Oklahoma has a constitutional tax and expenditure limit under Article X Section 23 under the State Balanced Budget Amendment. Enacted in 1985, it restricts appropriations to 95% of estimated revenues for the forthcoming and appropriations growth may not exceed 12% plus inflation. Revenues in excess of the appropriations limitation must be deposited in a budget reserve fund. The budget reserve fund is allowed to be used when revenues fall and is contingent upon a declaration of emergency and a supermajority legislative vote.
Oklahoma also has stringent constitutional requirements on raising taxes, Article V Section 33. This requires that any bill intending to raise revenue must either be approved by the majority of voters or a 3/4 supermajority in the legislature.
Year | Inflation-adjusted Actual Spending |
---|---|
1992 | 9,577,200,000 |
1993 | 9,620,000,000 |
1994 | 9,626,750,000 |
1995 | 9,536,830,000 |
1996 | 9,884,990,000 |
1997 | 10,299,330,000 |
1998 | 10,753,010,000 |
1999 | 10,955,710,000 |
2000 | 12,067,500,000 |
2001 | 12,731,200,000 |
2002 | 13,204,800,000 |
2003 | 12,367,110,000 |
2004 | 11,608,010,000 |
2005 | 11,396,770,000 |
2006 | 14,131,200,000 |
2007 | 12,420,000,000 |
2008 | 14,039,280,000 |
2009 | 14,431,670,000 |
2010 | 13,706,420,000 |
2011 | 15,608,950,000 |
2012 | 15,604,170,000 |
2013 | 16,402,470,000 |
2014 | 16,108,020,000 |
2015 | 16,367,440,000 |
2016 | 16,045,560,000 |
2017 | 17,040,560,000 |
2018 | 15,601,410,000 |
2019 | 15,836,800,000 |
2020 | 16,037,000,000 |