on oil at a tax   |
  |                                                                       |
11|rate of four percent (4%) pursuant to the provisions of subsections    |
  |                                                                       |
12|B and E subsection B of Section 1001 of this title:                    |
  |                                                                       |
13|         a.    there shall be apportioned from the gross production    |
  |                                                                       |
14|              tax levy imposed pursuant to Section 1001 of this        |
  |                                                                       |
15|              title on oil to the Revenue Stabilization Fund created   |
  |                                                                       |
16|              by Section 34.102 of Title 62 of the Oklahoma            |
  |                                                                       |
17|              Statutes, after the applicable maximum amount            |
  |                                                                       |
18|              prescribed by subsection C of this section has been      |
  |                                                                       |
19|              deposited to the funds therein specified, the amount     |
  |                                                                       |
20|              of revenue, if any, which would otherwise be             |
  |                                                                       |
21|              apportioned to the General Revenue Fund and which        |
  |                                                                       |
22|              exceeds the moving five-year average amount for oil as   |
  |                                                                       |
23|              defined pursuant to paragraph 2 of subsection A of       |
  |                                                                       |
24|              this section,                                            |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 16
___________________________________________________________________________

 1|         b.    before any other apportionment of revenue has been      |
  |                                                                       |
 2|              made pursuant to this paragraph, twenty-two and          |
  |                                                                       |
 3|              one-half percent (22.5%) shall be paid to the State      |
  |                                                                       |
 4|              Treasurer to be placed in the Common Education           |
  |                                                                       |
 5|              Technology Revolving Fund created in Section 34.90 of    |
  |                                                                       |
 6|              Title 62 of the Oklahoma Statutes,                       |
  |                                                                       |
 7|         c.    before any other apportionment of revenue has been      |
  |                                                                       |
 8|              made pursuant to this paragraph, twenty-two and          |
  |                                                                       |
 9|              one-half percent (22.5%) shall be paid to the State      |
  |                                                                       |
10|              Treasurer to be placed in the Higher Education Capital   |
  |                                                                       |
11|              Revolving Fund created in Section 34.91 of Title 62 of   |
  |                                                                       |
12|              the Oklahoma Statutes,                                   |
  |                                                                       |
13|         d.    before any other apportionment of revenue has been      |
  |                                                                       |
14|              made pursuant to this paragraph, twenty-two and          |
  |                                                                       |
15|              one-half percent (22.5%) shall be paid to the State      |
  |                                                                       |
16|              Treasurer to be placed in the Oklahoma Student Aid       |
  |                                                                       |
17|              Revolving Fund created in Section 34.92 of Title 62 of   |
  |                                                                       |
18|              the Oklahoma Statutes,                                   |
  |                                                                       |
19|         e.    before any other apportionment of revenue has been      |
  |                                                                       |
20|              made pursuant to this paragraph, three and               |
  |                                                                       |
21|              twenty-eight one-hundredths percent (3.28%) shall be     |
  |                                                                       |
22|              distributed to the various counties of the state for     |
  |                                                                       |
23|              deposit into the County Bridge and Road Improvement      |
  |                                                                       |
24|              Fund of each county based on a formula developed by      |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 17
___________________________________________________________________________

