SB 1144 — Teachers' Retirement System of Oklahoma; ceasing certain apportionments upon certain conditions; authorizing benefit increase for certain retired members. Effective dates.

If the State Board of Equalization finds that education funding was supplanted by funds from the trust fund, the Board shall specify the amount by which education funding was supplanted.

In this event, the Legislature shall not make any ENGR.

1144 Page 75 RBS No.

3869 whether appropriations forfrom the ensuingtrust fiscalfund yearwere untilused an appropriation in that amount is made to replenishenhance theor trustsupplant fund.education funding.

If the State Board of Equalization finds that education funding was supplanted by funds from the trust fund, the Board shall specify the amount by which education funding was supplanted.

In this event, the Legislature shall not make any appropriations for the ensuing fiscal year until an appropriation in that amount is made to replenish the trust fund.

The fund shall be a continuing fund, not subject to fiscal ENGR.year limitations, and shall consist of all monies received by the Commission.

All monies accruing to the credit of the Oklahoma Education Lottery Revolving Fund are hereby appropriated and may be budgeted and expended for the payment of net proceeds, prizes, commissions to retailers, administrative expenses and all other expenses arising out of the operation of the education lottery, subject to the limitations provided in the Oklahoma Education Lottery Act.

Expenditures from the fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment.

ENR.

1144 Page 86 RBS No.

3869 yearThe limitations,monies andin shallthe consistfund ofshall allbe moniesinvested received by the Commission.State Treasurer in accordance with state investment practices.

All monies accruing to the credit of the Oklahoma Education Lottery Revolving Fund are hereby appropriated and may be budgeted and expended for the payment of net proceeds, prizes, commissions to retailers, administrative expenses and all other expenses arising out of the operation of the education lottery, subject to the limitations provided in the Oklahoma Education Lottery Act.

Expenditures from the fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of the Office of Management and Enterprise Services for approval and payment.

The monies in the fund shall be invested by the State Treasurer in accordance with state investment practices.

Beginning in July of the fiscal year in which appropriations are made to common education from the Oklahoma Education Lottery Trust Fund, the Commission, on or before the ninth day of each ENGR.month, shall transfer to the State Treasurer, for credit to the Oklahoma Education Lottery Trust Fund, one-twelfth (1/12) of the annual apportionment due to common education as required by subparagraph a of paragraph 1 of subsection C of this section;

S.

B.

NO.

1144 Page 9 RBS No.

3869 month, shall transfer to the State Treasurer, for credit to the Oklahoma Education Lottery Trust Fund, one-twelfth (1/12) of the annual apportionment due to common education as required by subparagraph a of paragraph 1 of subsection C of this section;

1.ENR.

Beginning in July of the fiscal year in which appropriations are made to The Oklahoma State System of Higher Education from the Oklahoma Education Lottery Trust Fund, the Commission, on or before ENGR.

1144 Page 107 RBS No.

3869 the1. ninth day of each month, shall transfer to the State Treasurer, for credit to the Oklahoma Education Lottery Trust Fund one-twelfth (1/12) of the annual apportionment due to the Oklahoma State Regents for Higher Education as required by subparagraph b of paragraph 1 of subsection C of this section;

Beginning in July of the fiscal year in which appropriations are made to The Oklahoma State System of Higher Education from the Oklahoma Education Lottery Trust Fund, the Commission, on or before the ninth day of each month, shall transfer to the State Treasurer, for credit to the Oklahoma Education Lottery Trust Fund one-twelfth (1/12) of the annual apportionment due to the Oklahoma State Regents for Higher Education as required by subparagraph b of paragraph 1 of subsection C of this section;

ENGR.1.

Beginning in July of the fiscal year in which appropriations are made to the Oklahoma Department of Career and Technology Education from the Oklahoma Education Lottery Trust Fund, the Commission, on or before the ninth day of each quarter, shall transfer to the State Treasurer, for credit to the Oklahoma Education Lottery Trust Fund, one-fourth (1/4) of the annual apportionment due to the Oklahoma Department of Career and Technology Education as required by subparagraph b of paragraph 1 of subsection C of this section;

2.

The Director of the Office of Management and Enterprise Services shall allocate the transfer provided for in paragraph 1 of ENR.

