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State Question 800 | Creating fund for investment of 5% oil & gas development tax revenue

(KOKH/FILE)

State Question 800 -- the Oklahoma Oil and Gas Development Tax Revenue Investment Fund Amendment -- adds a provision to the constitution creating a new trust fund called the Oklahoma Vision Fund, which would then be invested by the state treasurer.

Beginning July 1, 2020, 5 percent of the state's oil and gas production tax revenue will be deposited into the fund. The deposit would increase by 0.2 percent each year. Four percent of the fund's principal will be transferred yearly into the general revenue fund.

The measure would prohibit any more than 5 percent of the Oklahoma Vision Fund from being spent to pay bond debt or pay back other financing mechanisms under the amendment.

State Question 800 made it on the November ballot after lawmakers voted to put it before Oklahoma voters.

Some information provided by Ballotpedia.

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