 1|              the Department of Transportation and approved by the     |
  |                                                                       |
 2|              Department of Transportation County Advisory Board       |
  |                                                                       |
 3|              created pursuant to Section 302.1 of Title 69 of the     |
  |                                                                       |
 4|              Oklahoma Statutes to be used for the purposes set        |
  |                                                                       |
 5|              forth in the County Bridge and Road Improvement Act.     |
  |                                                                       |
 6|              The formula shall be similar to the formula currently    |
  |                                                                       |
 7|              used for the distribution of monies in the County        |
  |                                                                       |
 8|              Bridge Program funds, but shall also take into           |
  |                                                                       |
 9|              consideration the effect of the terrain and traffic      |
  |                                                                       |
10|              volume as related to county road improvement and         |
  |                                                                       |
11|              maintenance costs,                                       |
  |                                                                       |
12|         f.    before any other apportionment of revenue has been      |
  |                                                                       |
13|              made pursuant to this paragraph, three and               |
  |                                                                       |
14|              seventy-five one-hundredths percent (3.75%) shall be     |
  |                                                                       |
15|              paid to the State Treasurer to be apportioned to:        |
  |                                                                       |
16|              (1)   the following sources and in the following         |
  |                                                                       |
17|                   amounts through the fiscal year ending June 30,     |
  |                                                                       |
18|                   2019:                                               |
  |                                                                       |
19|                   (a)   thirty-three and one-third percent (33        |
  |                                                                       |
20|                        1/3%) to the Oklahoma Tourism and Recreation   |
  |                                                                       |
21|                        Department Capital Expenditure Revolving       |
  |                                                                       |
22|                        Fund created pursuant to Section 2254.1 of     |
  |                                                                       |
23|                        Title 74 of the Oklahoma Statutes,             |
  |                                                                       |
24|                                                                       |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 18
___________________________________________________________________________

 1|                   (b)   thirty-three and one-third percent (33        |
  |                                                                       |
 2|                        1/3%) to the Oklahoma Conservation             |
  |                                                                       |
 3|                        Commission Infrastructure Revolving Fund       |
  |                                                                       |
 4|                        created pursuant to Section 3-2-110 of Title   |
  |                                                                       |
 5|                        27A of the Oklahoma Statutes, and              |
  |                                                                       |
 6|                   (c)   thirty-three and one-third percent (33        |
  |                                                                       |
 7|                        1/3%) to the Community Water Infrastructure    |
  |                                                                       |
 8|                        Development Revolving Fund created pursuant    |
  |                                                                       |
 9|                        to Section 1085.7A of Title 82 of the          |
  |                                                                       |
10|                        Oklahoma Statutes, and                         |
  |                                                                       |
11|              (2)   the Oklahoma Water Resources Board Rural           |
  |                                                                       |
12|                   Economic Action Plan Water Projects Fund for the    |
  |                                                                       |
13|                   fiscal year beginning July 1, 2019, and for each    |
  |                                                                       |
14|                   fiscal year thereafter,                             |
  |                                                                       |
15|         g.    before any other apportionment of revenue has been      |
  |                                                                       |
16|              made pursuant to this paragraph, twelve and one-half     |
  |                                                                       |
17|              percent (12.5%) of the sum collected from oil shall be   |
  |                                                                       |
18|              paid to the various county treasurers, to be credited    |
  |                                                                       |
19|              to the County Highway Fund as follows:  Each county      |
  |                                                                       |
20|              shall receive a proportionate share of the funds         |
  |                                                                       |
21|              available based upon the proportion of the total value   |
  |                                                                       |
22|              of production from such county in the corresponding      |
  |                                                                       |
23|              month of the preceding year,                             |
  |                                                                       |
24|                                                                       |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 19
___________________________________________________________________________

 1|         h.    before any other apportionment of revenue has been      |
  |                                                                       |
 2|              made pursuant to this paragraph, twelve and one-half     |
  |                                                                       |
 3|              percent (12.5%) shall be allocated to each county as     |
  |                                                                       |
 4|              provided in subparagraph g of this paragraph and shall   |
  |                                                                       |
 5|              be apportioned on an average daily attendance per        |
  |                                                                       |
 6|              capita distribution basis, as certified by the State     |
  |                                                                       |
 7|              Superintendent of Public Instruction, to the school      |
  |                                                                       |
 8|              districts of the county where such pupils attend         |
  |                                                                       |
 9|              school regardless of residence of such pupil, provided   |
  |                                                                       |
10|              the school district makes an ad valorem tax levy of      |
  |                                                                       |
11|              fifteen (15) mills for the current year and maintains    |
  |                                                                       |
12|              twelve (12) years of instruction, and                    |
  |                                                                       |
13|         i.    before any other apportionment of revenue has been      |
  |                                                                       |
14|              made pursuant to this paragraph, forty-seven             |
  |                                                                       |
15|              one-hundredths percent (0.47%) of the levy shall be      |
  |                                                                       |
16|              transmitted by the Tax Commission to the Statewide       |
  |                                                                       |
17|              Circuit Engineering District Revolving Fund as created   |
  |                                                                       |
18|              in Section 687.2 of Title 69 of the Oklahoma Statutes;   |
  |                                                                       |
19|    8.  For all monies collected from the tax levied on oil at a tax   |
  |                                                                       |
20|rate of one percent (1%) pursuant to the provisions of subsection B    |
  |                                                                       |
21|of Section 1001 of this title:                                         |
  |                                                                       |
22|         a.    fifty percent (50%) of the sum collected shall be       |
  |                                                                       |
23|              paid to the various county treasurers, to be credited    |
  |                                                                       |
24|              to the County Highway Fund as follows:  Each county      |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 20
___________________________________________________________________________

