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RBS No. 3869
An Act
ENROLLED SENATE
BILL NO. 1144 By: Hall, Haste, and Pederson
of the Senate
and
Caldwell (Trey), Kane,
Turner, Marti, Dollens,
Wolfley, Manger, Deck,
Menz, and Waldron of the
House
An Act relating to the Teachers’ Retirement System of
Oklahoma; amending 3A O.S. 2021, Section 713, as last
amended by Section 5, Chapter 443, O.S.L. 2024 (3A
O.S. Supp. 2025, Section 713), which relates to the
apportionment of Oklahoma lottery proceeds; ceasing
certain apportionment to the Teachers’ Retirement
System Dedicated Revenue Revolving Fund upon certain
conditions; increasing certain apportionment under
certain conditions; amending 62 O.S. 2021, Section
3103, as last amended by Section 2, Chapter 361,
O.S.L. 2024 (62 O.S. Supp. 2025, Section 3103), which
relates to the Oklahoma Pension Legislation Actuarial
Analysis Act; modifying certain definition; amending
68 O.S. 2021, Sections 1353, as last amended by
Section 4, Chapter 441, O.S.L. 2024, 1403, and 2352
(68 O.S. Supp. 2025, Section 1353), which relate to
the apportionment of tax proceeds; ceasing certain
apportionment to certain fund upon certain
conditions; increasing certain apportionment under
certain conditions; authorizing benefit increase for
certain retired members of the Teachers’ Retirement
System of Oklahoma; updating statutory language;
providing for codification; and providing effective
dates.
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SUBJECT: Teachers’ Retirement System of Oklahoma
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. AMENDATORY 3A O.S. 2021, Section 713, as last
amended by Section 5, Chapter 443, O.S.L. 2024 (3A O.S. Supp. 2025,
Section 713), is amended to read as follows:
Section 713. A. All gross proceeds shall be the property of
the Oklahoma Lottery Commission. From its gross proceeds, the
Commission shall pay the operating expenses of the Commission. At
least forty-five percent (45%) of gross proceeds shall be made
available as prize money. However, the provisions of this
subsection shall be deemed not to create any lien, entitlement,
cause of action, or other private right, and any rights of holders
of tickets or shares shall be determined by the Commission in
setting the terms of its lottery or lotteries.
B. There is hereby created in the State Treasury a fund to be
designated the “Oklahoma Education Lottery Trust Fund”.
Expenditures from the fund shall be made upon warrants issued by the
State Treasurer against claims filed as prescribed by law with the
Director of the Office of Management and Enterprise Services for
approval and payment.
C. Upon their deposit into the State Treasury, any monies
representing a deposit of net proceeds shall then become the
unencumbered property of this state, and neither the Commission nor
the board of trustees shall have the power to agree or undertake
otherwise. The monies shall be invested by the State Treasurer in
accordance with state investment practices. All earnings
attributable to such investments shall likewise be the unencumbered
property of the state and shall accrue to the credit of the fund
provided for in subsection B of this section.
1. The first Sixty-five Million Dollars ($65,000,000.00) of
monies contributed annually to the Oklahoma Education Lottery Trust
Fund shall only be appropriated as follows:
a. forty-five percent (45%) until the conditions of
paragraph 3 of this subsection have been met, and
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after such conditions have been met fifty percent
(50%) for the following:
(1) kindergarten through twelfth grade public
education, including but not limited to
compensation and benefits for public school
teachers and support employees, and
(2) early childhood development programs, which shall
include but not be limited to costs associated
with prekindergarten and full-day kindergarten
programs,
b. forty-five percent (45%) for the following:
(1) tuition grants, loans and scholarships to
citizens of this state to enable such citizens to
attend colleges and universities located within
this state, regardless of whether such colleges
and universities are owned or operated by the
Oklahoma State Regents for Higher Education, or
to attend institutions operated under the
authority of the Oklahoma Department of Career
and Technology Education; provided, such tuition
grants, loans and scholarships shall not be made
to a citizen of this state to attend a college or
university which is not accredited by the
Oklahoma State Regents for Higher Education,
(2) construction of educational facilities for
elementary school districts, independent school
districts, The Oklahoma State System of Higher
Education, and career and technology education,
(3) capital outlay projects for elementary school
districts, independent school districts, The
Oklahoma State System of Higher Education, and
career and technology education,
(4) technology for public elementary school district,
independent school district, state higher
education, and career and technology education
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facilities, which shall include but not be
limited to costs of providing to teachers at
accredited public institutions who teach levels
kindergarten through twelfth grade, personnel at
technology centers under the authority of the
Oklahoma State Department of Career and
Technology Education, and professors and
instructors within The Oklahoma State System of
Higher Education, the necessary training in the
use and application of computers and advanced
electronic instructional technology to implement
interactive learning environments in the
classroom and to access the statewide distance
learning network and costs associated with
repairing and maintaining advanced electronic
instructional technology,
(5) endowed chairs for professors at institutions of
higher education operated by The Oklahoma State
System of Higher Education, and
(6) programs and personnel of the Oklahoma School for
the Deaf and the Oklahoma School for the Blind,
c. five percent (5%) to the School Consolidation
Assistance Fund. When the total amount in the School
Consolidation Assistance Fund from all sources equals
Five Million Dollars ($5,000,000.00), all monies
appropriated pursuant to this subparagraph which would
otherwise be deposited in the School Consolidation
Assistance Fund in excess of Five Million Dollars
($5,000,000.00) shall be allocated by the State
Department of Education to public schools based on the
audited end-of-year average daily membership in grades
8 through 12 during the preceding school year for the
purpose of purchasing technology equipment. If at any
time the total amount in the School Consolidation
Assistance Fund drops below Five Million Dollars
($5,000,000.00), the monies appropriated pursuant to
this subparagraph shall be deposited in the School
Consolidation Assistance Fund until the Fund again
reaches Five Million Dollars ($5,000,000.00), and
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d. subject to the provisions of paragraph 3 of this
subsection, five percent (5%) to the Teachers’
Retirement System Dedicated Revenue Revolving Fund.
