{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-118","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-118","heading":"Written estimate of revenue gain or loss and written","body":"statement of recommendation as to proposed or actual tax law changes\n\n- Annual forecast of gross production tax revenues.\n\nA. Upon receipt of a written request from a member or employee\n\nof the Legislature, the Oklahoma Tax Commission shall provide:\n\n1. A written estimate of the revenue gain or loss to the state\n\nas a result of an actual or proposed change to any state tax law\n\nwithin the implementation, enforcement and collection duties and\n\nresponsibilities of the Tax Commission; provided, upon request of a\n\nlegislative member or staff, Service Oklahoma shall be responsible\n\nfor furnishing written estimates of revenue gains or losses\n\nattributable to current or proposed amendments to any state law\n\nunder its statutorily assigned functions and responsibilities;\n\n2. A written statement of the Tax Commission's recommendation\n\nto the State Board of Equalization as to the change in the amount\n\ncertified as available for appropriation by the Legislature as a\n\nresult of an actual or proposed change to a state tax law; and\n\n3. A written statement outlining all analysis and methodology\n\nprovided by or made available by the Tax Commission to the State\n\nBoard of Equalization for the purpose of influencing or serving as\n\nthe basis for an official action of the State Board of Equalization.\n\nThe Tax Commission shall provide such estimate and statement\n\nwithin two (2) weeks of the date the request was received unless the\n\nmember or employee of the Legislature specifies an earlier date.\n\nB. On or after December 31, 2009, and subject to the\n\navailability of funds, the Tax Commission shall develop the\n\nestimates and statements required by subsection A of this section\n\nutilizing a dynamic revenue estimating model. Such model shall take\n\ninto consideration changes in economic activity as a result of the\n\nproposed legislation and consequent revenue gains or losses due to\n\nfactors such as taxpayer behavior, employment and business\n\ninvestment. The Tax Commission may, subject to the laws of this\n\nstate relating to confidentiality of information, contract with\n\ninstitutions of higher education in this state or other entities to\n\nperform its duties as set forth in this subsection. The Tax\n\nCommission is authorized to promulgate rules to carry out the\n\nimplementation of this section.\n\nC. For the purpose of providing an annual forecast of gross\n\nproduction tax revenues from the production of natural and\n\ncasinghead gas to the Office of Management and Enterprise Services,\n\nthe Tax Commission shall subscribe to appropriate reference\n\nmaterials which provide economic outlook of future gas prices that\n\nhave most closely followed the historical trend of Oklahoma gas\n\nprices. To determine the average differential between the published\n\nforecasted prices and Oklahoma gas prices, the Tax Commission shall\n\ncompare prices in at least twenty-four (24) of the immediate thirty-\n\nsix (36) previous months of production. The Tax Commission shall\n\nutilize the procedures provided herein to forecast the collection of\n\ngross production tax revenues from the production of natural and\n\ncasinghead gas for the fiscal year beginning July 1, 2005, and each\n\nfiscal year thereafter.","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":"e930c7273d2a7e5efdc9c255015ae598a9757ccfaa93f43f077465bec100425c","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-117","next":"us-ok/okla.-stat.-tit.-68-68-119"},"notice":"GroundRules: Original legal text. Not legal advice."}