1144 Page 118 RBS No.

3869 1.this subsection to the Oklahoma Department of Career and Technology Education on a quarterly basis, not to exceed one-fourth (1/4) of the annual apportionment for the fiscal year;

Beginning in July of the fiscal year in which appropriations are made to the Oklahoma Department of Career and Technology Education from the Oklahoma Education Lottery Trust Fund, the Commission, on or before the ninth day of each quarter, shall transfer to the State Treasurer, for credit to the Oklahoma Education Lottery Trust Fund, one-fourth (1/4) of the annual apportionment due to the Oklahoma Department of Career and Technology Education as required by subparagraph b of paragraph 1 of subsection C of this section;

2.

The Director of the Office of Management and Enterprise Services shall allocate the transfer provided for in paragraph 1 of this subsection to the Oklahoma Department of Career and Technology Education on a quarterly basis, not to exceed one-fourth (1/4) of the annual apportionment for the fiscal year;

When appropriations from the Oklahoma Education Lottery Trust Fund are made to the School Consolidation Assistance Fund and Teachers’ Retirement System Dedicated Revenue Revolving Fund, pursuant to the provisions of subparagraphs c and d of paragraph 1 of subsection C of this section, the appropriations shall be made ENGR.available on an annual basis.

S.

B.

NO.

1144 Page 12 RBS No.

3869 available on an annual basis.

The total amount of transfers to the Oklahoma Education Lottery Trust Fund of net lottery proceeds made pursuant to this subsection shall not exceed the total appropriations made to the ENGR.ENR.

1144 Page 139 RBS No.

ENGR.1.

S.

B.

NO.

1144 Page 14 RBS No.

3869 1.

3.ENR.

S.

B.

NO.

1144 Page 10 RBS No.

3869 3.

ENGR.(1) grant a benefit increase under the retirement system affected by the bill, (2) create an actuarial accrued liability for or increase the actuarial accrued liability of the retirement system affected by the bill, or (3) increase the normal cost of the retirement system affected by the bill, c.

S.

B.

NO.

1144 Page 15 RBS No.

3869 (1) grant a benefit increase under the retirement system affected by the bill, (2) create an actuarial accrued liability for or increase the actuarial accrued liability of the retirement system affected by the bill, or (3) increase the normal cost of the retirement system affected by the bill, c.

which provides for the computation of a service- connected disability retirement benefit for members of the Oklahoma Law Enforcement Retirement System pursuantENR. to Section 2-305 of Title 47 of the Oklahoma Statutes if the members were unable to complete twenty (20) years of service as a result of the disability, e.

which requires membership in the defined benefit plan authorized by Section 901 et seq.

of Title 74 of the ENGR.

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3869 Oklahomapursuant Statutesto forSection persons2-305 whoseof firstTitle elected47 orof appointedthe serviceOklahoma occursStatutes onif orthe aftermembers Novemberwere 1,unable 2018,to ifcomplete suchtwenty persons(20) hadyears anyof prior service inas thea Oklahomaresult Publicof Employeesthe Retirementdisability, Systeme. prior to November 1, 2015, f.

which requires membership in the defined benefit plan authorized by Section 901 et seq.

of Title 74 of the Oklahoma Statutes for persons whose first elected or appointed service occurs on or after November 1, 2018, if such persons had any prior service in the Oklahoma Public Employees Retirement System prior to November 1, 2015, f.

(1) the lesser of two percent (2%) of the gross annual retirement benefit of the member or One Thousand Dollars ($1,000.00) and requires that the benefit may only be provided if the funded ratio of the affected retirement system would not be less than sixty percent (60%) but not greater than eighty percent (80%) after the benefit increase is paid, (2) the lesser of two percent (2%) of the gross annual retirement benefit of the member or One Thousand Two Hundred Dollars ($1,200.00) and requires that the benefit may only be provided if the funded ratio of the affected retirement ENGR.system would be greater than eighty percent (80%) but not greater than one hundred percent (100%) after the benefit increase is paid, (3) the lesser of two percent (2%) of the gross annual retirement benefit of the member or One Thousand Four Hundred Dollars ($1,400.00) and requires that the benefit may only be provided if the funded ratio of the affected retirement ENR.