In no instance shall the annual maximum percentage for
administrative costs, not including marketing and advertising costs,
funds set aside for prizes, commissions paid to retailers, contract
fees paid to gaming system vendors and instant ticket providers or
emergency-related capital expenses, exceed three percent (3%) of
sales.
2. The remaining portion of lottery annual net proceeds
deposited to the Oklahoma Education Lottery Trust Fund that exceeds
Sixty-five Million Dollars ($65,000,000.00) shall be transferred by
the Office of Management and Enterprise Services to the credit of
the Teacher Empowerment Revolving Fund created in Section 6-190.2 of
Title 70 of the Oklahoma Statutes.
3. All apportionments to the Teachers’ Retirement System
Dedicated Revenue Revolving Fund pursuant to this subsection shall
cease upon the earlier of June 30, 2036, or June 30 of the state
fiscal year in which a determination is made by an actuary employed
or contracted by the Teachers’ Retirement System of Oklahoma that
the System has a funded ratio equal to or greater than one hundred
percent (100%).
D. The Legislature shall appropriate funds from the Oklahoma
Education Lottery Trust Fund only for the purposes specified in
subsection C of this section. Even when funds from the trust fund
are used for these purposes, the Legislature shall not use funds
from the trust fund to supplant or replace other state funds
supporting common education, higher education, or career and
technology education.
E. In order to ensure that the funds from the trust fund are
used to enhance and not supplant funding for education, the State
Board of Equalization shall examine and investigate appropriations
from the trust fund each year. At the meeting of the State Board of
Equalization held within five (5) days after the monthly
apportionment in February of each year, the State Board of
Equalization shall issue a finding and report which shall state
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whether appropriations from the trust fund were used to enhance or
supplant education funding. If the State Board of Equalization
finds that education funding was supplanted by funds from the trust
fund, the Board shall specify the amount by which education funding
was supplanted. In this event, the Legislature shall not make any
appropriations for the ensuing fiscal year until an appropriation in
that amount is made to replenish the trust fund.
F. Except as otherwise provided by this subsection, no
deficiency in the Oklahoma Education Lottery Trust Fund shall be
replenished by reducing any nonlottery funds including, specifically
but without limitation, the General Revenue Fund, the Constitutional
Reserve Fund, or the Education Reform Revolving Fund of the State
Department of Education. No program or project started specifically
from lottery proceeds shall be continued from the General Revenue
Fund, the Constitutional Reserve Fund, or the Education Reform
Revolving Fund of the State Department of Education. Such programs
must be adjusted or discontinued according to available lottery
proceeds unless the Legislature by general law establishes
eligibility requirements and appropriates specific funds therefor.
No surplus in the Oklahoma Education Lottery Trust Fund shall be
reduced or transferred to correct any nonlottery deficiencies in
sums available for general appropriations. The provisions of this
subsection shall not apply to bonds or other obligations issued
pursuant to or to the repayment of bonds or other obligations issued
pursuant to the Oklahoma Higher Education Promise of Excellence Act
of 2005.
G. There is hereby created in the State Treasury a revolving
fund to be designated the “Oklahoma Education Lottery Revolving
Fund”. The fund shall be a continuing fund, not subject to fiscal
year limitations, and shall consist of all monies received by the
Commission. All monies accruing to the credit of the Oklahoma
Education Lottery Revolving Fund are hereby appropriated and may be
budgeted and expended for the payment of net proceeds, prizes,
commissions to retailers, administrative expenses and all other
expenses arising out of the operation of the education lottery,
subject to the limitations provided in the Oklahoma Education
Lottery Act. Expenditures from the fund shall be made upon warrants
issued by the State Treasurer against claims filed as prescribed by
law with the Director of the Office of Management and Enterprise
Services for approval and payment.
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The monies in the fund shall be invested by the State Treasurer
in accordance with state investment practices. All earnings
attributable to such investments shall likewise accrue to the credit
of the fund.
H. When appropriations from the Oklahoma Education Lottery
Trust Fund are made to common education pursuant to the provisions
of subparagraph a of paragraph 1 of subsection C of this section,
the appropriations shall be made available on a monthly basis. The
following process shall be used to ensure that the appropriations
are made available to common education in a timely manner:
1. Beginning in July of the fiscal year in which appropriations
are made to common education from the Oklahoma Education Lottery
Trust Fund, the Commission, on or before the ninth day of each
month, shall transfer to the State Treasurer, for credit to the
Oklahoma Education Lottery Trust Fund, one-twelfth (1/12) of the
annual apportionment due to common education as required by
subparagraph a of paragraph 1 of subsection C of this section;
2. The Director of the Office of Management and Enterprise
Services shall allocate the transfers provided for in paragraph 1 of
this subsection to the State Department of Education on a monthly
basis, not to exceed one-twelfth (1/12) of the annual apportionment
for the fiscal year; and
3. The total amount of transfers to the Oklahoma Education
Lottery Trust Fund of net lottery proceeds made pursuant to this
subsection shall not exceed the total appropriations made to common
education from the Oklahoma Education Lottery Trust Fund for the
specific fiscal year.
I. When appropriations from the Oklahoma Education Lottery
Trust Fund are made to The Oklahoma State System of Higher Education
pursuant to the provisions of subparagraph b of paragraph 1 of
subsection C of this section, the appropriations shall be made
available to the System on a monthly basis. The following process
shall be used to ensure that the appropriations are made available
to The Oklahoma State System of Higher Education in a timely manner:
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1. Beginning in July of the fiscal year in which appropriations
are made to The Oklahoma State System of Higher Education from the
Oklahoma Education Lottery Trust Fund, the Commission, on or before
the ninth day of each month, shall transfer to the State Treasurer,
for credit to the Oklahoma Education Lottery Trust Fund one-twelfth
(1/12) of the annual apportionment due to the Oklahoma State Regents
for Higher Education as required by subparagraph b of paragraph 1 of
subsection C of this section;
2. The Director of the Office of Management and Enterprise
Services shall allocate the transfers provided for in paragraph 1 of
this subsection to the Oklahoma State Regents for Higher Education
on a monthly basis, not to exceed one-twelfth (1/12) of the annual
apportionment for the fiscal year; and
3. The total amount of transfers to the Oklahoma Education
Lottery Trust Fund of net lottery proceeds made pursuant to this
subsection shall not exceed the total appropriations made to The
Oklahoma State System for Higher Education from the Oklahoma
Education Lottery Trust Fund for the specific fiscal year.