 1|              shall receive a proportionate share of the funds         |
  |                                                                       |
 2|              available based upon the proportion of the total value   |
  |                                                                       |
 3|              of production from such county in the corresponding      |
  |                                                                       |
 4|              month of the preceding year, and                         |
  |                                                                       |
 5|         b.    fifty percent (50%) shall be allocated to each county   |
  |                                                                       |
 6|              as provided for in subparagraph a of this paragraph      |
  |                                                                       |
 7|              and shall be apportioned on an average daily             |
  |                                                                       |
 8|              attendance per capita distribution basis, as certified   |
  |                                                                       |
 9|              by the State Superintendent of Public Instruction, to    |
  |                                                                       |
10|              the school districts of the county where such pupils     |
  |                                                                       |
11|              attend school regardless of residence of such pupil,     |
  |                                                                       |
12|              provided the school district makes an ad valorem tax     |
  |                                                                       |
13|              levy of fifteen (15) mills for the current year and      |
  |                                                                       |
14|              maintains twelve (12) years of instruction;              |
  |                                                                       |
15|    9.  For all monies collected from the tax levied on oil at a tax   |
  |                                                                       |
16|rate of two percent (2%) pursuant to the provisions of subparagraph    |
  |                                                                       |
17|c of paragraph 3 of subsection B of Section 1001 of this title:        |
  |                                                                       |
18|         a.    there shall be apportioned from the gross production    |
  |                                                                       |
19|              tax levy imposed pursuant to Section 1001 of this        |
  |                                                                       |
20|              title on oil to the Revenue Stabilization Fund created   |
  |                                                                       |
21|              by Section 34.102 of Title 62 of the Oklahoma            |
  |                                                                       |
22|              Statutes, the amount of revenue, if any, which exceeds   |
  |                                                                       |
23|              the moving five-year average amount for oil as defined   |
  |                                                                       |
24|                                                                       |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 21
___________________________________________________________________________

 1|              pursuant to paragraph 2 of subsection A of this          |
  |                                                                       |
 2|              section,                                                 |
  |                                                                       |
 3|         b.    until the apportionment to the General Revenue Fund     |
  |                                                                       |
 4|              equals the moving five-year average amount for oil as    |
  |                                                                       |
 5|              prescribed by paragraph 2 of subsection A of this        |
  |                                                                       |
 6|              section, fifty percent (50%) shall be paid to the        |
  |                                                                       |
 7|              State Treasurer to be placed in the General Revenue      |
  |                                                                       |
 8|              Fund of the state and used for the general expense of    |
  |                                                                       |
 9|              state government, to be paid out pursuant to direct      |
  |                                                                       |
10|              appropriation by the Legislature,                        |
  |                                                                       |
11|         c.    before any other apportionment of revenue has been      |
  |                                                                       |
12|              made pursuant to this paragraph, twenty-five percent     |
  |                                                                       |
13|              (25%) of the sum collected from oil shall be paid to     |
  |                                                                       |
14|              the various county treasurers, to be credited to the     |
  |                                                                       |
15|              County Highway Fund as follows:  Each county shall       |
  |                                                                       |
16|              receive a proportionate share of the funds available     |
  |                                                                       |
17|              based upon the proportion of the total value of          |
  |                                                                       |
18|              production from such county in the corresponding month   |
  |                                                                       |
19|              of the preceding year, and                               |
  |                                                                       |
20|         d.    before any other apportionment of revenue has been      |
  |                                                                       |
21|              made pursuant to this paragraph, twenty-five percent     |
  |                                                                       |
22|              (25%) shall be allocated to each county as provided in   |
  |                                                                       |
23|              subparagraph c of this paragraph and shall be            |
  |                                                                       |
24|              apportioned on an average daily attendance per capita    |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 22
___________________________________________________________________________