1144 Page 1712 RBS No.

3869 system would be greater than eighty percent (80%) but not greater than one hundred percent (100%) after the benefit increase is paid, (3) the lesser of two percent (2%) of the gross annual retirement benefit of the member or One Thousand Four Hundred Dollars ($1,400.00) and requires that the benefit may only be provided if the funded ratio of the affected retirement system would be greater than one hundred percent (100%) after the benefit increase is paid, or (4) the greater of two percent (2%) of the gross annual retirement benefit of the volunteer firefighter or One Hundred Dollars ($100.00) for persons who retired from the Oklahoma Firefighters Pension and Retirement System as volunteer firefighters and who did not retire from the Oklahoma Firefighters Pension and Retirement System as a paid firefighter.

As used in this subparagraph, “funded ratio” means the figure derived by dividing the actuarial value of assets of the applicable retirement system by the actuarial accrued liability of the applicable retirement system, ENGR.g.

S.

B.

NO.

1144 Page 18 RBS No.

3869 g.

(1) Section 49-143.7 of Title 11 of the Oklahoma Statutes, (2) Section 50-136.9 of Title 11 of the Oklahoma Statutes, (3) Section 1104K of Title 20 of the Oklahoma Statutes, (4) Section 2-305.12 of Title 47 of the Oklahoma Statutes, (5) Section 17-116.22 of Title 70 of the Oklahoma Statutes, (6) Section 6 of this act, (7)ENR. Section 930.11 of Title 74 of the Oklahoma Statutes, i.

which modifies the computation of the line-of-duty disability benefit pursuant to the provisions of this section and Sections 50-101 and 50-115 of Title 11 of the Oklahoma Statutes, or ENGR.

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3869 j.(7) Section 930.11 of Title 74 of the Oklahoma Statutes, i.

which modifies the computation of the line-of-duty disability benefit pursuant to the provisions of this section and Sections 50-101 and 50-115 of Title 11 of the Oklahoma Statutes, or j.

ENGR.8.

“Retirement bill having a fiscal impact” means any retirement bill creating or establishing a retirement system and any other retirement bill other than a nonfiscal retirement bill;

and ENR.

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3869 8.9.

“Retirement bill having a fiscal impact” means any retirement bill creating or establishing a retirement system and any other retirement bill other than a nonfiscal retirement bill;

and 9.

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 Act 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, and further subject to the apportionment ENGR.requirement provided in subsection D of this section, shall be apportioned as follows:

S.

B.

NO.

1144 Page 21 RBS No.

3869 requirement provided in subsection D of this section, shall be apportioned as follows:

Fiscal Year Amount FY 2003 and FY 2004 86.04% FY 2005 85.83% FY 2006 85.54% FYENR. 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%, and b.

After such conditions of subparagraph c of paragraph 3 of this subsection have been met and except as provided in subsection C of this section, the following amounts shall be paid to the State Treasurer to be placed to the credit of the General Revenue Fund ENGR.

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3869 toFY be2007 paid85.04% outFY pursuant2008 tothrough directFY appropriation2022 by83.61% theFY Legislature:2023 through FY 2027 83.36% FY 2028 and each fiscal year thereafter 83.61%, and b.

After such conditions of subparagraph c of paragraph 3 of this subsection have been met and except as provided in subsection C of this section, the following amounts shall be paid to the State Treasurer to be placed to the credit of the General Revenue Fund to be paid out pursuant to direct appropriation by the Legislature:

for FY 2006 through FY 2020, ten and forty-six one- hundredths percent (10.46%), c.ENR.

for FY 2021:

(1) for the month beginning July 1, 2020, through the month ending August 31, 2020, ten and forty-six one-hundredths percent (10.46%), and (2) for the month beginning September 1, 2020, through the month ending June 30, 2021, eleven ENGR.

1144 Page 2316 RBS No.

3869 andc. ninety-six one-hundredths percent (11.96%), and d.

for FY 2021:

(1) for the month beginning July 1, 2020, through the month ending August 31, 2020, ten and forty-six one-hundredths percent (10.46%), and (2) for the month beginning September 1, 2020, through the month ending June 30, 2021, eleven and ninety-six one-hundredths percent (11.96%), and d.

for the month beginning September 1, 2020, through the month ending June 30, 2021 3.5% FYENR. 2022 5.0% FY 2023 through FY 2027 5.25% ENGR.