J. When appropriations from the Oklahoma Education Lottery
Trust Fund are made to the Oklahoma Department of Career and
Technology Education, pursuant to the provisions of subparagraph b
of paragraph 1 of subsection C of this section, the appropriations
shall be made available on an annual basis. The following process
shall be used to ensure that the appropriations to the Oklahoma
Education Lottery Trust Fund are available for the Oklahoma
Department of Career and Technology Education in a timely manner:
1. Beginning in July of the fiscal year in which appropriations
are made to the Oklahoma Department of Career and Technology
Education from the Oklahoma Education Lottery Trust Fund, the
Commission, on or before the ninth day of each quarter, shall
transfer to the State Treasurer, for credit to the Oklahoma
Education Lottery Trust Fund, one-fourth (1/4) of the annual
apportionment due to the Oklahoma Department of Career and
Technology Education as required by subparagraph b of paragraph 1 of
subsection C of this section;
2. The Director of the Office of Management and Enterprise
Services shall allocate the transfer provided for in paragraph 1 of
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this subsection to the Oklahoma Department of Career and Technology
Education on a quarterly basis, not to exceed one-fourth (1/4) of
the annual apportionment for the fiscal year; and
3. The total amount of transfers to the Oklahoma Education
Lottery Trust Fund of net lottery proceeds made pursuant to this
subsection shall not exceed the total appropriations made to the
Oklahoma Department of Career and Technology Education from the
Oklahoma Education Lottery Trust Fund for the specific fiscal year.
K. When appropriations from the Oklahoma Education Lottery
Trust Fund are made to the School Consolidation Assistance Fund and
Teachers’ Retirement System Dedicated Revenue Revolving Fund,
pursuant to the provisions of subparagraphs c and d of paragraph 1
of subsection C of this section, the appropriations shall be made
available on an annual basis. The following process shall be used
to ensure that the appropriations to the Oklahoma Education Lottery
Trust Fund are made available to the School Consolidation Assistance
Fund and Teachers’ Retirement System Dedicated Revenue Revolving
Fund in a timely manner:
1. Beginning in July of the fiscal year in which appropriations
are made to the School Consolidation Assistance Fund and the
Teachers’ Retirement System Dedicated Revenue Revolving Fund from
the Oklahoma Education Lottery Trust Fund, the Commission, on or
before the ninth day of each quarter, shall transfer to the State
Treasurer, for credit to the Oklahoma Education Lottery Trust Fund,
one-fourth (1/4) of the annual apportionment due to the School
Consolidation Assistance Fund and the Teachers’ Retirement System
Dedicated Revenue Revolving Fund as required by subparagraphs c and
d of paragraph 1 of subsection C of this section;
2. The Director of the Office of Management and Enterprise
Services shall allocate the transfers provided for in paragraph 1 of
this subsection to the School Consolidation Assistance Fund and the
Teachers’ Retirement System Dedicated Revenue Revolving Fund on a
quarterly basis, not to exceed one-fourth (1/4) of the annual
apportionment for the fiscal year; and
3. The total amount of transfers to the Oklahoma Education
Lottery Trust Fund of net lottery proceeds made pursuant to this
subsection shall not exceed the total appropriations made to the
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School Consolidation Assistance Fund and the Teachers’ Retirement
System Dedicated Revenue Revolving Fund from the Oklahoma Education
Lottery Trust Fund for the specific fiscal year.
L. At the conclusion of each fiscal year, the Oklahoma Lottery
Commission shall make available all remaining profits to the
Oklahoma Education Lottery Trust Fund in the following manner:
1. By July 9 of the proceeding fiscal year, the Oklahoma
Lottery Commission shall transfer the five percent (5%) difference
between the previous year’s State Board of Equalization estimate and
the appropriated amount. The cash contribution shall be available
for appropriation in the following legislative session pending
profit exists above and beyond the prior year’s annual
appropriation; and
2. By September 30, the Oklahoma Lottery Commission shall
transfer all remaining profit as established by an external
financial audit pursuant to Section 733 of this title. This cash
contribution shall be available for appropriation in the following
legislative session pending profit exists above and beyond the prior
year’s annual appropriation.
SECTION 2. AMENDATORY 62 O.S. 2021, Section 3103, as
last amended by Section 2, Chapter 361, O.S.L. 2024 (62 O.S. Supp.
