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§68-1353.


§68-1353.
   
   Purpose of Article - Apportionment of Revenues.
   
   It is hereby declared to be the purpose of the Oklahoma Sales Tax Code
   to provide funds for the financing of the program provided for by the
   Oklahoma Social Security Act and to provide revenues for the support
   of the functions of the state government of Oklahoma, and for this
   purpose it is hereby expressly provided that, for the fiscal year
   beginning July 1, 1999, and for each fiscal year thereafter, revenues
   derived pursuant to the provisions of the Oklahoma Sales Tax Code
   shall be apportioned as follows:
   
   1. Eighty-six and four one-hundredths percent (86.04%) shall be paid
   to the State Treasurer to be placed to the credit of the General
   Revenue Fund to be paid out pursuant to direct appropriation by the
   Legislature;
   
   2. Ten and forty-two one-hundredths percent (10.42%) shall be paid to
   the State Treasurer to be placed to the credit of the Education Reform
   Revolving Fund of the State Department of Education; and
   
   3. Three and fifty-four one-hundredths percent (3.54%) shall be paid
   to the State Treasurer to be placed to the credit of the Teachers'
   Retirement System Dedicated Revenue Revolving Fund; provided, when the
   total deposits to such Fund from all sources exceed One Hundred
   Thirty-six Million Dollars ($136,000,000.00) for the fiscal year
   beginning July 1, 1999, any funds received in the fiscal year
   beginning July 1, 1999, in excess of such amount shall be paid to the
   State Treasurer to be placed to the credit of the General Revenue
   Fund.
   

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