State fiscal affairs; modifying fiscal years requiring estimated revenue collections. Effective date.
SB 582 modifies state fiscal affairs by changing requirements for agencies that collect state funds. Agencies responsible for collecting monies for the General Revenue and Special Revenue Funds must now provide the Director of the Office of Management and Enterprise Services with itemized estimates of expected funds for the ensuing fiscal year and the following two fiscal years. The Oklahoma Tax Commission is additionally required to provide comprehensive economic reports, including national and state economic performance forecasts for the same three-year period, to the Director and key legislative leaders. This bill aims to expand the scope and transparency of future revenue projections.
Bill status
passed both
4 of 5 stages cleared
Introduction
Feb 2025
Committee Review
Apr 2025
Senate Passage
Mar 2025
House Passage
Apr 2025
Governor
Introduced Feb 3, 2025
Last action May 7, 2025
Maddy AI version diff · 4 comparisons
What changed between versions
Floor (House)
→
Floor (Senate)
·
5 edits
MODERATE
The Senate version of SB 582 adds requirements for agencies to provide written explanations of their revenue estimation methodologies and assumptions, along with specific projections for current and future fiscal years. It also mandates that the Oklahoma Tax Commission submit comprehensive economic reports to the State Board of Equalization meetings, including analysis of forecast accuracy. These changes enhance transparency and accountability in state revenue forecasting.
Scope change
The bill's scope expanded to include additional reporting requirements for the Oklahoma Tax Commission and State Board of Equalization, with new distribution requirements for reports to Senate and House leadership.
REQUIREMENT
Agencies must now provide written explanations of methodology and assumptions used in developing revenue estimates
Oklahoma Tax Commission must submit comprehensive economic reports to State Board of Equalization meetings no later than two weeks prior to each meeting
Reports must include analysis of the relative accuracy of economic forecasts used for previous and current fiscal years
All required documents must be provided to Senate and House leadership and committee members simultaneously with the Director of OMS
TECHNICAL
Minor formatting changes including page headers and committee report dates
Floor votes
How they voted
This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history
Actions timeline
Total actions
23
Key actions
6
Committee
6
Apr 29, 2025
Committee
Referred for enrollment
upper
Apr 29, 2025
Lower · Passed
Third Reading, Measure passed: Ayes: 70 Nays: 15
lower
Apr 17, 2025
Lower · Passed
CR; Do Pass Appropriations and Budget Committee
lower
Apr 8, 2025
Lower · Passed
Recommendation to the full committee; Do Pass Appropriations and Budget General Government Subcommittee
lower
Apr 2, 2025
Committee
Referred to Appropriations and Budget General Government Subcommittee
lower
Mar 13, 2025
Introduced
First Reading
lower
Mar 13, 2025
Upper · Passed
Engrossed to House
upper
Mar 12, 2025
Committee
Referred for engrossment
upper
Mar 12, 2025
Upper · Passed
Measure passed: Ayes: 34 Nays: 11
upper
Feb 17, 2025
Upper · Passed
Reported Do Pass Revenue and Taxation committee; CR filed
upper
Feb 3, 2025
Introduced
First Reading
upper
2 primary · 0 co-sponsors
Sponsors
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