{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-2352","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-2352","heading":"Purpose of article - Distribution of revenues","body":"It is hereby declared to be the purpose of Section 2351 et seq.\n\nof this title to provide revenue for general governmental functions\n\nof state government; and, for that purpose and to that end, it is\n\nexpressly declared that the revenue derived herefrom and penalties\n\nand interest thereon, subject to the apportionment requirements for\n\nthe Rebuilding Oklahoma Access and Driver Safety Fund, the Oklahoma\n\nTourism and Passenger Rail Revolving Fund, the Public Transit\n\nRevolving Fund and the Education Reform Revolving Fund to be derived\n\nfrom income tax revenue that would otherwise be apportioned to the\n\nGeneral Revenue Fund as provided by Section 1521 of Title 69 of the\n\nOklahoma Statutes, subject to the apportionment requirements for the\n\nOklahoma Tax Commission and Office of Management and Enterprise\n\nServices Joint Computer Enhancement Fund provided by Section 265 of\n\nthis title, and subject to the apportionment requirements for the\n\nOklahoma State Capitol Building Repair and Restoration Fund provided\n\nby Section 19 of Title 73 of the Oklahoma Statutes, shall be\n\ndistributed as follows:\n\n1. For the fiscal year beginning July 1, 2002, the first Five\n\nMillion Eight Hundred Thousand Dollars ($5,800,000.00) of revenue\n\nderived pursuant to the provisions of subsections A, B and E of\n\nSection 2355 of this title shall be apportioned to the Education\n\nReform Revolving Fund. The remainder of such revenue for the fiscal\n\nyear beginning July 1, 2002, and all such revenue for each fiscal\n\nyear thereafter shall be apportioned monthly as follows:\n\na. the following amounts shall be paid to the State\n\nTreasurer to be placed to the credit of the General\n\nRevenue Fund of the state for such fiscal year for the\n\nsupport of the state government to be paid out only\n\npursuant to appropriation by the Legislature:\n\nFiscal Year Amount\n\nFY 2003 and FY 2004 87.12%\n\nFY 2005 86.91%\n\nFY 2006 86.66%\n\nFY 2007 86.16%\n\nFY 2008 through FY 2022 85.66%\n\nFY 2023 through FY 2027 85.41%\n\nFY 2028 and each fiscal year thereafter 85.66%\n\nOf the funds apportioned to the General Revenue Fund\n\npursuant to this subparagraph, until the expiration of\n\nthe Filmed in Oklahoma Act of 2021 as provided in\n\nSection 11 of this act, Thirty Million Dollars\n\n($30,000,000.00) shall be transferred to the Oklahoma\n\nTax Commission for deposit in the Filmed in Oklahoma\n\nProgram Revolving Fund,\n\nb. the following amounts shall be paid to the State\n\nTreasurer to be placed to the credit of the Education\n\nReform Revolving Fund of the State Department of\n\nEducation:\n\n(1) for FY 2003 through FY 2020, eight and thirty-\n\nfour one-hundredths percent (8.34%),\n\n(2) for FY 2021:\n\n(a) for the month beginning July 1, 2020,\n\nthrough the month ending August 31, 2020,\n\neight and thirty-four one-hundredths percent\n\n(8.34%), and\nts shall be paid to the State\n\nTreasurer to be placed to the credit of the Education\n\nReform Revolving Fund of the State Department of\n\nEducation:\n\n(1) for FY 2003 through FY 2020, eight and thirty-\n\nfour one-hundredths percent (8.34%),\n\n(2) for FY 2021:\n\n(a) for the month beginning July 1, 2020,\n\nthrough the month ending August 31, 2020,\n\neight and thirty-four one-hundredths