Okla. Stat. tit. 17, § 17-180.10

maintenance level - Additional excise tax.

A. There is hereby created in the State Treasury a fund for the

Corporation Commission to be designated the “Corporation Commission

Plugging Fund”. The plugging fund shall consist of monies received

by the Corporation Commission as required by law to be deposited to

the credit of the fund. The fund shall be a continuing fund not

subject to fiscal year limitations and shall not be subject to

legislative appropriations. Expenditures from the plugging fund

shall be made pursuant to the laws of this state and the statutes

relating to the Corporation Commission. For each fiscal year, the

Commission may expend not more than eight percent (8%) of the total

amount deposited to the credit of the plugging fund during the

previous fiscal year for the purpose of responding to occurrences of

seeping natural gas as provided for in Section 317.1 of Title 52 of

the Oklahoma Statutes. In addition, expenditures from the plugging

fund may be made pursuant to the Oklahoma Central Purchasing Act,

Section 85.1 et seq. of Title 74 of the Oklahoma Statutes, for

purposes of immediately responding to emergency situations, within

the Commission’s jurisdiction, having potentially critical

environmental or public safety impact. Warrants for expenditures

from the fund shall be drawn by the State Treasurer, based on claims

signed by an authorized employee of the Corporation Commission and

Oklahoma Statutes - Title 17. Corporation Commission Page 152

approved for payment by the Director of the Office of Management and

Enterprise Services. The provisions of this act or rules

promulgated pursuant thereto shall not be construed to relieve or in

any way diminish the surety bonding requirements required by Section

318.1 of Title 52 of the Oklahoma Statutes.

B. Prior to July 1, 2031, the plugging fund shall be maintained

at Five Million Dollars ($5,000,000.00). If the plugging fund falls

below the five-million-dollar maintenance level, the Corporation

Commission shall notify the Oklahoma Tax Commission that the

plugging fund has fallen below the required maintenance level and

that the excise tax which has been levied by subsection A of Section

1101 of Title 68 of the Oklahoma Statutes and subsection A of

Section 1102 of Title 68 of the Oklahoma Statutes which is credited

and apportioned to the Corporation Commission Plugging Fund pursuant

to Section 1103 of Title 68 of the Oklahoma Statutes is to be

imposed. Such additional excise tax shall be imposed and collected

until such time as is necessary to meet the additional five-million-

dollar maintenance level. The Tax Commission shall notify the

persons responsible for payment of the excise tax on oil and gas of

the imposition of such tax. The provisions of this subsection shall

terminate on July 1, 2031.