1144 Page 2417 RBS No.

3869 FY 2022 5.0% FY 2023 through FY 2027 5.25% FY 2028 and each fiscal year thereafter 5.0%, c.

(1) twenty-four percent (24%) shall be placed to the credit of the Oklahoma Tourism Promotion Revolving Fund, but in no event shall such apportionment exceed Five Million Dollars ($5,000,000.00) in any fiscal year, (2) forty-four percent (44%) shall be placed to the credit of the Oklahoma Tourism Capital Improvement Revolving Fund, but in no event shall such apportionment exceed Nine Million Dollars ($9,000,000.00) in any fiscal year, and ENGR.(3) thirty-two percent (32%) shall be placed to the credit of the Oklahoma Route 66 Commission Revolving Fund, but in no event shall such apportionment exceed Six Million Six Hundred Thousand Dollars ($6,600,000.00) in any fiscal year, and ENR.

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3869 (3) thirty-two percent (32%) shall be placed to the credit of the Oklahoma Route 66 Commission Revolving Fund, but in no event shall such apportionment exceed Six Million Six Hundred Thousand Dollars ($6,600,000.00) in any fiscal year, and 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 ENGR.Section 2701 of this title.

S.

B.

NO.

1144 Page 26 RBS No.

3869 Section 2701 of this title.

Nine Million Six Hundred Thousand Dollars ($9,600,000.00) to the credit of the State Highway Construction and Maintenance Fund created in Section 1501 of Title 69 of the Oklahoma Statutes, and b.

a.ENR.

Twenty Million Dollars ($20,000,000.00) to the credit of the State Highway Construction and Maintenance Fund created in Section 1501 of Title 69 of the Oklahoma Statutes, and b.

Two Million Dollars ($2,000,000.00) to the credit of the Oklahoma Railroad Maintenance Revolving Fund created in Section 309 of Title 66 of the Oklahoma Statutes;

ENGR.

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3869 3.a.

Twenty Million Dollars ($20,000,000.00) to the credit of the State Highway Construction and Maintenance Fund created in Section 1501 of Title 69 of the Oklahoma Statutes, and b.

Two Million Dollars ($2,000,000.00) to the credit of the Oklahoma Railroad Maintenance Revolving Fund created in Section 309 of Title 66 of the Oklahoma Statutes;

3.

Twenty Million Dollars ($20,000,000.00) to the credit of the State Highway Construction and Maintenance Fund created in Section 1501 of Title 69 of the Oklahoma Statutes, and ENGR.ENR.

1144 Page 2820 RBS No.

Until the conditions of subparagraph c of paragraph 3 of this subsection have been met, the following amounts shall be paid by the Tax Commission to the ENGR.State Treasurer and placed to the credit of the General Revenue Fund to be paid out pursuant to direct appropriation by the Legislature:

Fiscal Year Amount FY 2004 85.35% FY 2005 85.14% FY 2006 85.54% FY 2007 85.04% ENR.

1144 Page 2921 RBS No.

3869 StateFY Treasurer2008 andthrough placedFY to2022 the83.61% creditFY of2023 thethrough GeneralFY Revenue2027 Fund83.36% toFY be2028 paidand outeach pursuantfiscal toyear directthereafter appropriation83.61%, byand theb. Legislature:

Fiscal Year Amount FY 2004 85.35% FY 2005 85.14% 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%, and b.

Fiscal Year Amount FY 2004 85.35% FY 2005 85.14% FY 2006 85.54% FY 2007 85.04% FY 2008 through FY 2022 83.61% FY 2023 through FY 2027 83.36% ENGR.FY 2028 and each fiscal year thereafter 88.61%;

S.

B.

NO.

1144 Page 30 RBS No.

3869 FY 2028 and each fiscal year thereafter 88.61%;

(1) for the month beginning July 1, 2020, through the month ending August 31, 2020, ten and forty-six one-hundredths percent (10.46%), and (2)ENR. for the month beginning September 1, 2020, through the month ending June 30, 2021, eleven and ninety-six one-hundredths percent (11.96%), and c.