2025, Section 3103), is amended to read as follows:
Section 3103. As used in the Oklahoma Pension Legislation
Actuarial Analysis Act:
1. “Amendment” means any amendment, including a substitute
bill, made to a retirement bill by any committee of the House of
Representatives or Senate, any conference committee of the House or
Senate or by the House or Senate;
2. “RB number” means that number preceded by the letters “RB”
assigned to a retirement bill by the respective staffs of the
Oklahoma State Senate and the Oklahoma House of Representatives when
the respective staff office prepares a retirement bill for a member
of the Legislature;
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3. “Legislative Actuary” means the firm or entity that enters
into a contract with the Legislative Service Bureau pursuant to
Section 452.15 of Title 74 of the Oklahoma Statutes to provide the
actuarial services and other duties provided for in the Oklahoma
Pension Legislation Actuarial Analysis Act;
4. “Nonfiscal amendment” means an amendment to a retirement
bill having a fiscal impact, which amendment does not change any
factor of an actuarial investigation specified in subsection A of
Section 3109 of this title;
5. “Nonfiscal retirement bill” means a retirement bill:
a. which does not affect the cost or funding factors of a
retirement system,
b. which affects such factors only in a manner which does
not:
(1) grant a benefit increase under the retirement
system affected by the bill,
(2) create an actuarial accrued liability for or
increase the actuarial accrued liability of the
retirement system affected by the bill, or
(3) increase the normal cost of the retirement system
affected by the bill,
c. which authorizes the purchase by an active member of
the retirement system, at the actuarial cost for the
purchase as computed pursuant to the statute in effect
on the effective date of the measure allowing such
purchase, of years of service for purposes of reaching
a normal retirement date in the applicable retirement
system, but which cannot be used in order to compute
the number of years of service for purposes of
computing the retirement benefit for the member,
d. which provides for the computation of a service-
connected disability retirement benefit for members of
the Oklahoma Law Enforcement Retirement System
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pursuant to Section 2-305 of Title 47 of the Oklahoma
Statutes if the members were unable to complete twenty
(20) years of service as a result of the disability,
e. which requires membership in the defined benefit plan
authorized by Section 901 et seq. of Title 74 of the
Oklahoma Statutes for persons whose first elected or
appointed service occurs on or after November 1, 2018,
if such persons had any prior service in the Oklahoma
Public Employees Retirement System prior to November
1, 2015,
f. which provides for a one-time increase in retirement
benefits if the increase in retirement benefits is not
a permanent increase in the gross annual retirement
benefit payable to a member or beneficiary, occurs
only once pursuant to a single statutory authorization
and does not exceed:
(1) the lesser of two percent (2%) of the gross
annual retirement benefit of the member or One
Thousand Dollars ($1,000.00) and requires that
the benefit may only be provided if the funded
ratio of the affected retirement system would not
be less than sixty percent (60%) but not greater
than eighty percent (80%) after the benefit
increase is paid,
(2) the lesser of two percent (2%) of the gross
annual retirement benefit of the member or One
Thousand Two Hundred Dollars ($1,200.00) and
requires that the benefit may only be provided if
the funded ratio of the affected retirement
system would be greater than eighty percent (80%)
but not greater than one hundred percent (100%)
after the benefit increase is paid,
(3) the lesser of two percent (2%) of the gross
annual retirement benefit of the member or One
Thousand Four Hundred Dollars ($1,400.00) and
requires that the benefit may only be provided if
the funded ratio of the affected retirement
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system would be greater than one hundred percent
(100%) after the benefit increase is paid, or
(4) the greater of two percent (2%) of the gross
annual retirement benefit of the volunteer
firefighter or One Hundred Dollars ($100.00) for
persons who retired from the Oklahoma
Firefighters Pension and Retirement System as
volunteer firefighters and who did not retire
from the Oklahoma Firefighters Pension and
Retirement System as a paid firefighter.
As used in this subparagraph, “funded ratio” means the
figure derived by dividing the actuarial value of
assets of the applicable retirement system by the
actuarial accrued liability of the applicable
retirement system,
g. which modifies the disability pension standard for
police officers who are members of the Oklahoma Police
Pension and Retirement System as provided by Section
50-115 of Title 11 of the Oklahoma Statutes,
h. which provides a cost-of-living benefit increase
pursuant to the provisions of:
(1) Section 49-143.7 of Title 11 of the Oklahoma
Statutes,
(2) Section 50-136.9 of Title 11 of the Oklahoma
Statutes,
(3) Section 1104K of Title 20 of the Oklahoma
Statutes,
(4) Section 2-305.12 of Title 47 of the Oklahoma
Statutes,
(5) Section 17-116.22 of Title 70 of the Oklahoma
Statutes,
(6) Section 6 of this act,
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(7) Section 930.11 of Title 74 of the Oklahoma
Statutes,
i. which modifies the computation of the line-of-duty
disability benefit pursuant to the provisions of this
section and Sections 50-101 and 50-115 of Title 11 of
the Oklahoma Statutes, or
j. which authorizes membership in the Oklahoma Law
Enforcement Retirement System for active commissioned
or CLEET-certified agents of the Office of the
Attorney General or the Military Department of the
State of Oklahoma pursuant to Sections 3 and 4 of this
act.
A nonfiscal retirement bill shall include any retirement bill that
has as its sole purpose the appropriation or distribution or
redistribution of monies in some manner to a retirement system for
purposes of reducing the unfunded liability of such system or the
earmarking of a portion of the revenue from a tax to a retirement
system or increasing the percentage of the revenue earmarked from a
tax to a retirement system;
6. “Reduction-in-cost amendment” means an amendment to a
retirement bill having a fiscal impact which reduces the cost of the
bill as such cost is determined by the actuarial investigation for
the bill prepared pursuant to Section 3109 of this title;
7. “Retirement bill” means any bill or joint resolution
introduced or any bill or joint resolution amended by a member of
the Legislature which creates or amends any law directly affecting a
retirement system. A retirement bill shall not mean a bill or
resolution that impacts the revenue of any state tax in which a
portion of the revenue generated from such tax is earmarked for the
benefit of a retirement system;
8. “Retirement bill having a fiscal impact” means any
retirement bill creating or establishing a retirement system and any
other retirement bill other than a nonfiscal retirement bill; and
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9. “Retirement system” means the Teachers’ Retirement System of
Oklahoma, the Oklahoma Public Employees Retirement System, the
Uniform Retirement System for Justices and Judges, the Oklahoma
Firefighters Pension and Retirement System, the Oklahoma Police
Pension and Retirement System, the Oklahoma Law Enforcement
Retirement System, or a retirement system established after January
1, 2006.
SECTION 3. AMENDATORY 68 O.S. 2021, Section 1353, as
last amended by Section 4, Chapter 441, O.S.L. 2024 (68 O.S. Supp.
