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What's That?

Key terms to understand Oklahoma politics and government.

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The 1017 Fund, or Education Reform Revolving Fund, is a dedicated revenue fund that is appropriated to the State Department of Education. The fund initially consisted of personal and corporate income tax, sales tax, and use tax revenues attributable to… Read more
Oklahoma provides partial or full exemptions from ad valorem taxes for various categories of homeowners. All homesteads (a person’s primary residence) are exempted $1,000 of the assessed value. Households with gross income under $20,000 are entitled to an additional $1,000… Read more
In 1985, Oklahoma voters approved State Question 588 by a 69.7 percent majority. This created the ad valorem manufacturing exemption. Under Article X, Section 6B of the Oklahoma Constitution, all real and personal property that is necessary for the manufacturing… Read more
Property tax, also known as ad valorem tax, is an annual tax paid by property owners to local government. Property tax collections in Oklahoma totaled $2.2 billion in 2011 and are the single largest source of local government revenue. Oklahoma’s… Read more
State agencies can make rules to implement laws under procedures set out in the Administrative Procedures Act (75 OS 250). Administrative rules have the effect of law. Before becoming effective, permanent rules are subject to a comprehensive rulemaking process that… Read more
Every State Question, or ballot measure, in Oklahoma must include a ballot title that will appear on every voter’s ballot.  Oklahoma law (Title 34, Section 9) specifies that the ballot title must fairly and accurately describe the measure in 200… Read more
A block grant is a type of grant program transferring federal funding to states to be used for a broadly defined function. Unlike entitlements, which use a combination of state and federal dollars to administer a range of safety net… Read more
The State Board of Equalization was established in 1907 by the Oklahoma Constitution. The Board is responsible for providing an official estimate of how much revenue will be available for the Oklahoma Legislature to budget for the coming year. The… Read more
The Child Tax/Child Care Tax Credit is an Oklahoma tax credit that can be claimed by parents of dependent children. Taxpayers can claim the greater of five percent of the federal Child Tax Credit or twenty percent of the federal… Read more
“Coinsurance” (or co-insurance) is an insurance term that means splitting or spreading risk among multiple parties. Expressed as a percentage, it describes what portion of health care costs will be paid by an insurance company after the insured person has… Read more
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