The Time is Now, Oklahoma!
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COMPARISON: The Time is NOW vs. 2018 Sessions Bills
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4/8/2018 Update
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The Time is NOW Plan2018 Regular/Special Session Bills Appropriations Authority
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REVENUE SOURCES*FY 19 (millions)% of total new revenueFY 19 (millions)*% of total
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Gross Production Tax (first 36 months of current 2% wells & all future horizontal wells; both plans go to 7% after that)5% GPT $ 200 28.6%same $ 162 32.6%Signed into law
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Income TaxRomney Plan to limit standard deduction $ 106 15.1%same $ 89 18.0%Signed into law
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Cigarette Tax Increase$1.00/pack $ 163 23.3%same $ 144 29.1%Signed into law
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Tax little cigars same as cigarettesplans are same $ 13 1.9%same $ 1 0.2%Signed into law
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Motor Fuel Tax Increase3¢ on gasoline & 6¢ on diesel $ 113 16.1%same $ 100 20.1%Signed into law
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Renewables Tax ($1 per megawatt*hour)$1/MWh $ 23 3.3%OMITTED -
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Gaming (Indian casinos to use ball and dice in their craps and roulette games to increase state exclusivity fees)ball & dice $ 22 3.1%no FY19 appropriation - Signed into law
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3rd Party Online Sales/Use Tax Collectionsno FY19 appropriation - Signed into law
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Hotel/Motel Lodging Tax ($5/room)new proposal $ 60 8.6%
Passed in HB 1010xx but repealed by HB 1012xx
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TOTAL NEW REVENUE $ 700 100% $ 496 100.0%
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EXPENDITURES
FY 19 (millions)
% of expenditures
FY 19 (millions)**
% of expenditures
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Non-Education State Services / State Budget Holefill budget hole and shore up services; could include pay raisesstate employee raise $ (64)11.7%Signed into law
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$ (219)31.3%
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School Flexible Benefit Allowance health premiums increaseschool FBA funding $ (25)4.5%
Sufficient appropriation; current line item
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Teacher & Principal Pay Raise$6,000 raise $ (366)52.3%$6,100 avg. raise $ (354)65.0%Signed into law
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State Aid Formula Funding Restoration (Operations)available for operations, including support employee raises $ (115)16.4%textbooks line item $ (33)6.1%
Sufficient appropriation; current line item
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could be used for textbooks, support raises, and any other needs
$1,250 support raises $ (52)9.6%Signed into law
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State Aid $ (17)3.1%
Sufficient appropriation; current line item
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TOTAL EXPENDITURES $ (700)100% $ (544)100%
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NOTE: With the repeal of the lodging tax and the gaming revenue not passed by the Senate, the new revenues fall about $46 million short of the educational appropriations plus the state employee raise. House leaders said this could be covered by revenue growth and available funds, while Democrats said it could result in cuts in other agency appropriations.
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*The latest figures used in this chart come from the Tax Commission's revenue estimates, with a 5% holdback imposed to reflect what can be appropriated.
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The discrepancies between our revenue numbers and the ones in HB 1010xx and related bills are because the bills have different tax implementation timelines and also includes the required 5% hold-back which tried to prevent state revenue failures (what the revenus are versus what can be appropriated are different).

NOTE: The overall revenue projections in FY20 will be larger than those shown here due to full-year implementation of various taxes.
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**These appropriations come from what House Majority Floor Leader Jon Echols posted.
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***Oklahoma Tax Commission reportedly has not certified those revenues, so if signed into law reportedly that $21.1 million would not be availabe until FY20; funds are earmarked to Education Reform Revolving Fund, aka HB 1017 fund, which is appropriated by the State Department of Education
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