S.

B.

NO.

1144 Page 22 RBS No.

3869 (2) for the month beginning September 1, 2020, through the month ending June 30, 2021, eleven and ninety-six one-hundredths percent (11.96%), and c.

Fiscal Year Amount FY 2003 and FY 2004 3.54% FY 2005 3.75% FY 2006 4.0% ENGR.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, 3.5% FY 2022 5.0% FY 2023 through FY 2027 5.25% FY 2028 and each fiscal year thereafter 5.0%;

ENR.

1144 Page 3123 RBS No.

3869 FYc. 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%;

c.

except as otherwise provided in subparagraph b of this paragraph, for the fiscal year beginning July 1, 2015, and for each fiscal year thereafter, eighty-seven one- ENGR.hundredths percent (0.87%) shall be paid to the State Treasurer to be further apportioned as follows:

S.

B.

NO.

1144 Page 32 RBS No.

3869 hundredths percent (0.87%) shall be paid to the State Treasurer to be further apportioned as follows:

Any ENGR.amounts which exceed the limitations of this paragraph shall be placed to the credit of the General Revenue Fund.

ENR.

1144 Page 3324 RBS No.

3869 amountsB. which exceed the limitations of this paragraph shall be placed to the credit of the General Revenue Fund.

B.

and, for that purpose and to that end, it is expressly declared that the revenue derived herefrom and penalties and interest thereon, subject to the apportionment requirements for the Rebuilding Oklahoma Access and Driver Safety Fund, the Oklahoma Tourism and Passenger Rail Revolving Fund, the Public Transit Revolving Fund and the Education Reform Revolving Fund to be derived from income tax revenue that would otherwise be apportioned to the General Revenue Fund as provided by Section 1521 of Title 69 of the Oklahoma Statutes, 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, and ENGR.subject to the apportionment requirements for the Oklahoma State Capitol Building Repair and Restoration Fund provided by Section 19 of Title 73 of the Oklahoma Statutes, shall be distributed as follows:

S.

B.

NO.

1144 Page 34 RBS No.

3869 subject to the apportionment requirements for the Oklahoma State Capitol Building Repair and Restoration Fund provided by Section 19 of Title 73 of the Oklahoma Statutes, shall be distributed as follows:

(1) Until the conditions of subparagraph e of this paragraph have been met, the following amounts shallENR. be paid to the State Treasurer to be placed to the credit of the General Revenue Fund of the state for such fiscal year for the support of the state government to be paid out only pursuant to appropriation by the Legislature:

Fiscal Year Amount FY 2003 and FY 2004 87.12% FY 2005 86.91% FY 2006 86.66% FY 2007 86.16% FY 2008 through FY 2022 85.66% ENGR.

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3869 FY 2023 through FY 2027 85.41% FY 2028 and each fiscal year thereafter 85.66% Of the funds apportioned to the General Revenue Fund pursuant to this subparagraph division, until the expiration of the Filmed in Oklahoma Act of 2021 as provided in Section 11 3641 of this act title, Thirty Million Dollars ($30,000,000.00) shall be transferred to the Oklahoma Tax Commission for deposit in the Filmed in Oklahoma Program Revolving Fund, and (2) After such conditions of subparagraph e of this paragraph have been met, the following amounts shall be paid to the State Treasurer to be placed to the credit of the General Revenue Fund of the state for such fiscal year for the support of the state government to be paid out only pursuant to appropriation by the Legislature:

Fiscal Year Amount FY 2003 and FY 2004 87.12% FY 2005 86.91% FY 2006 86.66% FY 2007 86.16% FY 2008 through FY 2022 85.66% ENGR.FY 2023 through FY 2027 85.41% FY 2028 and each fiscal year thereafter 85.66% Of the funds apportioned to the General Revenue Fund pursuant to this subparagraph division, until the expiration of the Filmed in Oklahoma Act of 2021 as provided in Section 11 3641 of this act title, Thirty Million Dollars ($30,000,000.00) shall be transferred to the Oklahoma Tax Commission for deposit in the Filmed in Oklahoma Program Revolving Fund, and (2) After such conditions of subparagraph e of this paragraph have been met, the following amounts shall be paid to the State Treasurer to be placed to the credit of the General Revenue Fund of the state for such fiscal year for the support of the state government to be paid out only pursuant to appropriation by the Legislature:

Fiscal Year Amount ENR.