 1|              distribution basis, as certified by the State            |
  |                                                                       |
 2|              Superintendent of Public Instruction, to the school      |
  |                                                                       |
 3|              districts of the county where such pupils attend         |
  |                                                                       |
 4|              school regardless of residence of such pupil, provided   |
  |                                                                       |
 5|              the school district makes an ad valorem tax levy of      |
  |                                                                       |
 6|              fifteen (15) mills for the current year and maintains    |
  |                                                                       |
 7|              twelve (12) years of instruction;                        |
  |                                                                       |
 8|    10.  On or after the effective date of this act June 28, 2018,     |
  |                                                                       |
 9|the gross production tax levied on natural gas or casinghead gas at    |
  |                                                                       |
10|the rate of five percent (5%) provided for in paragraph 3 of           |
  |                                                                       |
11|subsection B of Section 1001 of this title shall be apportioned as     |
  |                                                                       |
12|follows:                                                               |
  |                                                                       |
13|         a.    after the total revenue apportioned to the General      |
  |                                                                       |
14|              Revenue Fund as prescribed by subparagraph b of this     |
  |                                                                       |
15|              paragraph equals the moving five-year average amount     |
  |                                                                       |
16|              for gas as defined by paragraph 1 of subsection A of     |
  |                                                                       |
17|              this section, there shall be apportioned from the        |
  |                                                                       |
18|              gross production tax levy imposed pursuant to Section    |
  |                                                                       |
19|              1001 of this title on natural gas and/or casinghead      |
  |                                                                       |
20|              gas to the Revenue Stabilization Fund created pursuant   |
  |                                                                       |
21|              to Section 34.102 of Title 62 of the Oklahoma            |
  |                                                                       |
22|              Statutes, the amount of revenue, if any, which exceeds   |
  |                                                                       |
23|              the moving five-year average amount for gas as defined   |
  |                                                                       |
24|                                                                       |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 23
___________________________________________________________________________

 1|              pursuant to paragraph 1 of subsection A of this          |
  |                                                                       |
 2|              section,                                                 |
  |                                                                       |
 3|         b.    until the apportionment to the General Revenue Fund     |
  |                                                                       |
 4|              equals the moving five-year average amount for gas as    |
  |                                                                       |
 5|              prescribed by paragraph 1 of subsection A of this        |
  |                                                                       |
 6|              section, eighty percent (80%) shall be paid to the       |
  |                                                                       |
 7|              State Treasurer of the state to be placed in the         |
  |                                                                       |
 8|              General Revenue Fund of the state and used for the       |
  |                                                                       |
 9|              general expense of state government, to be paid out      |
  |                                                                       |
10|              pursuant to direct appropriation by the Legislature,     |
  |                                                                       |
11|         c.    before any other apportionment of revenue has been      |
  |                                                                       |
12|              made pursuant to this paragraph, ten percent (10%) of    |
  |                                                                       |
13|              the sum collected from natural gas and/or casinghead     |
  |                                                                       |
14|              gas shall be paid to the various county treasurers to    |
  |                                                                       |
15|              be credited to the County Highway Fund as follows:       |
  |                                                                       |
16|              Each county shall receive a proportionate share of the   |
  |                                                                       |
17|              funds available based upon the proportion of the total   |
  |                                                                       |
18|              value of production from such county in the              |
  |                                                                       |
19|              corresponding month of the preceding year, and           |
  |                                                                       |
20|         d.    before any other apportionment of revenue has been      |
  |                                                                       |
21|              made pursuant to this paragraph, ten percent (10%)       |
  |                                                                       |
22|              shall be allocated to each county as provided for in     |
  |                                                                       |
23|              subparagraph c of this paragraph and shall be            |
  |                                                                       |
24|              apportioned, on an average daily attendance per capita   |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 24
___________________________________________________________________________

