Okla. Stat. tit. 36, § 36-312.1
This is the official text of Okla. Stat. tit. 36, § 36-312.1, part of Oklahoma’s Stat. tit. 36, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 36,." Browse the sections below, each linked to its official government source.
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Report, disbursement and appropriation of fees and taxes
Official statutory text
- Record and statement - Annual reports.
A. For the fiscal year ending June 30, 2004, the Insurance
Commissioner shall report and disburse one hundred percent (100%) of
the fees and taxes collected under Section 624 of this title to the
State Treasurer to be deposited to the credit of the Education
Reform Revolving Fund of the State Department of Education. The
Insurance Commissioner shall keep an accurate record of all such
funds and make an itemized statement and furnish same to the State
Auditor and Inspector, as to all other departments of this state.
The report shall be accompanied by an affidavit of the Insurance
Commissioner or the Chief Clerk of such office certifying to the
correctness thereof.
B. The Insurance Commissioner shall apportion an amount of the
taxes and fees received from Section 624 of this title, which shall
be at least One Million Two Hundred Fifty Thousand Dollars
($1,250,000.00) each year, but which shall also be computed on an
annual basis by the Commissioner as the amount of insurance premium
Oklahoma Statutes - Title 36. Insurance Page 99
tax revenue loss attributable to the provisions of subsection H of
Section 625.1 of this title and increased if necessary to reflect
the annual computation, and which shall be apportioned before any
other amounts, as follows:
1. The following amounts shall be paid to the Oklahoma
Firefighters Pension and Retirement Fund in the manner provided for
in Sections 49-119, 49-120 and 49-123 of Title 11 of the Oklahoma
Statutes:
Fiscal Year Amount
FY 2006 through FY 2020 65.0%
FY 2021 as follows:
a. for the month beginning July 1,
2020, through the month ending
August 31, 2020 65.0%
b. for the month beginning September
1, 2020, through the month ending
June 30, 2021 45.5%
FY 2022 and each fiscal year thereafter 65.0%;
2. The following amounts shall be paid to the Oklahoma Police
Pension and Retirement System pursuant to the provisions of Sections
50-101 through 50-136 of Title 11 of the Oklahoma Statutes:
Fiscal Year Amount
FY 2006 through FY 2020 26.0%
FY 2021 as follows:
a. for the month beginning July 1,
2020, through the month ending
August 31, 2020 26.0%
b. for the month beginning September
1, 2020, through the month ending
June 30, 2021 18.2%
FY 2022 and each fiscal year thereafter 26.0%;
3. The following amounts shall be paid to the Law Enforcement
Retirement Fund:
Fiscal Year Amount
FY 2006 through FY 2020 9.0%
FY 2021 as follows:
a. for the month beginning July 1,
2020, through the month ending
August 31, 2020 9.0%
b. for the month beginning September
1, 2020, through the month ending
June 30, 2021 6.3%
FY 2022 and each fiscal year thereafter 9.0%; and
4. The following amounts shall be paid to the Education Reform
Revolving Fund of the State Department of Education:
Fiscal Year Amount
FY 2021 as follows:
Oklahoma Statutes - Title 36. Insurance Page 100
for the month beginning September 1,
2020, through the month ending June 30,
2021 30.0%.
