Key revenue bills Oklahoma lawmakers passed for 2018 budget

Posted at 2:38 PM, May 27, 2017
and last updated 2017-05-27 15:38:58-04

OKLAHOMA CITY (AP) -- Following are some of the key revenue bills that helped lawmakers balance the budget for the fiscal year that begins July 1 and avoid major cuts to state agency budgets.

SB842 -- appropriates $60 million from the constitutional Rainy Day Reserve Fund to the state Board of Education for public schools.

SB845 -- generates about $258 million by creating a cessation fee on cigarettes that assesses a fee of $1.50 per pack of cigarettes to be paid by the wholesaler.

SB867 -- generates about $9 million through expanding the use of long-lateral drilling of oil and natural gas wells.

HB1845-- generates about $17.8 million in compliance fees for the REAL ID Act.

HB2343-- generates about $14.6 million in new tax collection enforcement efforts.

HB2361 -- generates an estimated $2.6 million by imposing a new fee on tickets for professional sporting events.

HB2429 -- generates about $95 million in new revenue by increasing the gross production tax on some currently discounted oil and natural gas production wells.

HB2298 -- repeals state tax credit for zero-emission power generators like wind energy facilities that cost the state more than $113 million in 2014.

HB2367 -- generates about $14 million by repealing a law allowing retail vendors to deduct 1 percent of the sales tax due as compensation for keeping sales tax records, filing reports and remitting the tax when due.

HB2377 -- generates $43 million through a moratorium on gross production tax rebates.

HB2380 -- generates $14.6 million by encouraging payment of unpaid mixed beverage tax, gasoline and diesel tax, gross production and petroleum excise tax, sales and use tax, income tax and withholding tax owed to the state.

HB2433 -- generates about $123 million by repealing a portion of the state sales-tax exemption on purchases of motor vehicles.

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