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Bill > SB1280
OK SB1280
OK SB1280Excise tax; extending sunset of apportionments of excise tax collections on oil and gas. Effective date. Emergency.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/09/2026
02/09/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to excise tax; amending 68 O.S. 2021, Sections 1101, 1102, and 1103, which relate to the additional tax on oil and gas; extending sunset of tax rate and apportionment; updating statutory language; providing an effective date; and declaring an emergency.
AI Summary
This bill extends the sunset date for an excise tax levied on oil and gas production in Oklahoma from July 1, 2026, to July 1, 2031. This excise tax is an additional tax on the gross value of petroleum oil and natural gas/casinghead gas produced in the state, collected by the Oklahoma Tax Commission alongside the existing gross production tax. The bill also adjusts the apportionment of the collected excise tax revenue, with a larger percentage going to the General Revenue Fund and a smaller percentage to the Interstate Oil Compact Fund and the Corporation Commission Plugging Fund. The bill declares an emergency, meaning it will take effect immediately upon passage and approval.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Placed on General Order (on 02/11/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1280&Session=2600 |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20FLR/SFLR/SB1280%20SFLR.PDF |
| Fiscal Note/Analysis - Senate: SB1280 INT FI | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/impact%20statements/fiscal/Senate/SB1280%20INT%20FI.PDF |
| Fiscal Note/Analysis - Senate: Introduced | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/BILLSUM/Senate/SB1280%20INT%20BILLSUM.PDF |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/SB/SB1280%20INT.PDF |
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