A. It is hereby declared to be the purpose of Section 1401 et seq. of this title to provide for the support of the functions of the state and local government of Oklahoma; and for this purpose and to this end, it is hereby expressly provided that the revenues derived hereunder, subject to the apportionment provided in subsection B of this section and 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, are hereby apportioned as follows:
1. The following amounts shall be paid by the Tax Commission to the State Treasurer and placed to the credit of the General Revenue Fund to be paid out pursuant to direct appropriation by the Legislature:
Fiscal YearAmount
FY 200485.35%
FY 200585.14%
FY 200685.54%
FY 200785.04%
FY 2008 through FY 202283.61%
FY 2023 through FY 202783.36%
FY 2028 and each fiscal year thereafter83.61%;
2. The following amounts shall be paid to the State Treasurer to be placed to the credit of the Education Reform Revolving Fund of the State Department of Education:
3. The following amounts shall be paid to the State Treasurer to be placed to the credit of the Teachers' Retirement System Dedicated Revenue Revolving Fund:
Fiscal YearAmount
FY 2003 and FY 20043.54%
FY 20053.75%
FY 20064.0%
FY 20074.5%
FY 2008 through FY 20205.0%
FY 2021:
a.for the month beginning July 1, 2020, through the month ending August 31, 20205.0%
b.for the month beginning September 1, 2020, through the month ending June 30, 20213.5%
FY 20225.0%
FY 2023 through FY 20275.25%
FY 2028 and each fiscal year thereafter5.0%;
4. a.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-hundredths percent (0.87%) shall be paid to the State Treasurer to be further apportioned as follows:
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. Prior to the apportionments otherwise provided in this section, there shall be apportioned to the Education Reform Revolving Fund of the State Department of Education the following amounts in the following state fiscal years:
FY 2019$19,600,000.00; and
FY 2020 and each year thereafter$20,500,000.00.
Added by Laws 1963, c. 368, § 2, emerg. eff. June 18, 1963. Renumbered from § 14-1403 of this title by Laws 1965, c. 215, § 2. Amended by Laws 1977, c. 113, § 2, eff. July 1, 1977; Laws 1996, c. 269, § 4, eff. June 1, 1996; Laws 1999, c. 254, § 9, eff. June 30, 1999; Laws 2002, c. 482, § 2, eff. July 1, 2002; Laws 2003, c. 3, § 65, emerg. eff. March 19, 2003; Laws 2005, c. 479, § 15, eff. July 1, 2005; Laws 2006, 2nd Ex. Sess., c. 44, § 18, eff. July 1, 2007; Laws 2007, c. 105, § 4, eff. Nov. 1, 2007; Laws 2007, c. 366, § 4, eff. Nov. 1, 2007; Laws 2008, c. 278, § 9, eff. July 1, 2008; Laws 2010, c. 466, § 2, eff. July 1, 2010; Laws 2012, c. 304, § 542; Laws 2015, c. 349, § 2, eff. July 1, 2015; Laws 2018, 2nd Ex. Sess., c. 17, § 9, emerg. eff. April 10, 2018; Laws 2020, c. 15, § 2, eff. Sept. 1, 2020; Laws 2021, c. 490, § 1, eff. July 1, 2021.
NOTE: Laws 2002, c. 458, § 8 repealed by Laws 2003, c. 3, § 66, emerg. eff. March 19, 2003.