{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-1103","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-1103","heading":"Deposit, apportionment and use of proceeds of tax","body":"A. 1. Prior to July 1, 2026, and as provided in Section 1103.1\n\nof this title, all monies derived from the levy of the excise tax on\n\npetroleum oil provided for by Section 1101 of this title shall be\n\ndeposited with the State Treasurer, who shall credit and apportion\n\nthe same as follows:\n\na. eighty-two and six hundred thirty-four thousandths\n\npercent (82.634%) of said excise tax shall be credited\n\nto the General Revenue Fund of the State Treasury;\n\nprovided, in each fiscal year beginning on or after\n\nJuly 1, 2013, the first One Million Three Hundred\n\nFifty Thousand Dollars ($1,350,000.00) which would\n\notherwise have been apportioned to the General Revenue\n\nFund pursuant to this subparagraph shall be\n\ntransferred to the Oil and Gas Division Revolving Fund\n\nof the Oklahoma Corporation Commission,\n\nb. ten and five hundred twenty-six thousandths percent\n\n(10.526%) shall be credited and apportioned to a\n\nseparate and distinct fund to be known as the\n\n\"Corporation Commission Plugging Fund\", and\n\nc. the remaining six and eighty-four hundredths percent\n\n(6.84%) of said excise tax shall be credited and\n\napportioned to a separate and distinct fund to be\n\nknown as \"The Interstate Oil Compact Fund of\n\nOklahoma\", which fund is hereby created.\n\n2. Prior to July 1, 2026, and as provided in Section 1103.1 of\n\nthis title, all monies derived from the levy of the excise tax on\n\nnatural gas and/or casinghead gas provided for by Section 1102 of\n\nthis title shall be deposited with the State Treasurer, who shall\n\ncredit and apportion the same as follows:\n\na. eighty-two and six thousand forty-five ten thousandths\n\npercent (82.6045%) of said excise tax shall be\n\ncredited to the General Revenue Fund of the State\n\nTreasury; provided, in each fiscal year beginning on\n\nor after July 1, 2013, the first One Million Three\n\nHundred Fifty Thousand Dollars ($1,350,000.00) which\n\nwould otherwise have been apportioned to the General\n\nRevenue Fund pursuant to this subparagraph shall be\n\ntransferred to the Oil and Gas Division Revolving Fund\n\nof the Oklahoma Corporation Commission,\n\nb. ten and five thousand five hundred fifty-five ten\n\nthousandths percent (10.5555%) shall be credited and\n\napportioned to the Corporation Commission Plugging\n\nFund, and\n\nc. six and eighty-four hundredths percent (6.84%) of said\n\nexcise tax shall be credited and apportioned to The\n\nInterstate Oil Compact Fund of Oklahoma.\n\n3. Prior to July 1, 2026, and as provided in Section 1103.1 of\n\nthis title, all monies to accrue to The Interstate Oil Compact Fund\n\nof Oklahoma under the provisions of this article, together with all\n\nmonies remaining unexpended in The Interstate Oil Compact Fund of\n\nOklahoma created under this subsection are hereby appropriated and\n\nshall be used for the payment of the compensation of the assistant\n\nrepresentative of the State of Oklahoma on The Interstate Oil\n\nCompact Commission, the compensation of such clerical, technical and\n\nlegal assistants as he or she may with the consent of the Governor\n\nemploy; the actual and necessary traveling expenses of the assistant\n\nrepresentative and employees, and of the Governor when traveling in\n\nthe Governor's capacity as official representative of the State of\n\nOklahoma on The Interstate Oil Compact Commission; all items of\n\noffice expense including the cost of office supplies and equipment;\n\nsuch contributions as the Governor shall deem necessary and proper\n\nto pay to The Interstate Oil Compact Commission to defray its\n\nexpenses; and such other necessary expenses as may be incurred in\n\nenabling the State of Oklahoma to fully cooperate in accomplishing\n\nthe objects of the Interstate Compact to conserve oil and gas. The\n\nfund shall be disbursed by the State Treasurer upon sworn, itemized\n\nclaims approved by the assistant representative and the Governor;\n\nprovided, that if at the end of any fiscal year any part of the\npenses; and such other necessary expenses as may be incurred in\n\nenabling the State of Oklahoma to fully cooperate in accomplishing\n\nthe objects of the Interstate Compact to conserve oil and gas. The\n\nfund shall be disbursed by the State Treasurer upon sworn, itemized\n\nclaims approved by the assistant representative and the Governor;\n\nprovided, that if at the end of any fiscal year any part of the\n\nspecial fund shall remain unexpended, such balance shall be\n\ntransferred by the State Treasurer to, and become a part of, the\n\nGeneral Revenue Fund of the state for the ensuing fiscal year.\n\nProvided, further, that if the State of Oklahoma withdraws from the\n\nInterstate Compact to conserve oil and gas, any unencumbered monies\n\nin The Interstate Oil Compact Fund of Oklahoma shall be transferred\n\nto and become a part of the General Revenue Fund of the State\n\nTreasury and thereafter the excise tax on petroleum oil, natural gas\n\nand/or casinghead gas levied by this article shall be levied,\n\ncollected and deposited in the General Revenue Fund of the State\n\nTreasury.