 1|              distribution basis, as certified by the State            |
  |                                                                       |
 2|              Superintendent of Public Instruction to the school       |
  |                                                                       |
 3|              districts of the county where such pupils attend         |
  |                                                                       |
 4|              school regardless of residence of such pupil, provided   |
  |                                                                       |
 5|              the school district makes an ad valorem tax levy of      |
  |                                                                       |
 6|              fifteen (15) mills for the current year and maintains    |
  |                                                                       |
 7|              twelve (12) years of instruction; and                    |
  |                                                                       |
 8|    11.  On or after the effective date of this act June 28, 2018,     |
  |                                                                       |
 9|the gross production tax on oil levied at the rate of five percent     |
  |                                                                       |
10|(5%) provided for in paragraph 3 of subsection B of Section 1001 of    |
  |                                                                       |
11|this title shall be apportioned as follows:                            |
  |                                                                       |
12|         a.    there shall be apportioned from the gross production    |
  |                                                                       |
13|              tax levy imposed pursuant to Section 1001 of this        |
  |                                                                       |
14|              title on oil to the Revenue Stabilization Fund created   |
  |                                                                       |
15|              by Section 34.102 of Title 62 of the Oklahoma            |
  |                                                                       |
16|              Statutes, after the applicable maximum amount            |
  |                                                                       |
17|              prescribed by subsection C of this section has been      |
  |                                                                       |
18|              deposited to the funds therein specified, the amount     |
  |                                                                       |
19|              of revenue, if any, which would otherwise be             |
  |                                                                       |
20|              apportioned to the General Revenue Fund and which        |
  |                                                                       |
21|              exceeds the moving five-year average amount for oil as   |
  |                                                                       |
22|              defined pursuant to paragraph 2 of subsection A of       |
  |                                                                       |
23|              this section,                                            |
  |                                                                       |
24|                                                                       |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 25
___________________________________________________________________________

