Key terms to understand Oklahoma politics and government.
Like a block grant, a per capita cap is a federal strategy to limit federal spending on safety net programs while transferring a greater share of the responsibility and costs to states. Per capita caps are most frequently suggested as… Read more
If a bill passes the Oklahoma Legislature during the final five days of session, the Governor has 15 days following the final day of session to sign or veto it. If the Governor does not sign or veto the bill… Read more
The Quality Jobs program is a state tax incentive program that provides a quarterly cash payment to qualified companies of up to 5 percent of new taxable payroll. The incentive targets manufacturers and certain other industries that have a new… Read more
The Rainy Day Fund (formally known as the Constitutional Reserve Fund) was created in 1985 in response to a dramatic revenue downturn. It is designed to collect extra funds when times are good and to spend those funds when revenues… Read more
The Reading Sufficiency Act (RSA) was enacted in 1997 to improve Oklahoma children’s reading skills before the end of third grade. Since that time, Oklahoma has made several changes to the Act. In 2011-2012, the legislature established an intensive, accelerated reading… Read more
The Oklahoma Constitution (Article V, Section 33) sets the following conditions on revenue bills:
A. All bills for raising revenue shall originate in the House of Representatives. The Senate may propose amendments to revenue bills.
B. No revenue bill shall… Read more
Oklahoma makes official revenue estimates that determine how much the Legislature is allowed to appropriate in its annual budget for state agencies. The Legislature is limited to appropriating no more than 95 percent of certified collections. Revenue estimates are certified… Read more
A revenue failure occurs when collections going to the General Revenue Fund fall below 95 percent of the certified estimate (see revenue estimates). The Director of the Office of Management and Enterprise Services declares a revenue failure and reduces funds… Read more
In 2016, the Legislature created a new budget reserve fund, the Revenue Stabilization Fund (RSF), which is designed to grow in years when collections from the state’s most volatile revenue sources are coming in above recent averages.
Under the new… Read more
A revolving fund is a fund of a specific government agency or entity that collects revenues from fees and other sources and supports expenditures of that agency or entity. The balances of the fund carry over from one year to… Read more