2025, Section 1353), is amended to read as follows:
Section 1353. A. 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, revenues derived pursuant to the provisions of the
Oklahoma Sales Tax Code, subject to the apportionment requirements
for the Oklahoma Tax Commission and Office of Management and
Enterprise Services Joint Computer Enhancement Fund provided by
Section 265 of this title, and further subject to the apportionment
requirement provided in subsection D of this section, shall be
apportioned as follows:
1. Except
a. Until the conditions of subparagraph c of paragraph 3
of this subsection have been met and except as
provided in subsection C of this section, the
following amounts 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:
Fiscal Year Amount
FY 2003 and FY 2004 86.04%
FY 2005 85.83%
FY 2006 85.54%
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FY 2007 85.04%
FY 2008 through FY 2022 83.61%
FY 2023 through FY 2027 83.36%
FY 2028 and each fiscal year thereafter 83.61%, and
b. After such conditions of subparagraph c of paragraph 3
of this subsection have been met and except as
provided in subsection C of this section, the
following amounts 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:
Fiscal Year Amount
FY 2003 and FY 2004 86.04%
FY 2005 85.83%
FY 2006 85.54%
FY 2007 85.04%
FY 2008 through FY 2022 83.61%
FY 2023 through FY 2027 83.36%
FY 2028 and each fiscal year thereafter 88.61%;
2. The following amounts 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:
a. for FY 2003, FY 2004 and FY 2005, ten and forty-two
one-hundredths percent (10.42%),
b. for FY 2006 through FY 2020, ten and forty-six one-
hundredths percent (10.46%),
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c. for FY 2021:
(1) for the month beginning July 1, 2020, through the
month ending August 31, 2020, ten and forty-six
one-hundredths percent (10.46%), and
(2) for the month beginning September 1, 2020,
through the month ending June 30, 2021, eleven
and ninety-six one-hundredths percent (11.96%),
and
d. for FY 2022 and each fiscal year thereafter, ten and
forty-six one-hundredths percent (10.46%);
3. The Subject to the provisions of subparagraph c of this
paragraph, the following amounts shall be paid to the State
Treasurer to be placed to the credit of the Teachers’ Retirement
System Dedicated Revenue Revolving Fund:
Fiscal Year Amount
FY 2003 and FY 2004 3.54%
FY 2005 3.75%
FY 2006 4.0%
FY 2007 4.5%
FY 2008 through FY 2020 5.0%
FY 2021:
a. for the month beginning July
1, 2020, through the month
ending August 31, 2020 5.0%
b. for the month beginning
September 1, 2020, through
the month ending June 30,
2021 3.5%
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FY 2022 5.0%
FY 2023 through FY 2027 5.25%
FY 2028 and each fiscal year thereafter 5.0%,
c. all apportionments to the Teachers’ Retirement System
Dedicated Revenue Revolving Fund, pursuant to this
subsection, shall cease upon the earlier of June 30,
2036, or June 30 of the state fiscal year in which a
determination is made by an actuary employed or
contracted by the Teachers’ Retirement System of
Oklahoma that the System has a funded ratio equal to
or greater than one hundred percent (100%);
4. a. except as otherwise provided in subparagraph b of this
paragraph, for the fiscal year beginning July 1, 2022,
and for each fiscal year thereafter, eighty-seven one-
hundredths percent (0.87%) shall be paid to the State
Treasurer to be further apportioned as follows:
(1) twenty-four percent (24%) shall be placed to the
credit of the Oklahoma Tourism Promotion
Revolving Fund, but in no event shall such
apportionment exceed Five Million Dollars
($5,000,000.00) in any fiscal year,
(2) forty-four percent (44%) shall be placed to the
credit of the Oklahoma Tourism Capital
Improvement Revolving Fund, but in no event shall
such apportionment exceed Nine Million Dollars
($9,000,000.00) in any fiscal year, and
(3) thirty-two percent (32%) shall be placed to the
credit of the Oklahoma Route 66 Commission
Revolving Fund, but in no event shall such
apportionment exceed Six Million Six Hundred
Thousand Dollars ($6,600,000.00) in any fiscal
year, and
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b. any amounts which exceed the limitations of
subparagraph a of this paragraph shall be placed to
the credit of the General Revenue Fund; and
5. For the fiscal year beginning July 1, 2015, and for each
fiscal year thereafter, six one-hundredths percent (0.06%) shall be
placed to the credit of the Oklahoma Historical Society Capital
Improvement and Operations Revolving Fund, but in no event shall
such apportionment exceed the total amount apportioned pursuant to
this paragraph for the fiscal year ending on June 30, 2015. Any
amounts which exceed the limitations of this paragraph shall be
placed to the credit of the General Revenue Fund.
B. Provided, for the fiscal year beginning July 1, 2007, and
every fiscal year thereafter, an amount of revenue shall be
apportioned to each municipality or county which levies a sales tax
subject to the provisions of Section 1357.10 of this title and
subsection F of Section 2701 of this title equal to the amount of
sales tax revenue of such municipality or county exempted by the
provisions of Section 1357.10 of this title and subsection F of
Section 2701 of this title. The Oklahoma Tax Commission shall
promulgate and adopt rules necessary to implement the provisions of
this subsection.
C. From the monies that would otherwise be apportioned to the
General Revenue Fund pursuant to subsection A of this section, there
shall be apportioned the following amounts:
1. For the month ending August 31, 2019:
a. Nine Million Six Hundred Thousand Dollars
($9,600,000.00) to the credit of the State Highway
Construction and Maintenance Fund created in Section
1501 of Title 69 of the Oklahoma Statutes, and
b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 309 of Title 66 of the Oklahoma
Statutes;
2. For the month ending September 30, 2019:
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a. Twenty Million Dollars ($20,000,000.00) to the credit
of the State Highway Construction and Maintenance Fund
created in Section 1501 of Title 69 of the Oklahoma
Statutes, and
b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 309 of Title 66 of the Oklahoma
Statutes;
3. For the month ending October 31, 2019:
a. Twenty Million Dollars ($20,000,000.00) to the credit
of the State Highway Construction and Maintenance Fund
created in Section 1501 of Title 69 of the Oklahoma
Statutes, and
b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 309 of Title 66 of the Oklahoma
Statutes;
4. For the month ending November 30, 2019:
a. Twenty Million Dollars ($20,000,000.00) to the credit
of the State Highway Construction and Maintenance Fund
created in Section 1501 of Title 69 of the Oklahoma
Statutes, and
b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 309 of Title 66 of the Oklahoma
Statutes; and
5. For the month ending December 31, 2019:
a. Twenty Million Dollars ($20,000,000.00) to the credit
of the State Highway Construction and Maintenance Fund
created in Section 1501 of Title 69 of the Oklahoma
Statutes, and
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b. Two Million Dollars ($2,000,000.00) to the credit of
the Oklahoma Railroad Maintenance Revolving Fund
created in Section 309 of Title 66 of the Oklahoma
Statutes.
