2019 Oklahoma Statutes
Title 68. Revenue and Taxation
§68-2947.3. County Government Education-Technical Revolving Fund reserve account.
A. Within the County Government Education-Technical Revolving Fund there shall be established a reserve account. The reserve account shall consist of any revenue not otherwise apportioned pursuant to the provisions of subsection A or subsection B of Section 6 of this act.
B. The maximum balance for the reserve account shall never exceed Two Million Dollars ($2,000,000.00) at the end of each fiscal year.
C. The Oklahoma State University Center for Local Government Technology and the Oklahoma Cooperative Extension Service County Training Program may request permission to expend funds in the reserve account from the Commission on County Government Personnel Education and Training.
D. The balance in the reserve account of the County Government Education-Technical Revolving Fund shall serve as a contingency for adverse conditions if the distributions provided for in subsections A and B of Section 6 of this act are insufficient to support the purposes of education training, research, software and computer modernization of county governments.
E. For any fiscal year ending June 30, the Oklahoma Tax Commission shall transfer any amount of revenue in excess of Two Million Dollars ($2,000,000.00) remaining in the reserve account of the County Government Education-Technical Revolving Fund to the General Revenue Fund of the State Treasury.
Added by Laws 2018, c. 260, § 7, eff. July 1, 2019.