C. After the apportionment required by subsection B of this
section, for the fiscal years beginning July 1, 2004, and ending
June 30, 2009, the Insurance Commissioner shall report and disburse
all of the fees and taxes collected under Section 624 of this title
and Section 2204 of this title, and the same are hereby apportioned
as follows:
1. Thirty-four percent (34%) of the taxes collected on premiums
shall be allocated and disbursed for the Oklahoma Firefighters
Pension and Retirement Fund, in the manner provided for in Sections
49-119, 49-120 and 49-123 of Title 11 of the Oklahoma Statutes;
2. Seventeen percent (17%) of the taxes collected on premiums
shall be allocated and disbursed to the Oklahoma Police Pension and
Retirement System pursuant to the provisions of Sections 50-101
through 50-136 of Title 11 of the Oklahoma Statutes;
3. Six and one-tenth percent (6.1%) of the taxes collected on
vided for in Sections
49-119, 49-120 and 49-123 of Title 11 of the Oklahoma Statutes;
2. Seventeen percent (17%) of the taxes collected on premiums
shall be allocated and disbursed to the Oklahoma Police Pension and
Retirement System pursuant to the provisions of Sections 50-101
through 50-136 of Title 11 of the Oklahoma Statutes;
3. Six and one-tenth percent (6.1%) of the taxes collected on
premiums shall be allocated and disbursed to the Law Enforcement
Retirement Fund; and
4. All the balance and remainder of the taxes and fees provided
in Section 624 of this title shall be paid to the State Treasurer to
the credit of the General Revenue Fund of the state to provide
revenue for general functions of state government. The Insurance
Commissioner shall keep an accurate record of all such funds and
make an itemized statement and furnish same to the State Auditor and
Inspector, as to all other departments of this state. The report
shall be accompanied by an affidavit of the Insurance Commissioner
or the Chief Clerk of such office certifying to the correctness
thereof.
D. After the apportionment required by subsection B of this
section, the Insurance Commissioner shall report and disburse all of
the fees and taxes collected under Section 624 of this title and
Section 2204 of this title, and the same are hereby apportioned as
follows:
1. Of the taxes collected on premiums the following shall be
allocated and disbursed for the Oklahoma Firefighters Pension and
Retirement Fund, in the manner provided for in Sections 49-119, 49-
120 and 49-123 of Title 11 of the Oklahoma Statutes:
Fiscal Year Amount
FY 2006 through FY 2020 36.0%
FY 2021 as follows:
a. for the month beginning July 1,
2020, through the month ending
August 31, 2020 36.0%
Oklahoma Statutes - Title 36. Insurance Page 101
b. for the month beginning September
1, 2020, through the month ending
June 30, 2021 25.2%
FY 2022 36.0%
FY 2023 through FY 2027 37.8%
FY 2028 and each fiscal year thereafter 36.0%;
2. Of the taxes collected on premiums the following shall be
allocated and disbursed to the Oklahoma Police Pension and
Retirement System pursuant to the provisions of Sections 50-101
through 50-136 of Title 11 of the Oklahoma Statutes:
Fiscal Year Amount
FY 2006 through FY 2020 14.0%
FY 2021 as follows:
a. for the month beginning July 1,
2020, through the month ending
August 31, 2020 14.0%
b. for the month beginning September
1, 2020, through the month ending
June 30, 2021 9.8%
FY 2022 14.0%
FY 2023 through FY 2027 14.7%
FY 2028 and each fiscal year thereafter 14.0%;
3. Of the taxes collected on premiums the following shall be
allocated and disbursed to the Law Enforcement Retirement Fund:
Fiscal Year Amount
FY 2006 through FY 2020 5.0%
FY 2021 as follows:
a. for the month beginning July 1,
2020, through the month ending
August 31, 2020 5.0%
b. for the month beginning September
1, 2020, through the month ending
June 30, 2021 3.5%
FY 2022 5.0%
FY 2023 through FY 2027 5.25%
FY 2028 and each fiscal year thereafter 5.0%;
4. The following amounts shall be paid to the Education Reform
Revolving Fund of the State Department of Education:
Fiscal Year Amount
FY 2021 as follows:
for the month beginning September 1,
2020, through the month ending June 30,
2021 16.5%;
5. In addition to the allocations made pursuant to paragraphs
1, 2 and 3 of this subsection, of the taxes collected on premiums
the following amounts shall be allocated and disbursed annually for
FY 2023 through FY 2027:
Oklahoma Statutes - Title 36. Insurance Page 102
a. Forty Thousand Six Hundred Twenty-five Dollars
($40,625.00) to the Oklahoma Firefighters Pension and
Retirement Fund,
b. Sixteen Thousand Two Hundred Fifty Dollars
($16,250.00) to the Oklahoma Police Pension and
Retirement System, and
c. Five Thousand Six Hundred Twenty-five Dollars
($5,625.00) to the Oklahoma Law Enforcement Retirement
