Oklahoma § 68-2355.1B Determination of initial baseline amount of revenue

Oklahoma Statutes

§ 68-2355.1B — Determination of initial baseline amount of revenue

Oklahoma § 68-2355.1B

Title 68Revenue And Taxation

This text of Oklahoma § 68-2355.1B (Determination of initial baseline amount of revenue) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 68, § 68-2355.1B (2026).

Text

apportioned to teachers' retirement revolving fund - Annual review. In addition to any other duties prescribed by law, at the meeting required by paragraph 3 of Section 23 of Article X of the Oklahoma Constitution to be held in February of the first calendar year after an income tax rate reduction implemented pursuant to Section 2355.1A of Title 68 of the Oklahoma Statutes has been in place for twelve (12) months, the State Board of Equalization shall: 1. Determine an initial baseline amount of revenue which was finally apportioned to the credit of the Teachers’ Retirement System Dedicated Revenue Revolving Fund pursuant to Sections 1353, 1403 and 2352 of Title 68 of the Oklahoma Statutes for the most recent twelve (12) months; 2. Beginning with the February meeting in the sixth year after

Free access — add to your briefcase to read the full text and ask questions with AI

apportioned to teachers' retirement revolving fund - Annual review. In addition to any other duties prescribed by law, at the meeting required by paragraph 3 of Section 23 of Article X of the Oklahoma Constitution to be held in February of the first calendar year after an income tax rate reduction implemented pursuant to Section 2355.1A of Title 68 of the Oklahoma Statutes has been in place for twelve (12) months, the State Board of Equalization shall: 1. Determine an initial baseline amount of revenue which was finally apportioned to the credit of the Teachers’ Retirement System Dedicated Revenue Revolving Fund pursuant to Sections 1353, 1403 and 2352 of Title 68 of the Oklahoma Statutes for the most recent twelve (12) months; 2. Beginning with the February meeting in the sixth year after the Board determines an initial baseline amount, annually review such amount to determine if it differs from the average annual amount of revenue which was finally apportioned to the credit of the Teachers’ Retirement System Dedicated Revenue Revolving Fund pursuant to Sections 1353, 1403 and 2352 of Title 68 of the Oklahoma Statutes over the most recent five (5) fiscal years. If the Board determines that the initial baseline amount is less than the five- year average annual amount, a new baseline equal to the five-year average annual amount shall be determined and applied as provided in paragraph 5 of Section 1353, paragraph 5 of Section 1403 and paragraph 3 of Section 2352 of Title 68 of the Oklahoma Statutes; and 3. Determine the proportion of the baseline amount attributable to each revenue source specified in paragraph 2 of this section whenever the Board determines a baseline amount.