 1|         b.    before any other apportionment of revenue has been      |
  |                                                                       |
 2|              made pursuant to this paragraph, twenty-three and        |
  |                                                                       |
 3|              seventy-five one-hundredths percent (23.75%) shall be    |
  |                                                                       |
 4|              paid to the State Treasurer to be placed in the Common   |
  |                                                                       |
 5|              Education Technology Revolving Fund created in Section   |
  |                                                                       |
 6|              34.90 of Title 62 of the Oklahoma Statutes,              |
  |                                                                       |
 7|         c.    before any other apportionment of revenue has been      |
  |                                                                       |
 8|              made pursuant to this paragraph, twenty-three and        |
  |                                                                       |
 9|              seventy-five one-hundredths percent (23.75%) shall be    |
  |                                                                       |
10|              paid to the State Treasurer to be placed in the Higher   |
  |                                                                       |
11|              Education Capital Revolving Fund created in Section      |
  |                                                                       |
12|              34.91 of Title 62 of the Oklahoma Statutes,              |
  |                                                                       |
13|         d.    before any other apportionment of revenue has been      |
  |                                                                       |
14|              made pursuant to this paragraph, twenty-three and        |
  |                                                                       |
15|              seventy-five one-hundredths percent (23.75%) shall be    |
  |                                                                       |
16|              paid to the State Treasurer to be placed in the          |
  |                                                                       |
17|              Oklahoma Student Aid Revolving Fund created in Section   |
  |                                                                       |
18|              34.92 of Title 62 of the Oklahoma Statutes,              |
  |                                                                       |
19|         e.    before any other apportionment of revenue has been      |
  |                                                                       |
20|              made pursuant to this paragraph, three and               |
  |                                                                       |
21|              twenty-eight one-hundredths percent (3.28%) shall be     |
  |                                                                       |
22|              distributed to the various counties of the state for     |
  |                                                                       |
23|              deposit into the County Bridge and Road Improvement      |
  |                                                                       |
24|              Fund of each county based on a formula developed by      |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 26
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 1|              the Department of Transportation and approved by the     |
  |                                                                       |
 2|              Department of Transportation County Advisory Board       |
  |                                                                       |
 3|              created pursuant to Section 302.1 of Title 69 of the     |
  |                                                                       |
 4|              Oklahoma Statutes to be used for the purposes set        |
  |                                                                       |
 5|              forth in the County Bridge and Road Improvement Act.     |
  |                                                                       |
 6|              The formula shall be similar to the formula currently    |
  |                                                                       |
 7|              used for the distribution of monies in the County        |
  |                                                                       |
 8|              Bridge Program funds, but shall also take into           |
  |                                                                       |
 9|              consideration the effect of the terrain and traffic      |
  |                                                                       |
10|              volume as related to county road improvement and         |
  |                                                                       |
11|              maintenance costs,                                       |
  |                                                                       |
12|         f.    before any other apportionment of revenue has been      |
  |                                                                       |
13|              made pursuant to this paragraph, five percent (5%)       |
  |                                                                       |
14|              shall be paid to the State Treasurer to be apportioned   |
  |                                                                       |
15|              to:                                                      |
  |                                                                       |
16|              (1)   the following sources and in the following         |
  |                                                                       |
17|                   amounts through the fiscal year ending June 30,     |
  |                                                                       |
18|                   2019:                                               |
  |                                                                       |
19|                   (a)   thirty-three and one-third percent (33        |
  |                                                                       |
20|                        1/3%) to the Oklahoma Tourism and Recreation   |
  |                                                                       |
21|                        Department Capital Expenditure Revolving       |
  |                                                                       |
22|                        Fund created pursuant to Section 2254.1 of     |
  |                                                                       |
23|                        Title 74 of the Oklahoma Statutes,             |
  |                                                                       |
24|                                                                       |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 27
___________________________________________________________________________

 1|                   (b)   thirty-three and one-third percent (33        |
  |                                                                       |
 2|                        1/3%) to the Oklahoma Conservation             |
  |                                                                       |
 3|                        Commission Infrastructure Revolving Fund       |
  |                                                                       |
 4|                        created pursuant to Section 3-2-110 of Title   |
  |                                                                       |
 5|                        27A of the Oklahoma Statutes, and              |
  |                                                                       |
 6|                   (c)   thirty-three and one-third percent (33        |
  |                                                                       |
 7|                        1/3%) to the Community Water Infrastructure    |
  |                                                                       |
 8|                        Development Revolving Fund created pursuant    |
  |                                                                       |
 9|                        to Section 1085.7A of Title 82 of the          |
  |                                                                       |
10|                        Oklahoma Statutes, and                         |
  |                                                                       |
11|              (2)   the Oklahoma Water Resources Board Rural           |
  |                                                                       |
12|                   Economic Action Plan Water Projects Fund for the    |
  |                                                                       |
13|                   fiscal year beginning July 1, 2019, and for each    |
  |                                                                       |
14|                   fiscal year thereafter,                             |
  |                                                                       |
15|         g.    before any other apportionment of revenue has been      |
  |                                                                       |
16|              made pursuant to this paragraph, ten percent (10%) of    |
  |                                                                       |
17|              the sum collected from oil shall be paid to the          |
  |                                                                       |
18|              various county treasurers, to be credited to the         |
  |                                                                       |
19|              County Highway Fund as follows:  Each county shall       |
  |                                                                       |
20|              receive a proportionate share of the funds available     |
  |                                                                       |
21|              based upon the proportion of the total value of          |
  |                                                                       |
22|              production from such county in the corresponding month   |
  |                                                                       |
23|              of the preceding year,                                   |
  |                                                                       |
24|                                                                       |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 28
___________________________________________________________________________

