Oklahoma Rainy Day Fund Deposit Calculation Amendment (2022)
| Oklahoma Rainy Day Fund Deposit Calculation Amendment | |
|---|---|
 | |
| Election date November 8, 2022 | |
| Topic State and local government budgets, spending and finance | |
| Status Not on the ballot | |
| Type Constitutional amendment | Origin State legislature |
The Oklahoma Rainy Day Fund Deposit Calculation Amendment (HJR 1001) was not on the ballot in Oklahoma as a legislatively referred constitutional amendment on November 8, 2022.
This amendment would have changed how the Rainy Day Fund's maximum balance is calculated. As of 2021, the state's Constitutional Reserve Fund (Rainy Day Fund) had a maximum allowed balance of 15% of the General Revenue Fund certification for the preceding year. The amendment would have changed how the maximum balance is calculated to 15% of total expenditures for the previous fiscal year. The total expenditures would have excluded money expended from revolving funds, funds with money derived from fees or non-tax revenues, and proceeds from a bond or debt obligation. In the amendment's fiscal impact statement, legislative analysts said that "the provisions will increase the basis on which the calculation of the fund balance maximum is made, perhaps as much as a one hundred percent (100%) increase. This will result in the ability for the fund to receive more surplus funds."[1]
Text of measure
The full text of the measure is available here.
Path to the ballot
- See also: Amending the Oklahoma Constitution
To put a legislatively referred constitutional amendment before voters, a simple majority vote is required in both the Oklahoma State Senate and the Oklahoma House of Representatives.
2021 legislative session
This amendment was introduced as House Joint Resolution 1001 on February 1, 2021. On March 11, 2021, the House passed HJR 1001 in a vote of 93-0 with eight members excused. The measure did not receive a vote in the Senate before the legislature adjourned the 2021 session on May 27, 2021.[1]
| Vote in the Oklahoma House of Representatives | |||
| Requirement: Simple majority vote of all members in each chamber | |||
Number of yes votes required: 51  | |||
| Yes | No | Not voting | |
|---|---|---|---|
| Total | 93 | 0 | 8 |
| Total percent | 92.07% | 0% | 8% |
| Democrat | 18 | 0 | 1 |
| Republican | 75 | 0 | 7 |
See also
External links
Footnotes
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State of Oklahoma Oklahoma City (capital) |
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