Fund; and
Statutes - Title 36. Insurance Page 102
a. Forty Thousand Six Hundred Twenty-five Dollars
($40,625.00) to the Oklahoma Firefighters Pension and
Retirement Fund,
b. Sixteen Thousand Two Hundred Fifty Dollars
($16,250.00) to the Oklahoma Police Pension and
Retirement System, and
c. Five Thousand Six Hundred Twenty-five Dollars
($5,625.00) to the Oklahoma Law Enforcement Retirement
Fund; and
6. All the balance and remainder of the taxes and fees provided
in Section 624 of this title shall be paid to the State Treasurer to
the credit of the General Revenue Fund of the state to provide
revenue for general functions of state government. The Insurance
Commissioner shall keep an accurate record of all such funds and
make an itemized statement and furnish same to the State Auditor and
Inspector, as to all other departments of this state. The report
shall be accompanied by an affidavit of the Insurance Commissioner
or the Chief Clerk of such office certifying to the correctness
thereof.
E. The disbursements provided for in subsections A, B, C and D
of this section shall be made monthly. The Insurance Commissioner
shall report annually to the Governor, the Speaker of the House of
Representatives, the President Pro Tempore of the Senate and the
State Auditor and Inspector, the amounts collected and disbursed
pursuant to this section.
F. Notwithstanding any other provision of law to the contrary,
no tax credit authorized by law enacted on or after July 1, 2008,
which may be used to reduce any insurance premium tax liability
shall be used to reduce the amount of insurance premium tax revenue
apportioned to the Oklahoma Firefighters Pension and Retirement
System, the Oklahoma Police Pension and Retirement System, the
Oklahoma Law Enforcement Retirement System or the Education Reform
Revolving Fund.
A. For the fiscal year ending June 30, 2004, the Insurance
Commissioner shall report and disburse one hundred percent (100%) of
the fees and taxes collected under Section 624 of this title to the
State Treasurer to be deposited to the credit of the Education
Reform Revolving Fund of the State Department of Education. The
Insurance Commissioner shall keep an accurate record of all such
funds and make an itemized statement and furnish same to the State
Auditor and Inspector, as to all other departments of this state.
The report shall be accompanied by an affidavit of the Insurance
Commissioner or the Chief Clerk of such office certifying to the
correctness thereof.
B. The Insurance Commissioner shall apportion an amount of the
taxes and fees received from Section 624 of this title, which shall
be at least One Million Two Hundred Fifty Thousand Dollars
($1,250,000.00) each year, but which shall also be computed on an
annual basis by the Commissioner as the amount of insurance premium
Oklahoma Statutes - Title 36. Insurance Page 99
tax revenue loss attributable to the provisions of subsection H of
Section 625.1 of this title and increased if necessary to reflect
the annual computation, and which shall be apportioned before any
other amounts, as follows:
1. The following amounts shall be paid to the Oklahoma
Firefighters Pension and Retirement Fund in the manner provided for
in Sections 49-119, 49-120 and 49-123 of Title 11 of the Oklahoma
Statutes:
Fiscal Year Amount
FY 2006 through FY 2020 65.0%
FY 2021 as follows:
a. for the month beginning July 1,
2020, through the month ending
August 31, 2020 65.0%
b. for the month beginning September
1, 2020, through the month ending
June 30, 2021 45.5%
FY 2022 and each fiscal year thereafter 65.0%;
2. The following amounts shall be paid to the Oklahoma Police
Pension and Retirement System pursuant to the provisions of Sections
50-101 through 50-136 of Title 11 of the Oklahoma Statutes:
Fiscal Year Amount
FY 2006 through FY 2020 26.0%
FY 2021 as follows:
a. for the month beginning July 1,
2020, through the month ending
August 31, 2020 26.0%
b. for the month beginning September
1, 2020, through the month ending
June 30, 2021 18.2%
FY 2022 and each fiscal year thereafter 26.0%;
3. The following amounts shall be paid to the Law Enforcement
Retirement Fund:
Fiscal Year Amount
FY 2006 through FY 2020 9.0%
FY 2021 as follows:
a. for the month beginning July 1,
2020, through the month ending
August 31, 2020 9.0%
b. for the month beginning September
1, 2020, through the month ending
June 30, 2021 6.3%
FY 2022 and each fiscal year thereafter 9.0%; and
4. The following amounts shall be paid to the Education Reform
Revolving Fund of the State Department of Education:
Fiscal Year Amount
FY 2021 as follows:
Oklahoma Statutes - Title 36. Insurance Page 100
for the month beginning September 1,
2020, through the month ending June 30,
2021 30.0%.
