Oklahoma § 68-707.1 - Additional excise tax on special fuel - Levy Exemptions - Disposition of revenues

§ 68-707.1. Additional excise tax on special fuel - Levy Exemptions - Disposition of revenues

A. In addition to the excise taxes levied by Sections 703 and

705 of this title, there is hereby levied an excise tax of two and

one-half cents ($0.025) upon the use within this state of each and

every gallon of special fuel, which shall be reported and collected

in the same manner as provided by law for the reporting and

collecting of all other tax levies upon the use of special fuel

within this state.

B. The tax levied by this section shall not apply to special

fuel which is exempt from tax under the provisions of Section 708 of

this title.

C. The excise tax of two and one-half cents ($0.025) per gallon

of special fuel levied in this section, together with any interest

and penalties thereon, collected by the Tax Commission shall be

apportioned monthly as follows:

Two cents ($0.02) of the two and one-half cents ($0.025),

together with any interest and penalties thereon, shall be

apportioned according to the provisions of paragraph 1 of Section

704 of this title.

Oklahoma Statutes - Title 68. Revenue and Taxation

Eighty-seven and five-tenths of one percent (87.5 of 1%) of the

one-half of one cent ($0.005) of the two and one-half cents

($0.025), together with any interest and penalties thereon, shall be

distributed to the various counties of the state for deposit into

the County Bridge and Road Improvement Fund of each county based on

a formula developed by the Department of Transportation and approved

by the Department of Transportation County Advisory Board created

pursuant to Section 302.1 of Title 69 of the Oklahoma Statutes to be

used for the purposes set forth in the County Bridge and Road

Improvement Act. The formula shall be similar to the formula

currently used for the distribution of monies in the County Bridge

Program funds, but shall also take into consideration the effect of

the terrain and traffic volume as related to county road improvement

and maintenance costs. Twelve and five-tenths of one percent (12.5

of 1%) of the one-half of one cent ($0.005) of the two and one-half

cents ($0.025), together with any interest and penalties thereon,

shall be transmitted by the Tax Commission to the Statewide Circuit

Engineering District Revolving Fund as created in Section 687.2 of

Title 69 of the Oklahoma Statutes.

Added by Laws 1984, c. 139, § 5, emerg. eff. April 16, 1984.

Amended by Laws 1985, c. 179, § 83, operative July 1, 1985; Laws

1997, c. 284, § 14, eff. July 1, 1997; Laws 2010, c. 256, § 3, eff.

July 1, 2010.