percent\n\n(8.34%), and\n\n(b) for the month beginning September 1, 2020,\n\nthrough the month ending June 30, 2021, nine\n\nand eighty-four one-hundredths percent\n\n(9.84%),\n\n(3) for FY 2022 and each fiscal year thereafter,\n\neight and thirty-four one-hundredths percent\n\n(8.34%) shall be paid to the State Treasurer to\n\nbe placed to the credit of the Education Reform\n\nRevolving Fund,\n\nc. the following amounts shall be paid to the State\n\nTreasurer to be placed to the credit of the Teachers'\n\nRetirement System Dedicated Revenue Revolving Fund:\n\nFiscal Year Amount\n\nFY 2003 and FY 2004 3.54%\n\nFY 2005 3.75%\n\nFY 2006 4.0%\n\nFY 2007 4.5%\n\nFY 2008 through FY 2020 5.0%\n\nFY 2021:\n\n(1) for the month beginning\n\nJuly 1, 2020, through\n\nthe month ending August\n\n31, 2020 5.0%\n\n(2) for the month beginning\n\nSeptember 1, 2020,\n\nthrough the month ending\n\nJune 30, 2021 3.5%\n\nFY 2022 5.0%\n\nFY 2023 through FY 2027 5.25%\n\nFY 2028 and each fiscal\n\nyear thereafter 5.0%\n\nd. for FY 2003 and each fiscal year thereafter, one\n\npercent (1%) shall be placed to the credit of the Ad\n\nValorem Reimbursement Fund;\n\n2. Beginning July 1, 2003, for any period of time as certified\n\nby the Oklahoma Development Finance Authority and the Oklahoma\n\nDepartment of Commerce to be necessary for the repayment of\n\nobligations issued by the Oklahoma Development Finance Authority\n\npursuant to Section 3654 of this title if the other sources of\n\nrevenue paid to or apportioned to the Quality Jobs Program Incentive\n\nLeverage Fund are not adequate including the proceeds from payment\n\npursuant to the guaranty required by subsection M of Section 3654 of\n\nthis title, an amount certified by the Oklahoma Development Finance\n\nAuthority to the Oklahoma Tax Commission shall be apportioned to the\n\nQuality Jobs Program Incentive Leverage Fund before any other\n\napportionments are made as otherwise authorized by this paragraph.\n\nThe Oklahoma Development Finance Authority shall certify to the\n\nOklahoma Tax Commission the time as of which the revenue authorized\n\nfor apportionment pursuant to this paragraph is no longer required.\n\nAfter the certification, the revenue derived from the income tax\n\nshall be apportioned in the manner otherwise provided by this\n\nsection. Except as otherwise provided by this paragraph, for the\n\nfiscal year beginning July 1, 2002, the first Forty-one Million One\n\nHundred Ninety Thousand Eight Hundred Dollars ($41,190,800.00) of\n\nrevenue derived pursuant to the provisions of subsections D and E of\n\nSection 2355 of this title shall be apportioned to the Education\n\nReform Revolving Fund. The remainder of such revenue for the fiscal\n\nyear beginning July 1, 2002, and all such revenue for each fiscal\n\nyear thereafter, subject to the apportionment requirements for the\n\nOklahoma Tax Commission and Office of Management and Enterprise\n\nServices Joint Computer Enhancement Fund provided by Section 265 of\n\nthis title, shall be apportioned monthly as follows:\n\na. the following amounts shall be paid to the State\n\nTreasurer to be placed to the credit of the General\n\nRevenue Fund of the state for such fiscal year for the\n\nsupport of the state government to be paid out only\n\npursuant to appropriation by the Legislature:\n\nFiscal Year Amount\n\nFY 2003 and FY 2004 78.96%\n\nFY 2005 78.75%\n\nFY 2006 78.50%\n\nFY 2007 78.0%\n\n(1) (a) FY 2018 through FY 2022\n\nuntil the apportionment to\n\nthe