{"data":{"id":"us-ok/okla.-stat.-tit.-17-17-180.10","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 17, § 17-180.10","heading":"Corporation Commission Plugging Fund - Minimum","body":"maintenance level - Additional excise tax.\n\nA. There is hereby created in the State Treasury a fund for the\n\nCorporation Commission to be designated the “Corporation Commission\n\nPlugging Fund”. The plugging fund shall consist of monies received\n\nby the Corporation Commission as required by law to be deposited to\n\nthe credit of the fund. The fund shall be a continuing fund not\n\nsubject to fiscal year limitations and shall not be subject to\n\nlegislative appropriations. Expenditures from the plugging fund\n\nshall be made pursuant to the laws of this state and the statutes\n\nrelating to the Corporation Commission. For each fiscal year, the\n\nCommission may expend not more than eight percent (8%) of the total\n\namount deposited to the credit of the plugging fund during the\n\nprevious fiscal year for the purpose of responding to occurrences of\n\nseeping natural gas as provided for in Section 317.1 of Title 52 of\n\nthe Oklahoma Statutes. In addition, expenditures from the plugging\n\nfund may be made pursuant to the Oklahoma Central Purchasing Act,\n\nSection 85.1 et seq. of Title 74 of the Oklahoma Statutes, for\n\npurposes of immediately responding to emergency situations, within\n\nthe Commission’s jurisdiction, having potentially critical\n\nenvironmental or public safety impact. Warrants for expenditures\n\nfrom the fund shall be drawn by the State Treasurer, based on claims\n\nsigned by an authorized employee of the Corporation Commission and\n\napproved for payment by the Director of the Office of Management and\n\nEnterprise Services. The provisions of this act or rules\n\npromulgated pursuant thereto shall not be construed to relieve or in\n\nany way diminish the surety bonding requirements required by Section\n\n318.1 of Title 52 of the Oklahoma Statutes.\n\nB. Prior to July 1, 2031, the plugging fund shall be maintained\n\nat Five Million Dollars ($5,000,000.00). If the plugging fund falls\n\nbelow the five-million-dollar maintenance level, the Corporation\n\nCommission shall notify the Oklahoma Tax Commission that the\n\nplugging fund has fallen below the required maintenance level and\n\nthat the excise tax which has been levied by subsection A of Section\n\n1101 of Title 68 of the Oklahoma Statutes and subsection A of\n\nSection 1102 of Title 68 of the Oklahoma Statutes which is credited\n\nand apportioned to the Corporation Commission Plugging Fund pursuant\n\nto Section 1103 of Title 68 of the Oklahoma Statutes is to be\n\nimposed. Such additional excise tax shall be imposed and collected\n\nuntil such time as is necessary to meet the additional five-million-\n\ndollar maintenance level. The Tax Commission shall notify the\n\npersons responsible for payment of the excise tax on oil and gas of\n\nthe imposition of such tax. The provisions of this subsection shall\n\nterminate on July 1, 2031.","path":["OK Code","Title 17"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os17.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"8e391eb1e12c10438d9d0d2de8493a1385e4781351988ac9dd084e87298b0b89","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-17-17-180.1","next":"us-ok/okla.-stat.-tit.-17-17-180.11"},"notice":"GroundRules: Original legal text. Not legal advice."}