S.J.Res.2

Oklahoma SJR2 proposes a constitutional amendment to limit state revenue and spending growth.

Oklahoma SJR2 proposes a constitutional amendment to limit state revenue and spending growth. It changes the way the State Board of Equalization figures how much can be spent. The Board would set a tax expenditure limit. The limit would set how much state spending could go up from year to year. Revenue above a certain amount would become surplus. A certain amount of surplus funds would go into a Constitutional Emergency Fund. Money from that fund could only be spent under certain conditions. Revenue in excess of a specified amount would be refunded to taxpayers.