C. After the apportionment required by subsection B of this
section, for the fiscal years beginning July 1, 2004, and ending
June 30, 2009, the Insurance Commissioner shall report and disburse
all of the fees and taxes collected under Section 624 of this title
and Section 2204 of this title, and the same are hereby apportioned
as follows:
1. Thirty-four percent (34%) of the taxes collected on premiums
shall be allocated and disbursed for the Oklahoma Firefighters
Pension and Retirement Fund, in the manner provided for in Sections
49-119, 49-120 and 49-123 of Title 11 of the Oklahoma Statutes;
2. Seventeen percent (17%) of the taxes collected on premiums
shall be allocated and disbursed to the Oklahoma Police Pension and
Retirement System pursuant to the provisions of Sections 50-101
through 50-136 of Title 11 of the Oklahoma Statutes;
3. Six and one-tenth percent (6.1%) of the taxes collected on
vided for in Sections
49-119, 49-120 and 49-123 of Title 11 of the Oklahoma Statutes;
2. Seventeen percent (17%) of the taxes collected on premiums
shall be allocated and disbursed to the Oklahoma Police Pension and
Retirement System pursuant to the provisions of Sections 50-101
through 50-136 of Title 11 of the Oklahoma Statutes;
3. Six and one-tenth percent (6.1%) of the taxes collected on
premiums shall be allocated and disbursed to the Law Enforcement
Retirement Fund; and
4. All the balance and remainder of the taxes and fees provided
in Section 624 of this title shall be paid to the State Treasurer to
the credit of the General Revenue Fund of the state to provide
revenue for general functions of state government. The Insurance
Commissioner shall keep an accurate record of all such funds and
make an itemized statement and furnish same to the State Auditor and
Inspector, as to all other departments of this state. The report
shall be accompanied by an affidavit of the Insurance Commissioner
or the Chief Clerk of such office certifying to the correctness
thereof.
