§ 1353. Purpose of article--Apportionment of revenues
Oklahoma Statutes AnnotatedTitle 68. Revenue and TaxationEffective: July 1, 2023
Effective: July 1, 2023
68 Okl.St.Ann. § 1353
§ 1353. Purpose of article--Apportionment of revenues
<Text as amended by Laws 2022, c. 412, § 3, and Laws 2023, c. 290, § 2. See also, text as amended by Laws 2022, c. 240, § 1.>
A. It is hereby declared to be the purpose of the Oklahoma Sales Tax Code to provide funds for the financing of the program provided for by the Oklahoma Social Security Act1 and to provide revenues for the support of the functions of the state government of Oklahoma, and for this purpose it is hereby expressly provided that, revenues derived pursuant to the provisions of the Oklahoma Sales Tax Code, subject to the apportionment requirements for the Oklahoma Tax Commission and Office of Management and Enterprise Services Joint Computer Enhancement Fund provided by Section 265 of this title, shall be apportioned as follows:
Fiscal Year | Amount |
---|
FY 2003 and FY 2004 | 86.04% | |
FY 2005 | 85.83% | |
FY 2006 | 85.54% | |
FY 2007 | 85.04% | |
FY 2008 through FY 2022 | 83.61% | |
FY 2023 through FY 2027 | 83.36% | |
FY 2028 and each fiscal year thereafter | 83.61%; |
2. The following amounts shall be paid to the State Treasurer to be placed to the credit of the Education Reform Revolving Fund2 of the State Department of Education:
Fiscal Year | Amount |
---|
FY 2003 and FY 2004 | 3.54% | |
FY 2005 | 3.75% | |
FY 2006 | 4.0% | |
FY 2007 | 4.5% | |
FY 2008 through FY 2020 | 5.0% | |
FY 2021: | ||
a. | for the month beginning July 1, 2020, through the month ending August 31, 2020 | 5.0% | ||
b. | for the month beginning September 1, 2020, through the month ending June 30, 2021 | 3.5% | ||
FY 2022 | 5.0% | |
FY 2023 through FY 2027 | 5.25% | |
FY 2028 and each fiscal year thereafter | 5.0%; |
5. For the fiscal year beginning July 1, 2015, and for each fiscal year thereafter, six one-hundredths percent (0.06%) shall be placed to the credit of the Oklahoma Historical Society Capital Improvement and Operations Revolving Fund, but in no event shall such apportionment exceed the total amount apportioned pursuant to this paragraph for the fiscal year ending on June 30, 2015. Any amounts which exceed the limitations of this paragraph shall be placed to the credit of the General Revenue Fund.
B. Provided, for the fiscal year beginning July 1, 2007, and every fiscal year thereafter, an amount of revenue shall be apportioned to each municipality or county which levies a sales tax subject to the provisions of Section 1357.10 of this title and subsection F of Section 2701 of this title equal to the amount of sales tax revenue of such municipality or county exempted by the provisions of Section 1357.10 of this title and subsection F of Section 2701 of this title. The Oklahoma Tax Commission shall promulgate and adopt rules necessary to implement the provisions of this subsection.
Credits
Laws 1981, c. 313, § 2, emerg. eff. June 29, 1981; Laws 1982, c. 244, § 1; Laws 1983, c. 183, § 3, emerg. eff. June 9, 1983; Laws 1984, c. 2, § 1, emerg. eff. Feb. 15, 1984; Laws 1985, c. 179, § 85, operative July 1, 1985; Laws 1987, c. 5, § 142, operative March 31, 1987; Laws 1996, c. 269, § 3, eff. June 1, 1996; Laws 1999, c. 254, § 8, eff. June 30, 1999; Laws 2002, c. 482, § 1, eff. July 1, 2002; Laws 2003, c. 3, § 58, emerg. eff. March 19, 2003; Laws 2005, c. 479, § 11, eff. July 1, 2005; Laws 2006, 2nd Ex.Sess., c. 44, § 17, eff. July 1, 2007; Laws 2007, c. 105, § 3, eff. Nov. 1, 2007; Laws 2007, c. 366, § 3, eff. Nov. 1, 2007; Laws 2008, c. 3, § 34, emerg. eff. Feb. 28, 2008; Laws 2008, c. 278, § 8, eff. July 1, 2008; Laws 2010, c. 466, § 1, eff. July 1, 2010; Laws 2012, c. 304, § 540; Laws 2015, c. 349, § 1, eff. July 1, 2015; Laws 2018, c. 303, § 1, emerg. eff. May 10, 2018; Laws 2019, c. 446, § 1, emerg. eff. May 24, 2019; Laws 2020, c. 15, § 1, eff. Sept. 1, 2020; Laws 2021, c. 563, § 3, emerg. eff. May 28, 2021; Laws 2021, c. 490, § 1, eff. July 1, 2021; Laws 2022, c. 412, § 3, eff. July 1, 2022; Laws 2023, c. 290, § 2, eff. July 1, 2023.
68 Okl. St. Ann. § 1353, OK ST T. 68 § 1353
Current with emergency effective legislation through Chapter 125 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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