D. For fiscal year 2029, and each subsequent fiscal year, Fifty
Million Dollars ($50,000,000.00) shall be placed to the credit of
the Oklahoma Capital Assets Maintenance and Protection Fund created
in Section 2 188B of this act Title 73 of the Oklahoma Statutes.
SECTION 4. AMENDATORY 68 O.S. 2021, Section 1403, is
amended to read as follows:
Section 1403. A. It is hereby declared to be the purpose of
Section 1401 et seq. of this title to provide for the support of the
functions of the state and local government of Oklahoma; and for
this purpose and to this end, it is hereby expressly provided that
the revenues derived hereunder, subject to the apportionment
provided in subsection B of this section and to the apportionment
requirements for the Oklahoma Tax Commission and Office of
Management and Enterprise Services Joint Computer Enhancement Fund
provided by Section 265 of this title, are hereby apportioned as
follows:
1. The
a. Until the conditions of subparagraph c of paragraph 3
of this subsection have been met, the following
amounts shall be paid by the Tax Commission to the
State Treasurer and placed to the credit of the
General Revenue Fund to be paid out pursuant to direct
appropriation by the Legislature:
Fiscal Year Amount
FY 2004 85.35%
FY 2005 85.14%
FY 2006 85.54%
FY 2007 85.04%
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FY 2008 through FY 2022 83.61%
FY 2023 through FY 2027 83.36%
FY 2028 and each fiscal year thereafter 83.61%, and
b. After such conditions of subparagraph c of paragraph 3
of this subsection have been met, the following
amounts shall be paid by the Tax Commission to the
State Treasurer and placed to the credit of the
General Revenue Fund to be paid out pursuant to direct
appropriation by the Legislature:
Fiscal Year Amount
FY 2004 85.35%
FY 2005 85.14%
FY 2006 85.54%
FY 2007 85.04%
FY 2008 through FY 2022 83.61%
FY 2023 through FY 2027 83.36%
FY 2028 and each fiscal year thereafter 88.61%;
2. The following amounts 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:
a. for FY 2020, ten and forty-six one-hundredths percent
(10.46%),
b. for FY 2021:
(1) for the month beginning July 1, 2020, through the
month ending August 31, 2020, ten and forty-six
one-hundredths percent (10.46%), and
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(2) for the month beginning September 1, 2020,
through the month ending June 30, 2021, eleven
and ninety-six one-hundredths percent (11.96%),
and
c. for FY 2022 and each fiscal year thereafter, ten and
forty-six one-hundredths percent (10.46%);
3. The Subject to the provisions of subparagraph c of this
paragraph, the following amounts shall be paid to the State
Treasurer to be placed to the credit of the Teachers’ Retirement
System Dedicated Revenue Revolving Fund:
Fiscal Year Amount
FY 2003 and FY 2004 3.54%
FY 2005 3.75%
FY 2006 4.0%
FY 2007 4.5%
FY 2008 through FY 2020 5.0%
FY 2021:
a. for the month beginning July
1, 2020, through the month
ending August 31, 2020 5.0%
b. for the month beginning
September 1, 2020, through
the month ending June 30,
2021 3.5%
FY 2022 5.0%
FY 2023 through FY 2027 5.25%
FY 2028 and each fiscal year thereafter 5.0%;
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c. all apportionments to the Teachers’ Retirement System
Dedicated Revenue Revolving Fund, pursuant to this
subsection, shall cease upon the earlier of June 30,
2036, or June 30 of the state fiscal year in which a
determination is made by an actuary employed or
contracted by the Teachers’ Retirement System of
Oklahoma that the System has a funded ratio equal to
or greater than one hundred percent (100%);
4. a. except as otherwise provided in subparagraph b of this
paragraph, for the fiscal year beginning July 1, 2015,
and for each fiscal year thereafter, eighty-seven one-
hundredths percent (0.87%) shall be paid to the State
Treasurer to be further apportioned as follows:
(1) thirty-six percent (36%) shall be placed to the
credit of the Oklahoma Tourism Promotion
Revolving Fund, but in no event shall such
apportionment exceed the total amount apportioned
pursuant to this division for the fiscal year
ending on June 30, 2015, and
(2) sixty-four percent (64%) shall be placed to the
credit of the Oklahoma Tourism Capital
Improvement Revolving Fund, but in no event shall
such apportionment exceed the total amount
apportioned pursuant to this division for the
fiscal year ending on June 30, 2015, and
b. any amounts which exceed the limitations of
subparagraph a of this paragraph shall be placed to
the credit of the General Revenue Fund; and
5. For the fiscal year beginning July 1, 2015, and for each
fiscal year thereafter, six one-hundredths percent (0.06%) shall be
placed to the credit of the Oklahoma Historical Society Capital
Improvement and Operations Revolving Fund, but in no event shall
such apportionment exceed the total amount apportioned pursuant to
this paragraph for the fiscal year ending on June 30, 2015. Any
amounts which exceed the limitations of this paragraph shall be
placed to the credit of the General Revenue Fund.
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B. Prior to the apportionments otherwise provided in this
section, there shall be apportioned to the Education Reform
Revolving Fund of the State Department of Education the following
amounts in the following state fiscal years:
FY 2019 $19,600,000.00; and
FY 2020 and each year thereafter $20,500,000.00.