D. After the apportionment required by subsection B of this
section, the Insurance Commissioner shall report and disburse all of
the fees and taxes collected under Section 624 of this title and
Section 2204 of this title, and the same are hereby apportioned as
follows:
1. Of the taxes collected on premiums the following shall be
allocated and disbursed for the Oklahoma Firefighters Pension and
Retirement Fund, in the manner provided for in Sections 49-119, 49-
120 and 49-123 of Title 11 of the Oklahoma Statutes:
Fiscal Year Amount
FY 2006 through FY 2020 36.0%
FY 2021 as follows:
a. for the month beginning July 1,
2020, through the month ending
August 31, 2020 36.0%
Oklahoma Statutes - Title 36. Insurance Page 101
b. for the month beginning September
1, 2020, through the month ending
June 30, 2021 25.2%
FY 2022 36.0%
FY 2023 through FY 2027 37.8%
FY 2028 and each fiscal year thereafter 36.0%;
2. Of the taxes collected on premiums the following shall be
allocated and disbursed to the Oklahoma Police Pension and
Retirement System pursuant to the provisions of Sections 50-101
through 50-136 of Title 11 of the Oklahoma Statutes:
Fiscal Year Amount
FY 2006 through FY 2020 14.0%
FY 2021 as follows:
a. for the month beginning July 1,
2020, through the month ending
August 31, 2020 14.0%
b. for the month beginning September
1, 2020, through the month ending
June 30, 2021 9.8%
FY 2022 14.0%
FY 2023 through FY 2027 14.7%
FY 2028 and each fiscal year thereafter 14.0%;
3. Of the taxes collected on premiums the following shall be
allocated and disbursed to the Law Enforcement Retirement Fund:
Fiscal Year Amount
FY 2006 through FY 2020 5.0%
FY 2021 as follows:
a. for the month beginning July 1,
2020, through the month ending
August 31, 2020 5.0%
b. for the month beginning September
1, 2020, through the month ending
June 30, 2021 3.5%
FY 2022 5.0%
FY 2023 through FY 2027 5.25%
FY 2028 and each fiscal year thereafter 5.0%;
4. The following amounts shall be paid to the Education Reform
Revolving Fund of the State Department of Education:
Fiscal Year Amount
FY 2021 as follows:
for the month beginning September 1,
2020, through the month ending June 30,
2021 16.5%;
5. In addition to the allocations made pursuant to paragraphs
1, 2 and 3 of this subsection, of the taxes collected on premiums
the following amounts shall be allocated and disbursed annually for
FY 2023 through FY 2027:
Oklahoma Statutes - Title 36. Insurance Page 102
a. Forty Thousand Six Hundred Twenty-five Dollars
($40,625.00) to the Oklahoma Firefighters Pension and
Retirement Fund,
b. Sixteen Thousand Two Hundred Fifty Dollars
($16,250.00) to the Oklahoma Police Pension and
Retirement System, and
c. Five Thousand Six Hundred Twenty-five Dollars
($5,625.00) to the Oklahoma Law Enforcement Retirement
Fund; and
Statutes - Title 36. Insurance Page 102
a. Forty Thousand Six Hundred Twenty-five Dollars
($40,625.00) to the Oklahoma Firefighters Pension and
Retirement Fund,
b. Sixteen Thousand Two Hundred Fifty Dollars
($16,250.00) to the Oklahoma Police Pension and
Retirement System, and
c. Five Thousand Six Hundred Twenty-five Dollars
($5,625.00) to the Oklahoma Law Enforcement Retirement
Fund; and
6. All the balance and remainder of the taxes and fees provided
in Section 624 of this title shall be paid to the State Treasurer to
the credit of the General Revenue Fund of the state to provide
revenue for general functions of state government. The Insurance
Commissioner shall keep an accurate record of all such funds and
make an itemized statement and furnish same to the State Auditor and
Inspector, as to all other departments of this state. The report
shall be accompanied by an affidavit of the Insurance Commissioner
or the Chief Clerk of such office certifying to the correctness
thereof.
E. The disbursements provided for in subsections A, B, C and D
of this section shall be made monthly. The Insurance Commissioner
shall report annually to the Governor, the Speaker of the House of
Representatives, the President Pro Tempore of the Senate and the
State Auditor and Inspector, the amounts collected and disbursed
pursuant to this section.
F. Notwithstanding any other provision of law to the contrary,
no tax credit authorized by law enacted on or after July 1, 2008,
which may be used to reduce any insurance premium tax liability
shall be used to reduce the amount of insurance premium tax revenue
apportioned to the Oklahoma Firefighters Pension and Retirement
System, the Oklahoma Police Pension and Retirement System, the
Oklahoma Law Enforcement Retirement System or the Education Reform
Revolving Fund.
Status: in_force · Read it on the official government site
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