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Code · Oklahoma · Title 62 — Public Finance

§62-3112. Retirement bills having a fiscal impact - Concurrent

302 words·~1 min read·/ok/title-62-public-finance/62-3112·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

funding determination by State Board of Equalization - Procedure.
A. Following the close of each regular legislative session during which retirement bills having a fiscal impact may be enacted, the State Board of Equalization shall make a determination for each such bill enacted during such session, which is not vetoed by the Governor, of whether or not provision has been made for the concurrent funding of the bill in conformity with the applicable requirements of Section 311 of this title.
B. The Legislative Actuary, the Director of the Office of Management and Enterprise Services, legislative staff, retirement system administrators, and employers shall provide such information and assistance as may be necessary for the State Board of Equalization to make the determinations required by subsection A of this section.
C. The State Board of Equalization shall make the determinations required by subsection A of this section by not later than the fifteenth day immediately following the last day on which the Governor is authorized to veto bills following the close of each regular legislative session. The State Board of Equalization's findings shall be made in a report to the Secretary of State showing the determination for each retirement bill by reference to the respective Senate or House of Representatives number for the bill.
The report shall be submitted to the Secretary of State by not later than the last day on which the State Board of Equalization is required to make the determinations. The Secretary of State shall cause the State Board of Equalization's report to be printed in the annual session laws of the State of Oklahoma. Added by Laws 2006, c. 292, § 12, eff. July 1, 2006. Amended by Laws 2012, c. 304, § 471. NOTE: Reference to “Section 311” in subsection A of this section should read “Section 3111”.
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