Board certifies $8.46B for Oklahoma Legislature to spend
The Associated Press - December 19, 2020 11:44 am
OKLAHOMA CITY (AP) — State finance officials are projecting that Oklahoma lawmakers will have $8.46 billion to spend on next year’s budget, an increase of more than 8% from the current year’s spending plan. The Board of Equalization, led by Gov. Kevin Stitt, certified the projected estimate during a meeting on Friday at the Capitol.
The state’s financial picture has improved in large part because of federal coronavirus relief funds and a shift in the tax filing deadline that led to more tax revenue coming in this fiscal year. Stitt noted that lawmakers also spent about $1 billion in one-time sources on this year’s budget that won’t be available next year.