SECTION 5. AMENDATORY 68 O.S. 2021, Section 2352, is
amended to read as follows:
Section 2352. It is hereby declared to be the purpose of
Section 2351 et seq. of this title to provide revenue for general
governmental functions of state government; and, for that purpose
and to that end, it is expressly declared that the revenue derived
herefrom and penalties and interest thereon, subject to the
apportionment requirements for the Rebuilding Oklahoma Access and
Driver Safety Fund, the Oklahoma Tourism and Passenger Rail
Revolving Fund, the Public Transit Revolving Fund and the Education
Reform Revolving Fund to be derived from income tax revenue that
would otherwise be apportioned to the General Revenue Fund as
provided by Section 1521 of Title 69 of the Oklahoma Statutes,
subject to the apportionment requirements for the Oklahoma Tax
Commission and Office of Management and Enterprise Services Joint
Computer Enhancement Fund provided by Section 265 of this title, and
subject to the apportionment requirements for the Oklahoma State
Capitol Building Repair and Restoration Fund provided by Section 19
of Title 73 of the Oklahoma Statutes, shall be distributed as
follows:
1. For the fiscal year beginning July 1, 2002, the first Five
Million Eight Hundred Thousand Dollars ($5,800,000.00) of revenue
derived pursuant to the provisions of subsections A, B and E of
Section 2355 of this title shall be apportioned to the Education
Reform Revolving Fund. The remainder of such revenue for the fiscal
year beginning July 1, 2002, and all such revenue for each fiscal
year thereafter shall be apportioned monthly as follows:
a. (1) Until the conditions of subparagraph e of this
paragraph have been met, the following amounts
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shall be paid to the State Treasurer to be placed
to the credit of the General Revenue Fund of the
state for such fiscal year for the support of the
state government to be paid out only pursuant to
appropriation by the Legislature:
Fiscal Year Amount
FY 2003 and FY 2004 87.12%
FY 2005 86.91%
FY 2006 86.66%
FY 2007 86.16%
FY 2008 through FY 2022 85.66%
FY 2023 through FY 2027 85.41%
FY 2028 and each
fiscal year thereafter 85.66%
Of the funds apportioned to the General Revenue
Fund pursuant to this subparagraph division,
until the expiration of the Filmed in Oklahoma
Act of 2021 as provided in Section 11 3641 of
this act title, Thirty Million Dollars
($30,000,000.00) shall be transferred to the
Oklahoma Tax Commission for deposit in the Filmed
in Oklahoma Program Revolving Fund, and
(2) After such conditions of subparagraph e of this
paragraph have been met, the following amounts
shall be paid to the State Treasurer to be placed
to the credit of the General Revenue Fund of the
state for such fiscal year for the support of the
state government to be paid out only pursuant to
appropriation by the Legislature:
Fiscal Year Amount
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FY 2003 and FY 2004 87.12%
FY 2005 86.91%
FY 2006 86.66%
FY 2007 86.16%
FY 2008 through FY 2022 85.66%
FY 2023 through FY 2027 85.41%
FY 2028 and each
fiscal year thereafter 90.66%
Of the funds apportioned to the General Revenue
Fund pursuant to this division, until the
expiration of the Filmed in Oklahoma Act of 2021
as provided in Section 3641 of this title, Thirty
Million Dollars ($30,000,000.00) shall be
transferred to the Oklahoma Tax Commission for
deposit in the Filmed in Oklahoma Program
Revolving Fund.
b. the following amounts 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:
(1) for FY 2003 through FY 2020, eight and thirty-
four one-hundredths percent (8.34%),
(2) for FY 2021:
(a) for the month beginning July 1, 2020,
through the month ending August 31, 2020,
eight and thirty-four one-hundredths percent
(8.34%), and
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(b) for the month beginning September 1, 2020,
through the month ending June 30, 2021, nine
and eighty-four one-hundredths percent
(9.84%),
(3) for FY 2022 and each fiscal year thereafter,
eight and thirty-four one-hundredths percent
(8.34%) shall be paid to the State Treasurer to
be placed to the credit of the Education Reform
Revolving Fund,
c. subject to the provisions of subparagraph e of this
paragraph, the following amounts shall be paid to the
State Treasurer to be placed to the credit of the
Teachers’ Retirement System Dedicated Revenue
Revolving Fund:
Fiscal Year Amount
FY 2003 and FY 2004 3.54%
FY 2005 3.75%
FY 2006 4.0%
FY 2007 4.5%
FY 2008 through FY 2020 5.0%
FY 2021:
(1) for the month beginning
July 1, 2020, through
the month ending August
31, 2020 5.0%
(2) for the month beginning
September 1, 2020,
through the month ending
June 30, 2021 3.5%
FY 2022 5.0%
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FY 2023 through FY 2027 5.25%
FY 2028 and each fiscal
year thereafter 5.0%
d. for FY 2003 and each fiscal year thereafter, one
percent (1%) shall be placed to the credit of the Ad
Valorem Reimbursement Fund,
e. all apportionments to the Teachers’ Retirement System
Dedicated Revenue Revolving Fund pursuant to this
paragraph, shall cease upon the earlier of June 30,
2036, or June 30 of the state fiscal year in which a
determination is made by an actuary employed or
contracted by the Teachers’ Retirement System of
Oklahoma that the System has a funded ratio equal to
or greater than one hundred percent (100%);
2. Beginning July 1, 2003, for any period of time as certified
by the Oklahoma Development Finance Authority and the Oklahoma
Department of Commerce to be necessary for the repayment of
obligations issued by the Oklahoma Development Finance Authority
pursuant to Section 3654 of this title if the other sources of
revenue paid to or apportioned to the Quality Jobs Program Incentive
Leverage Fund are not adequate including the proceeds from payment
pursuant to the guaranty required by subsection M of Section 3654 of
this title, an amount certified by the Oklahoma Development Finance
Authority to the Oklahoma Tax Commission shall be apportioned to the
Quality Jobs Program Incentive Leverage Fund before any other
apportionments are made as otherwise authorized by this paragraph.
The Oklahoma Development Finance Authority shall certify to the
Oklahoma Tax Commission the time as of which the revenue authorized
for apportionment pursuant to this paragraph is no longer required.
