Okla. Stat. tit. 40, § 40-6-205
This is the official text of Okla. Stat. tit. 40, § 40-6-205, part of Oklahoma’s Stat. tit. 40, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 40,." Browse the sections below, each linked to its official government source.
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Technology Fund balance
Official statutory text
TECHNOLOGY FUND BALANCE.
The balance of the OESC Technology Fund on July 1 of any given
year shall be used in the calculation of conditional factors
pursuant to Section 3-113 of this title as long as the OESC
Technology Fund has a balance greater than zero (0).
The balance of the fund shall not exceed Twenty-five Million
Dollars ($25,000,000.00) prior to June 30, 2024, or be greater than
the calculated amount of Twenty-five Million Dollars
Oklahoma Statutes - Title 40. Labor Page 193
($25,000,000.00). All funds in excess of these amounts shall be
transferred to the Unemployment Compensation Fund.
The calculation shall be conducted in the following manner: The
balance of the OESC Technology Fund as of July 1 of any given year
shall be aggregated with the balance of the Unemployment
Compensation Fund as of July 1 of the same year, with the resulting
sum to be used in the calculation of the conditional factors as set
out in Section 3-113 of this title. The aggregate of the two fund
balances shall only be for the purpose of the calculation and in no
way shall balances in these two funds be commingled.
The balance of the OESC Technology Fund on July 1 of any given
year shall be used in the calculation of conditional factors
pursuant to Section 3-113 of this title as long as the OESC
Technology Fund has a balance greater than zero (0).
The balance of the fund shall not exceed Twenty-five Million
Dollars ($25,000,000.00) prior to June 30, 2024, or be greater than
the calculated amount of Twenty-five Million Dollars
Oklahoma Statutes - Title 40. Labor Page 193
($25,000,000.00). All funds in excess of these amounts shall be
transferred to the Unemployment Compensation Fund.
The calculation shall be conducted in the following manner: The
balance of the OESC Technology Fund as of July 1 of any given year
shall be aggregated with the balance of the Unemployment
Compensation Fund as of July 1 of the same year, with the resulting
sum to be used in the calculation of the conditional factors as set
out in Section 3-113 of this title. The aggregate of the two fund
balances shall only be for the purpose of the calculation and in no
way shall balances in these two funds be commingled.
Status: in_force · Read it on the official government site
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