1144 Page 3626 RBS No.

3869 FY 2003 and FY 2004 87.12% FY 2005 86.91% FY 2006 86.66% FY 2007 86.16% FY 2008 through FY 2022 85.66% FY 2023 through FY 2027 85.41% FY 2028 and each fiscal year thereafter 90.66% Of the funds apportioned to the General Revenue Fund pursuant to this division, until the expiration of the Filmed in Oklahoma Act of 2021 as provided in Section 3641 of this title, Thirty Million Dollars ($30,000,000.00) shall be transferred to the Oklahoma Tax Commission for deposit in the Filmed in Oklahoma Program Revolving Fund.

(a) for the month beginning July 1, 2020, through the month ending August 31, 2020, eight and thirty-four one-hundredths percent (8.34%), and (b)ENR. for the month beginning September 1, 2020, through the month ending June 30, 2021, nine ENGR.

1144 Page 3727 RBS No.

3869 (b) for the month beginning September 1, 2020, through the month ending June 30, 2021, nine and eighty-four one-hundredths percent (9.84%), (3) for FY 2022 and each fiscal year thereafter, eight and thirty-four one-hundredths percent (8.34%) shall be paid to the State Treasurer to be placed to the credit of the Education Reform Revolving Fund, c.

(1) for the month beginning July 1, 2020, through the month ending August 31, 2020 5.0% ENGR.(2) for the month beginning September 1, 2020, through the month ending June 30, 2021 3.5% FY 2022 5.0% ENR.

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3869 (2) 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% d.

Beginning July 1, 2003, for any period of time as certified by the Oklahoma Development Finance Authority and the Oklahoma Department of Commerce to be necessary for the repayment of obligations issued by the Oklahoma Development Finance Authority pursuant to Section 3654 of this title if the other sources of ENGR.revenue paid to or apportioned to the Quality Jobs Program Incentive Leverage Fund are not adequate including the proceeds from payment pursuant to the guaranty required by subsection M of Section 3654 of this title, an amount certified by the Oklahoma Development Finance Authority to the Oklahoma Tax Commission shall be apportioned to the Quality Jobs Program Incentive Leverage Fund before any other apportionments are made as otherwise authorized by this paragraph.

S.

B.

NO.

1144 Page 39 RBS No.

3869 revenue paid to or apportioned to the Quality Jobs Program Incentive Leverage Fund are not adequate including the proceeds from payment pursuant to the guaranty required by subsection M of Section 3654 of this title, an amount certified by the Oklahoma Development Finance Authority to the Oklahoma Tax Commission shall be apportioned to the Quality Jobs Program Incentive Leverage Fund before any other apportionments are made as otherwise authorized by this paragraph.

The remainder of such revenue for the fiscal yearENR. beginning July 1, 2002, and all such revenue for each fiscal year thereafter, 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 monthly as follows:

ENGR.

1144 Page 4029 RBS No.

3869 a.year beginning July 1, 2002, and all such revenue for each fiscal year thereafter, 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 monthly as follows:

a.

Fiscal Year Amount FY 2003 and FY 2004 78.96% FY 2005 78.75% FY 2006 78.50% FY 2007 78.0% (1) (a) FY 2018 through FY 2022 until the apportionment to the General Revenue Fund equals the moving five- year average amount for corporate income tax as prescribed by paragraph 3 of this section 77.50% (b) FY 2023 through FY 2027 until the apportionment to the General Revenue Fund equals the moving five- ENGR.year average amount for corporate income tax as prescribed by paragraph 3 of this section 77.25% ENR.

