Oklahoma City (August 10, 2018) – Governor Fallin signed an executive proclamation today putting State Question 800 on the November 6 ballot. SQ 800 puts five percent of existing tax revenue from oil and natural gas production into an investment fund—called the Oklahoma Vision Fund—that would be managed by the Oklahoma State Treasurer. Income from the fund would be placed in the state’s general revenue fund to supplement and stabilize the state budget.
The State Chamber of Oklahoma and the State Chamber Research Foundation released statements today following the placement of State Question 800 on the ballot:
“State Question 800 creates the Oklahoma Vision Fund to secure a stronger, more stable fiscal future for Oklahoma,” said State Chamber Research Foundation Executive Director, Dr. Jennifer Lepard. “Without raising taxes, SQ 800 will provide a new source of revenue to smooth budget volatility amid a fluctuating economy.”
“The Oklahoma Vision Fund is a step forward for our state in ensuring better preparation and protection are given to core services,” said State Chamber President and CEO, Fred Morgan. “SQ 800 does not increase taxes on any voter, company or industry and will allow Oklahoma greater fiscal stability in times of economic trouble.”