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Oklahoma Oil & Gas & Education Funding - KOAM TV 7

Oklahoma Oil & Gas & Education Funding

Oklahoma Oil & Gas & Education Funding

Updated:

From Associated Press -

OKLAHOMA CITY (AP) - The Oklahoma Supreme Court says an initiative petition seeking a public vote on whether to increase the oil and gas production tax to help fund education can move forward.

The court ruled on Monday that the petition is "legally sufficient" to be submitted to a vote of the people. Supporters will now have a 90-day window to gather about 124,000 signatures.

The Oklahoma Independent Petroleum Association argued the proposal created an unconstitutional retroactive tax and violated the single-subject rule. The court disagreed.

The proposal by Restore Oklahoma Now, Inc. would increase the tax on oil and gas production in Oklahoma by 5 percent. About 90 percent of the revenue would be earmarked for a $4,000 teacher raise, with the rest aimed at early education programs.

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