Federal taxation; creating the Taxpayer Protection Act. Effective date.

SB 306 creates Oklahoma's "Federal Tax Fund" in the state treasury, requiring the Oklahoma Tax Commission to collect federal tax withholdings and estimated payments instead of sending them to the U.S. Treasury. The bill directs the Commission to hold these funds in the state fund if it or the Attorney General determines federal tax provisions violate the U.S. Constitution, or if the Legislature votes to affirm such unconstitutionality. Taxpayers must electronically submit federal tax forms to the Oklahoma Tax Commission with their identification numbers. The law also requires employers and individuals to make certain payments in lieu of federal withholding, with funds held until federal mandates are rescinded. This bill directly affects Oklahoma taxpayers and state tax administration, aiming to withhold federal tax revenue pending constitutional challenges.