General Revenue Fund\n\nequals the moving five-\n\nyear average amount for\n\ncorporate income tax as\n\nprescribed by paragraph 3\n\nof this section 77.50%\nt of the state government to be paid out only\n\npursuant to appropriation by the Legislature:\n\nFiscal Year Amount\n\nFY 2003 and FY 2004 78.96%\n\nFY 2005 78.75%\n\nFY 2006 78.50%\n\nFY 2007 78.0%\n\n(1) (a) FY 2018 through FY 2022\n\nuntil the apportionment to\n\nthe General Revenue Fund\n\nequals the moving five-\n\nyear average amount for\n\ncorporate income tax as\n\nprescribed by paragraph 3\n\nof this section 77.50%\n\n(b) FY 2023 through FY 2027\n\nuntil the apportionment to\n\nthe General Revenue Fund\n\nequals the moving five-\n\nyear average amount for\n\ncorporate income tax as\n\nprescribed by paragraph 3\n\nof this section 77.25%\n\n(c) FY 2028 and each fiscal\n\nyear thereafter until the\n\napportionment to the\n\nGeneral Revenue Fund\n\nequals the moving five-\n\nyear average amount for\n\ncorporate income tax as\n\nprescribed by paragraph 3\n\nof this section 77.50%\n\n(2) there shall be apportioned from the tax levy\n\nimposed on corporate income tax to the Revenue\n\nStabilization Fund created by Section 34.102 of\n\nTitle 62 of the Oklahoma Statutes, or to the\n\nConstitutional Reserve Fund, as provided by\n\nSection 34.102 of Title 62 of the Oklahoma\n\nStatutes, the amount of revenue, if any, which\n\nexceeds the moving five-year average amount as\n\ndefined pursuant to paragraph 3 of this section,\n\nb. the following amounts shall be paid to the State\n\nTreasurer to be placed to the credit of the Education\n\nReform Revolving Fund of the State Department of\n\nEducation:\n\n(1) for FY 2003 through FY 2020, sixteen and five-\n\ntenths percent (16.5%),\n\n(2) for FY 2021:\n\n(a) for the month beginning July 1, 2020,\n\nthrough the month ending August 31, 2020,\n\nsixteen and five-tenths percent (16.5%), and\n\n(b) for the month beginning September 1, 2020,\n\nthrough the month ending June 30, 2021,\n\neighteen percent (18%),\n\n(3) for FY 2022, and each fiscal year thereafter,\n\nsixteen and five-tenths percent (16.5%),\n\nc. the following amounts shall be paid to the State\n\nTreasurer to be placed to the credit of the Teachers'\n\nRetirement System Dedicated Revenue Revolving Fund:\n\nFiscal Year Amount\n\nFY 2003 and FY 2004 3.54%\n\nFY 2005 3.75%\n\nFY 2006 4.0%\n\nFY 2007 4.5%\n\nFY 2008 through FY 2020 5.0%\n\nFY 2021:\n\n(1) for the month beginning\n\nJuly 1, 2020, through\n\nthe month ending August\n\n31, 2020 5.0%\n\n(2) for the month beginning\n\nSeptember 1, 2020,\n\nthrough the month ending\n\nJune 30, 2021 3.5%\n\nFY 2022 5.0%\n\nFY 2023 through FY 2027 5.25%\n\nFY 2028 and each fiscal\n\nyear thereafter 5.0%\n\nd. for FY 2003 and each fiscal year thereafter, one\n\npercent (1%) shall be placed to the credit of the Ad\n\nValorem Reimbursement Fund; and\n\n3. \"Moving five-year average for corporate income tax\" means,\n\nfor purposes of the apportionments prescribed by this section, the\n\namount of income tax on corporations, as determined by the State\n\nBoard of Equalization in the manner prescribed by Section 34.103 of\n\nTitle 62 of the Oklahoma Statutes.","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":"9e7c366bc6565dc410933e635eb7228682b6364397c7e54369387d29dc293eb9","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-2351","next":"us-ok/okla.-stat.-tit.-68-68-2353"},"notice":"GroundRules: Original legal text. Not legal advice."}