Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 1st Session of the 60th Legislature (2025)
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3 SENATE BILL 582 By: Rader
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6 AS INTRODUCED
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7 An Act relating to state fiscal affairs; amending 62
7 O.S. 2021, Section 34.2, which relates to itemized
8 estimate of funds expected; modifying agency
8 requirement to provide itemized estimate of funds to
9 accrue; and providing an effective date.
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12 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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13 SECTION 1. AMENDATORY 62 O.S. 2021, Section 34.2, is
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14 amended to read as follows:
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15 Section 34.2. A. Agencies responsible for the collection of
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16 monies deposited to the credit of the General Revenue Fund and each
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17 of the Special Revenue Funds shall be subject to the provisions of
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18 this act. Upon request of the Director of the Office of Management
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19 and Enterprise Services, these agencies shall provide the Director
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20 of the Office of Management and Enterprise Services an itemized
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21 estimate of funds expected to accrue to the General Revenue Fund and
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22 each of the Special Revenue Funds for the ensuing fiscal year in the
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23 manner and form established by the Director, in accordance with the
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24 duties assigned to the State Board of Equalization in Section 23 of
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Req. No. 734 Page 1
1 Article X of the Oklahoma Constitution. Each of these agencies
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2 shall also provide to the Director, as requested, a written
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3 explanation of the methodology and relevant assumptions used in
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4 developing the current and future revenue estimates submitted, a
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5 statement of:
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6 1. The prior year's actual revenue collections;
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7 2. A projection of the current year's revenue collections; and
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8 3. Estimated revenue collections for the ensuing fiscal year
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9 and the following two (2) fiscal years. No expenditure shall be
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10 made from any General Revenue Fund or Special Revenue Fund until
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11 such fund has been assigned to an agency by law or by the Director
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12 of the Office of Management and Enterprise Services.
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13 B. In addition to providing the information listed above, the
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14 Oklahoma Tax Commission shall also provide to the Director of the
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15 Office of Management and Enterprise Services a comprehensive
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16 economic report no later than two (2) weeks prior to each of the
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17 meetings of the State Board of Equalization pursuant to paragraphs 1
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18 and 3 of Section 23 of Article X of the Constitution of the State of
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19 Oklahoma. Each report shall include a summary of recent national
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20 and state economic performance and a forecast of national and state
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21 economic performance for the current fiscal year, and the ensuing
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22 fiscal year and the following two (2) fiscal years. These reports
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23 shall be considered a basis upon which the itemized revenue
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24 estimates of the Commission are developed. The report shall include
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Req. No. 734 Page 2
1 an analysis of the relative accuracy of the economic forecasts on
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2 which the previous and current fiscal years' revenue estimates were
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3 based.
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4 C. The Tax Commission shall also provide all estimates,
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5 explanations, statements, projections, reports and other documents
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6 required by this section to the President Pro Tempore of the Senate,
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7 members of the Senate Appropriations and Finance Committees, the
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8 Speaker of the House of Representatives and members of the House
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9 Appropriations and Budget Committee at the same time that such
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10 documents are provided to the Director of the Office of Management
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11 and Enterprise Services.
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12 SECTION 2. This act shall become effective November 1, 2025.
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14 60-1-734 QD 1/19/2025 5:39:12 AM
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Req. No. 734 Page 3Every fact on this page links to its source, starting with the official bill record.