Bill > SB282

This bill creates the Budget Accountability for State's Economic Defense (BASED) Act, which requires Oklahoma employers and taxpayers to withhold federal tax payments and instead submit them to the State Treasurer, effectively creating an escrow system. The legislation is predicated on the state's view that the federal government's continued budget deficits (currently over $36 trillion) constitute a breach of constitutional responsibilities and pose an existential threat to national economic stability. Under the bill, these withheld tax funds will be deposited in a new "Taxpayer Protection Escrow Revolving Fund" and will only be released to the federal government if Congress passes a balanced budget. If no balanced budget is certified, the funds will be returned to employers and taxpayers within 90 days. The bill also creates a "Taxpayer Defense Fund" to provide legal protection for any individuals or entities potentially penalized by the federal government for compliance with this act, with the State Attorney General authorized to provide legal defense and indemnification. The legislation asserts Oklahoma's sovereign right to protect its citizens from what it characterizes as fiscally irresponsible federal spending, drawing on constitutional principles and emergency doctrines to justify this unprecedented approach to tax withholding.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb282&Session=2600