 1|         h.    before any other apportionment of revenue has been      |
  |                                                                       |
 2|              made pursuant to this paragraph, ten percent (10%)       |
  |                                                                       |
 3|              shall be allocated to each county as provided in         |
  |                                                                       |
 4|              subparagraph g of this paragraph and shall be            |
  |                                                                       |
 5|              apportioned on an average daily attendance per capita    |
  |                                                                       |
 6|              distribution basis, as certified by the State            |
  |                                                                       |
 7|              Superintendent of Public Instruction, to the school      |
  |                                                                       |
 8|              districts of the county where such pupils attend         |
  |                                                                       |
 9|              school regardless of residence of such pupil, provided   |
  |                                                                       |
10|              the school district makes an ad valorem tax levy of      |
  |                                                                       |
11|              fifteen (15) mills for the current year and maintains    |
  |                                                                       |
12|              twelve (12) years of instruction, and                    |
  |                                                                       |
13|         i.    before any other apportionment of revenue has been      |
  |                                                                       |
14|              made pursuant to this paragraph, forty-seven             |
  |                                                                       |
15|              one-hundredths percent (0.47%) of the levy shall be      |
  |                                                                       |
16|              transmitted by the Tax Commission to the Statewide       |
  |                                                                       |
17|              Circuit Engineering District Revolving Fund as created   |
  |                                                                       |
18|              in Section 687.2 of Title 69 of the Oklahoma Statutes.   |
  |                                                                       |
19|    C.  Provided, notwithstanding any other provision of this          |
  |                                                                       |
20|section, the total amounts deposited to the Common Education           |
  |                                                                       |
21|Technology Revolving Fund, the Higher Education Capital Revolving      |
  |                                                                       |
22|Fund, the Oklahoma Student Aid Revolving Fund, the Rural Economic      |
  |                                                                       |
23|Action Plan Water Projects Fund, the Oklahoma Tourism and Recreation   |
  |                                                                       |
24|Department Capital Expenditure Revolving Fund, the Oklahoma            |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 29
___________________________________________________________________________

 1|Conservation Commission Infrastructure Revolving Fund and the          |
  |                                                                       |
 2|Community Water Infrastructure Development Revolving Fund pursuant     |
  |                                                                       |
 3|to paragraphs 6, 7 and 11 of subsection B of this section shall not    |
  |                                                                       |
 4|exceed One Hundred Fifty Million Dollars ($150,000,000.00) in any      |
  |                                                                       |
 5|fiscal year.  Except as otherwise provided in this subsection, all     |
  |                                                                       |
 6|sums in excess of One Hundred Fifty Million Dollars                    |
  |                                                                       |
 7|($150,000,000.00) in any fiscal year which would otherwise be          |
  |                                                                       |
 8|deposited in such funds shall be apportioned by the Oklahoma Tax       |
  |                                                                       |
 9|Commission to the General Revenue Fund of the state.                   |
  |                                                                       |
10|    SECTION 3.  This act shall become effective November 1, 2019.      |
  |                                                                       |
11|                                                                       |
  |                                                                       |
12|COMMITTEE REPORT BY: COMMITTEE ON APPROPRIATIONS AND BUDGET, dated     |
  |04/11/2019 - DO PASS.                                                  |
13|                                                                       |
  |                                                                       |
14|                                                                       |
  |                                                                       |
15|                                                                       |
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16|                                                                       |
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17|                                                                       |
  |                                                                       |
18|                                                                       |
  |                                                                       |
19|                                                                       |
  |                                                                       |
20|                                                                       |
  |                                                                       |
21|                                                                       |
  |                                                                       |
22|                                                                       |
  |                                                                       |
23|                                                                       |
  |                                                                       |
24|                                                                       |
  |                                                                       |
arsid549385 SB427 HFLR                                             Page 30
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