1144 Page 4130 RBS No.

3869 year average amount for corporate income tax as prescribed by paragraph 3 of this section 77.25% (c) FY 2028 and each fiscal year thereafter until the apportionment to the General Revenue Fund equals the moving five- year average amount for corporate income tax as prescribed by paragraph 3 of this section 77.50% (2) after such conditions of subparagraph e of this paragraph have been met, the following amounts shall be paid to the State Treasurer to be placed to the credit of the General Revenue Fund of the state for such fiscal year for the support of the state government to be paid out only pursuant to appropriation by the Legislature:

Fiscal Year Amount FY 2003 and FY 2004 78.96% FY 2005 78.75% FY 2006 78.50% ENGR.FY 2007 78.0% (a) FY 2018 through FY 2022 until the apportionment to the General Revenue Fund equals the moving five-year average amount for corporate income tax as prescribed by paragraph 3 of this section 77.50% (b) FY 2023 through FY 2027 until the apportionment to the General Revenue Fund equals the moving five- year average amount for corporate income tax as prescribed by paragraph 3 of this section 82.25% ENR.

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3869 (c) FY 20072028 78.0%and (a)each FYfiscal 2018year throughthereafter FY 2022 until the apportionment to the General Revenue Fund equals the moving five-yearfive- year average amount for corporate income tax as prescribed by paragraph 3 of this section 77.50%82.50% (b)(3) FYthere 2023shall throughbe FYapportioned 2027from until the apportionmenttax levy imposed on corporate income tax to the General Revenue Stabilization Fund equalscreated theby movingSection five-34.102 yearof averageTitle amount62 forof corporatethe incomeOklahoma taxStatutes, asor prescribedto bythe paragraphConstitutional 3Reserve ofFund, thisas sectionprovided 82.25%by (c)Section FY34.102 2028of andTitle each62 fiscalof yearthe thereafterOklahoma untilStatutes, the apportionmentamount toof therevenue, Generalif Revenueany, Fundwhich equalsexceeds the moving five-five-year year average amount for corporate income tax as prescribeddefined bypursuant to paragraph 3 of this sectionsection, 82.50%b. ENGR.

S.

B.

NO.

1144 Page 43 RBS No.

3869 (3) there shall be apportioned from the tax levy imposed on corporate income tax to the Revenue Stabilization Fund created by Section 34.102 of Title 62 of the Oklahoma Statutes, or to the Constitutional Reserve Fund, as provided by Section 34.102 of Title 62 of the Oklahoma Statutes, the amount of revenue, if any, which exceeds the moving five-year average amount as defined pursuant to paragraph 3 of this section, b.

(a) for the month beginning July 1, 2020, through the month ending August 31, 2020, sixteen and five-tenths percent (16.5%), and (b) for the month beginning September 1, 2020, through the month ending June 30, 2021, eighteen percent (18%), (3) for FY 2022, and each fiscal year thereafter, sixteen and five-tenths percent (16.5%), ENGR.ENR.

1144 Page 4432 RBS No.

(1) for the month beginning July 1, 2020, through the month ending August 31, 2020 5.0% (2) 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% ENGR.d.

for FY 2003 and each fiscal year thereafter, one percent (1%) shall be placed to the credit of the Ad Valorem Reimbursement Fund, ENR.

1144 Page 4533 RBS No.

3869 d.e.

for FY 2003 and each fiscal year thereafter, one percent (1%) shall be placed to the credit of the Ad Valorem Reimbursement Fund, e.

ENGR.1.

S.

B.

NO.

1144 Page 46 RBS No.

3869 1.

PassedENR. the Senate the 14th day of April, 2026.

Presiding Officer of the Senate Passed the House of Representatives the ____ day of __________, 2026.

Presiding Officer of the House of Representatives ENGR.

1144 Page 4734 RBS No.

3869 Passed the Senate the 14th day of April, 2026.

Presiding Officer of the Senate Passed the House of Representatives the 16th day of April, 2026.

Presiding Officer of the House of Representatives OFFICE OF THE GOVERNOR Received by the Office of the Governor this ____________________ day of ___________________, 20_______, at _______ o'clock _______ M.

By:

_________________________________ Approved by the Governor of the State of Oklahoma this _________ day of ___________________, 20_______, at _______ o'clock _______ M.

_________________________________ Governor of the State of Oklahoma OFFICE OF THE SECRETARY OF STATE Received by the Office of the Secretary of State this __________ day of __________________, 20 _______, at _______ o'clock _______ M.

By:

_________________________________ ENR.

S.

B.

NO.

1144 Page 35