After the certification, the revenue derived from the income tax
shall be apportioned in the manner otherwise provided by this
section. Except as otherwise provided by this paragraph, for the
fiscal year beginning July 1, 2002, the first Forty-one Million One
Hundred Ninety Thousand Eight Hundred Dollars ($41,190,800.00) of
revenue derived pursuant to the provisions of subsections D and E of
Section 2355 of this title shall be apportioned to the Education
Reform Revolving Fund. The remainder of such revenue for the fiscal
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year beginning July 1, 2002, and all such revenue for each fiscal
year thereafter, subject to the apportionment requirements for the
Oklahoma Tax Commission and Office of Management and Enterprise
Services Joint Computer Enhancement Fund provided by Section 265 of
this title, shall be apportioned monthly as follows:
a. (1) Until the conditions of subparagraph e of this
paragraph have been met, the following amounts
shall be paid to the State Treasurer to be placed
to the credit of the General Revenue Fund of the
state for such fiscal year for the support of the
state government to be paid out only pursuant to
appropriation by the Legislature:
Fiscal Year Amount
FY 2003 and FY 2004 78.96%
FY 2005 78.75%
FY 2006 78.50%
FY 2007 78.0%
(1) (a) FY 2018 through FY 2022
until the apportionment to
the General Revenue Fund
equals the moving five-
year average amount for
corporate income tax as
prescribed by paragraph 3
of this section 77.50%
(b) FY 2023 through FY 2027
until the apportionment to
the General Revenue Fund
equals the moving five-
year average amount for
corporate income tax as
prescribed by paragraph 3
of this section 77.25%
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(c) FY 2028 and each fiscal
year thereafter until the
apportionment to the
General Revenue Fund
equals the moving five-
year average amount for
corporate income tax as
prescribed by paragraph 3
of this section 77.50%
(2) after such conditions of subparagraph e of this
paragraph have been met, the following amounts
shall be paid to the State Treasurer to be placed
to the credit of the General Revenue Fund of the
state for such fiscal year for the support of the
state government to be paid out only pursuant to
appropriation by the Legislature:
Fiscal Year Amount
FY 2003 and FY 2004 78.96%
FY 2005 78.75%
FY 2006 78.50%
FY 2007 78.0%
(a) FY 2018 through FY 2022 until the
apportionment to the General Revenue Fund
equals the moving five-year average amount
for corporate income tax as prescribed by
paragraph 3 of this section 77.50%
(b) FY 2023 through FY 2027
until the apportionment to
the General Revenue Fund
equals the moving five-
year average amount for
corporate income tax as
prescribed by paragraph 3
of this section 82.25%
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(c) FY 2028 and each fiscal
year thereafter until the
apportionment to the
General Revenue Fund
equals the moving five-
year average amount for
corporate income tax as
prescribed by paragraph 3
of this section 82.50%
(3) there shall be apportioned from the tax levy
imposed on corporate income tax to the Revenue
Stabilization Fund created by Section 34.102 of
Title 62 of the Oklahoma Statutes, or to the
Constitutional Reserve Fund, as provided by
Section 34.102 of Title 62 of the Oklahoma
Statutes, the amount of revenue, if any, which
exceeds the moving five-year average amount as
defined pursuant to paragraph 3 of this section,
b. the following amounts 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:
(1) for FY 2003 through FY 2020, sixteen and five-
tenths percent (16.5%),
(2) for FY 2021:
(a) for the month beginning July 1, 2020,
through the month ending August 31, 2020,
sixteen and five-tenths percent (16.5%), and
(b) for the month beginning September 1, 2020,
through the month ending June 30, 2021,
eighteen percent (18%),
(3) for FY 2022, and each fiscal year thereafter,
sixteen and five-tenths percent (16.5%),
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c. subject to the provisions of subparagraph e of this
paragraph, the following amounts shall be paid to the
State Treasurer to be placed to the credit of the
Teachers’ Retirement System Dedicated Revenue
Revolving Fund:
Fiscal Year Amount
FY 2003 and FY 2004 3.54%
FY 2005 3.75%
FY 2006 4.0%
FY 2007 4.5%
FY 2008 through FY 2020 5.0%
FY 2021:
(1) for the month beginning
July 1, 2020, through
the month ending August
31, 2020 5.0%
(2) for the month beginning
September 1, 2020,
through the month ending
June 30, 2021 3.5%
FY 2022 5.0%
FY 2023 through FY 2027 5.25%
FY 2028 and each fiscal
year thereafter 5.0%
d. for FY 2003 and each fiscal year thereafter, one
percent (1%) shall be placed to the credit of the Ad
Valorem Reimbursement Fund,
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e. all apportionments to the Teachers’ Retirement System
Dedicated Revenue Revolving Fund, pursuant to this
paragraph, shall cease upon the earlier of June 30,
2036, or June 30 of the state fiscal year in which a
determination is made by an actuary employed or
contracted by the Teachers’ Retirement System of
Oklahoma that the System has a funded ratio equal to
or greater than one hundred percent (100%); and
3. “Moving five-year average for corporate income tax” means,
for purposes of the apportionments prescribed by this section, the
amount of income tax on corporations, as determined by the State
Board of Equalization in the manner prescribed by Section 34.103 of
Title 62 of the Oklahoma Statutes.
SECTION 6. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 17-116.23 of Title 70, unless
there is created a duplication in numbering, reads as follows:
Any person receiving benefits from the Teachers’ Retirement
System of Oklahoma as of June 30, 2026, who continues to receive
benefits on or after the effective date of this section, shall
receive an increase in benefits as follows:
1. Zero percent (0%) if the person has been retired for less
than eight (8) years as of June 30, 2026;
2. Three percent (3%) if the person has been retired for at
least eight (8) years but less than twenty (20) years as of June 30,
2026; and
3. Six percent (6%) if the person has been retired for twenty
(20) years or more as of June 30, 2026.
SECTION 7. Section 2 of this act shall become effective October
1, 2026.
SECTION 8. Sections 1, 3, 4, 5, and 6 of this act shall become
effective November 1, 2026.
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Passed the Senate the 14th day of April, 2026.
Presiding Officer of the Senate
Passed the House of Representatives the 16th day of April, 2026.
Presiding Officer of the House
of Representatives
OFFICE OF THE GOVERNOR
Received by the Office of the Governor this ____________________
day of ___________________, 20_______, at _______ o'clock _______ M.
By: _________________________________
Approved by the Governor of the State of Oklahoma this _________
day of ___________________, 20_______, at _______ o'clock _______ M.
_________________________________
Governor of the State of Oklahoma
OFFICE OF THE SECRETARY OF STATE
Received by the Office of the Secretary of State this __________
day of __________________, 20 _______, at _______ o'clock _______ M.
By: _________________________________