[Previous] [Next]
§68-1103.
§68-1103.
A. 1. Prior to July 1, 2001 and as provided in Section 1103.1 of this
title, all monies derived from the levy of the excise tax on petroleum
oil provided for by Section 1101 of this title shall be deposited with
the State Treasurer, who shall credit and apportion the same as
follows:
a. eighty-four and five hundred fifty-three thousandths percent
(84.553%) of said excise tax shall be credited to the General Revenue
Fund of the State Treasury;
b. ten and five hundred twenty-six thousandths percent (10.526%) shall
be credited and apportioned to a separate and distinct fund to be
known as the "Corporation Commission Plugging Fund"; and
c. the remaining four and nine hundred twenty-one thousandths percent
(4.921%) of said excise tax shall be credited and apportioned to a
separate and distinct fund to be known as "The Interstate Oil Compact
Fund of Oklahoma", which fund is hereby created.
2. Prior to July 1, 2001 and as provided in Section 1103.1 of this
title, all monies derived from the levy of the excise tax on natural
gas and/or casinghead gas provided for by Section 1102 of this title
shall be deposited with the State Treasurer, who shall credit and
apportion the same as follows:
a. eighty-five and four thousand sixty-six ten thousandths percent
(85.4066%) of said excise tax shall be credited to the General Revenue
Fund of the State Treasury;
b. ten and five thousand five hundred fifty-five ten thousandths
percent (10.5555%) shall be credited and apportioned to the
Corporation Commission Plugging Fund; and
c. four and three hundred seventy-nine ten thousandths percent
(4.0379%) of said excise tax shall be credited and apportioned to The
Interstate Oil Compact Fund of Oklahoma.
3. Prior to July 1, 2001 and as provided in Section 1103.1 of this
title, all monies to accrue to "The Interstate Oil Compact Fund of
Oklahoma" under the provisions of this article, together with all
monies remaining unexpended in "The Interstate Oil Compact Fund of
Oklahoma" created under this subsection are hereby appropriated and
shall be used for the payment of the compensation of the assistant
representative of the State of Oklahoma on "The Interstate Oil Compact
Commission", the compensation of such clerical, technical, and legal
assistants as he or she may with the consent of the Governor employ;
the actual and necessary traveling expenses of said assistant
representative and employees, and of the Governor when traveling in
his or her capacity as official representative of the State of
Oklahoma on "The Interstate Oil Compact Commission"; all items of
office expense, including the cost of office supplies and equipment;
such contributions as the Governor shall deem necessary and proper to
pay to "The Interstate Oil Compact Commission" to defray its expenses;
and such other necessary expenses as may be incurred in enabling the
State of Oklahoma to fully cooperate in accomplishing the objects of
the Interstate Compact to conserve oil and gas. Said fund shall be
disbursed by the State Treasurer upon sworn, itemized claims approved
by the assistant representative and the Governor; provided, that if at
the end of any fiscal year any part of said special fund shall remain
unexpended, such balance shall be transferred by the State Treasurer
to, and become a part of, the General Revenue Fund of the state for
the ensuing fiscal year. Provided, further, that if the State of
Oklahoma withdraws from the Interstate Compact to conserve oil and
gas, any unencumbered monies in "The Interstate Oil Compact Fund of
Oklahoma" shall be transferred to and become a part of the General
Revenue Fund of the State Treasury and thereafter the excise tax on
petroleum oil, natural gas and/or casinghead gas levied by this
article shall be levied, collected and deposited in the General
Revenue Fund of the State Treasury.
4. All monies to accrue to the Corporation Commission Plugging Fund
are hereby appropriated and shall be used for payment of expenses
related to the statutory purpose of said fund.
The provisions of this subsection shall terminate on June 30, 2001.
B. 1. Beginning on July 1, 2001, all monies derived from the levy of
the excise tax on petroleum oil provided for by Section 1101 of this
Code shall be deposited with the State Treasurer, who shall credit and
apportion the same as follows: ninety-four and five tenths percent
(94.5%) of said excise tax shall be credited and apportioned to the
General Revenue Fund of the State Treasury, and the remaining five and
five-tenths percent (5.5%) of said excise tax shall be credited and
apportioned to a separate and distinct fund to be known as "The
Interstate Oil Compact Fund of Oklahoma", which fund is hereby
created.
2. Beginning on July 1, 2001, all monies derived from the levy of the
excise tax on natural gas and/or casinghead gas provided for by
Section 1102 of this Code shall be deposited with the State Treasurer,
who shall credit and apportion the same as follows: twenty-one
twenty-seconds (21/22) of said excise tax shall be credited and
apportioned to the General Revenue Fund of the State Treasury, and one
twenty-second (1/22) of said excise tax shall be credited and
apportioned to The Interstate Oil Compact Fund of Oklahoma.
3. Beginning on July 1, 2001, all monies to accrue to "The Interstate
Oil Compact Fund of Oklahoma" under the provisions of this article,
together with all monies remaining unexpended in "The Interstate Oil
Compact Fund of Oklahoma" created under this subsection are hereby
appropriated and shall be used for the payment of the compensation of
the assistant representative of the State of Oklahoma on "The
Interstate Oil Compact Commission", the compensation of such clerical,
technical, and legal assistants as he or she may with the consent of
the Governor employ; the actual and necessary traveling expenses of
said assistant representative and employees, and of the Governor when
traveling in his or her capacity as official representative of the
State of Oklahoma on "The Interstate Oil Compact Commission"; all
items of office expense, including the cost of office supplies and
equipment; such contributions as the Governor shall deem necessary and
proper to pay to "The Interstate Oil Compact Commission" to defray its
expenses; and such other necessary expenses as may be incurred in
enabling the State of Oklahoma to fully cooperate in accomplishing the
objects of the Interstate Compact to conserve oil and gas. Said fund
shall be disbursed by the State Treasurer upon sworn, itemized claims
approved by the assistant representative and the Governor; provided,
that if at the end of any fiscal year any part of said special fund
shall remain unexpended, such balance shall be transferred by the
State Treasurer to, and become a part of, the General Revenue Fund of
the State Treasury for the ensuing fiscal year. Provided, further,
that if the State of Oklahoma withdraws from the Interstate Compact to
conserve oil and gas, any unencumbered monies in "The Interstate Oil
Compact Fund of Oklahoma" shall be transferred to and become a part of
the General Revenue Fund of the State Treasury and thereafter the
excise tax on petroleum oil, natural gas and/or casinghead gas levied
by this article shall be levied, collected and deposited in the
General Revenue Fund of the State Treasury.
[Previous] [Next]