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Subject: RELEASE: Budget Chair Wallace Proposes Revenue Solution for Special Session
Date: September 12, 2017 at 9:37 AM
To: Jason Sutton Jason.Sutton@okhouse.gov
Wallaces plan would involve passing the cigarette tax, using a portion of existing cash, utilizing 25 percent of the Rainy Day Fund and
modifying tribal gaming to allow ball and dice games in exchange for vehicle registration rebates paid to the tribes. Eliminating the rebates would
only apply to the tribes that adopt modified gaming.
When the Supreme Court overturned the cigarette fee, it created a situation for our state agencies similar to a revenue failure, said Wallace, R-
Wellston. As a Legislature, we need to address the lost revenue. My plan would not only provide the lost revenue, but it would provide recurring
revenue for the Legislature to utilize in next years budget hole and beyond without burdening citizens. My hope is the Legislature would come
together in a bipartisan way for the states best interest and not for personal interest.
Cigare'e Tax Increase of $1.50 per pack equivalent (6 month) $128,920,413 $257,840,000
FY-17 Prior Year General Revenue Fund Cash ($83,500,000) 51,680,322 31,819,678
Net $0