\n\n4. All monies to accrue to the Corporation Commission Plugging\n\nFund are hereby appropriated and shall be used for payment of\n\nexpenses related to the statutory purpose of the fund.\n\nThe provisions of this subsection shall terminate on June 30,\n\n2026.\n\nB. 1. Beginning on July 1, 2026, all monies derived from the\n\nlevy of the excise tax on petroleum oil provided for by Section 1101\n\nof this title shall be deposited with the State Treasurer, who shall\n\ncredit and apportion the same as follows:\n\na. ninety-two and thirty-five hundredths percent (92.35%)\n\nof said excise tax shall be credited and apportioned\n\nto the General Revenue Fund of the State Treasury;\n\nprovided, in each fiscal year beginning on or after\n\nJuly 1, 2013, the first One Million Three Hundred\n\nFifty Thousand Dollars ($1,350,000.00) which would\n\notherwise have been apportioned to the General Revenue\n\nFund pursuant to this subparagraph shall be\n\ntransferred to the Oil and Gas Division Revolving Fund\n\nof the Oklahoma Corporation Commission, and\n\nb. the remaining seven and sixty-five hundredths percent\n\n(7.65%) of said excise tax shall be credited and\n\napportioned to a separate and distinct fund to be\n\nknown as \"The Interstate Oil Compact Fund of\n\nOklahoma\", which fund is hereby created.\n\n2. Beginning on July 1, 2026, all monies derived from the levy\n\nof the excise tax on natural gas and/or casinghead gas provided for\n\nby Section 1102 of this title shall be deposited with the State\n\nTreasurer, who shall credit and apportion the same as follows:\n\na. ninety-two and thirty-five hundredths percent (92.35%)\n\nof said excise tax shall be credited and apportioned\n\nto the General Revenue Fund of the State Treasury;\n\nprovided, in each fiscal year beginning on or after\n\nJuly 1, 2013, the first One Million Three Hundred\n\nFifty Thousand Dollars ($1,350,000.00) which would\n\notherwise have been apportioned to the General Revenue\n\nFund pursuant to this subparagraph shall be\n\ntransferred to the Oil and Gas Division Revolving Fund\n\nof the Oklahoma Corporation Commission, and\n\nb. seven and sixty-five hundredths percent (7.65%) of\n\nsaid excise tax shall be credited and apportioned to\n\nThe Interstate Oil Compact Fund of Oklahoma.\n\n3. Beginning on July 1, 2026, all monies to accrue to The\n\nInterstate Oil Compact Fund of Oklahoma under the provisions of this\n\narticle, together with all monies remaining unexpended in The\n\nInterstate Oil Compact Fund of Oklahoma created under this\n\nsubsection are hereby appropriated and shall be used for the payment\n\nof the compensation of the assistant representative of the State of\n\nOklahoma on The Interstate Oil Compact Commission, the compensation\n\nof such clerical, technical and legal assistants as he or she may\n\nwith the consent of the Governor employ; the actual and necessary\nInterstate Oil Compact Fund of Oklahoma created under this\n\nsubsection are hereby appropriated and shall be used for the payment\n\nof the compensation of the assistant representative of the State of\n\nOklahoma on The Interstate Oil Compact Commission, the compensation\n\nof such clerical, technical and legal assistants as he or she may\n\nwith the consent of the Governor employ; the actual and necessary\n\ntraveling expenses of the assistant representative and employees,\n\nand of the Governor when traveling in the Governor's capacity as\n\nofficial representative of the State of Oklahoma on The Interstate\n\nOil Compact Commission; all items of office expense including the\n\ncost of office supplies and equipment; such contributions as the\n\nGovernor shall deem necessary and proper to pay to The Interstate\n\nOil Compact Commission to defray its expenses; and such other\n\nnecessary expenses as may be incurred in enabling the State of\n\nOklahoma to fully cooperate in accomplishing the objects of the\n\nInterstate Compact to conserve oil and gas. The fund shall be\n\ndisbursed by the State Treasurer upon sworn, itemized claims\n\napproved by the assistant representative and the Governor; provided,\n\nthat if at the end of any fiscal year any part of the special fund\n\nshall remain unexpended, such balance shall be transferred by the\n\nState Treasurer to, and become a part of, the General Revenue Fund\n\nof the State Treasury for the ensuing fiscal year. Provided,\n\nfurther, that if the State of Oklahoma withdraws from the Interstate\n\nCompact to conserve oil and gas, any unencumbered monies in The\n\nInterstate Oil Compact Fund of Oklahoma shall be transferred to and\n\nbecome a part of the General Revenue Fund of the State Treasury and\n\nthereafter the excise tax on petroleum oil, natural gas and/or\n\ncasinghead gas levied by this article shall be levied, collected and\n\ndeposited in the General Revenue Fund of the State Treasury.","path":["OK Code","Title 68"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os68.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"5198475896942db9837eb9e548bcd5ed679c9f47e9ced2328ae730a01b792f4f","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-1102","next":"us-ok/okla.-stat.-tit.-68-68-1103.1"},"notice":"GroundRules: Original legal text. Not legal advice."}