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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.
   

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