2015 Oklahoma state budget

2015 (2015) Budget of the Oklahoma state government
Submitted February 3, 2014
Submitted by Mary Fallin
Submitted to 54th Legislature
Total revenue $7 billion (Governor estimated)
Total expenditures $7 billion (Governor requested)
Website Oklahoma Office of Management and Enterprise Services
2014
2016 ›
Main article: Oklahoma state budget

The Oklahoma State Budget for Fiscal Year 2015, is a spending request by Governor Mary Fallin to fund government operations for July 1, 2014 – June 30, 2015. Governor Fallin proposed the budget on February 3, 2014. This was Governor Fallin's fourth budget submitted as governor.

Governor's major issues

Tax cut

In the 2013 legislative session, Governor Fallin requested and the Oklahoma Legislature enacted HB2032 reducing Oklahoma's top marginal income tax rate from 5.25 percent to 5 percent beginning January 1, 2015. The law was subsequently declared unconstitutional by the Oklahoma Supreme Court.[1] Governor Fallin again calls for the enactment of the tax cut, reducing tax revenues an estimated $47.4 million for FY2015.

Funding changes

Agency consolidation

Revenue adjustments

Appropriation reductions

Total spending

Request

The Governor's proposed Executive Budget for 2015 totals $7 billion in spending. Figures shown in the spending request do not reflect the actual appropriations for Fiscal Year 2015, which must be authorized by the Legislature. Percentages in parentheses indicate percentage change compared to Fiscal Year 2014 enacted budget. The budget request is broken down by the following expenditures:

References

  1. State Supreme Court Rejects Tax Cut Law as Unconstitutional, Tulsa World, 2013-12-18

External links

This article is issued from Wikipedia - version of the 6/15/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.