HB 4072: Public Finance; creating the Taxpayer Endowment Trust Fund Act; creating the Taxpayer Endowment Trust Fund; effective date; emergency. - Oklahoma

House Committee Substitute → Floor (House) · 3 edits

MINOR

The bill was updated from a House Committee Substitute version to the Floor version, primarily involving formatting adjustments, renumbering of sections, and the removal of specific legislative history text. The core policy content, including the creation of the Taxpayer Endowment Trust Fund and its investment rules, remains substantively unchanged.

Scope change

No substantive change to the bill's scope or applicability; changes are limited to formatting and document structure.

TECHNICAL

The header was updated to reflect the 'Floor Version' of the bill, replacing the 'Committee Substitute' label in the title block.

Section numbers and the preamble text were renumbered and reformatted to align with the floor version's layout, though the legal content of the sections remains identical.

Specific page reference text (e.g., 'Req. No. 17420') and some internal legislative history notes were removed during the transition to the floor version.

Proposed Committee Substitute (full committee) 1 → House Committee Substitute · 2 edits

MINOR

The bill was amended to update its title from 'Proposed Committee Substitute' to 'Committee Substitute,' reflecting its progression through the legislative process. The amendment also renumbered the page headers and updated the reference number for the bill document. No substantive policy changes, such as new funding rules, eligibility criteria, or legal definitions, were introduced in this specific diff.

Scope change

The bill's scope and applicability remain unchanged; this is a procedural update regarding the bill's version and document formatting.

TECHNICAL

The bill title was changed from 'Proposed Committee Substitute' to 'Committee Substitute' to reflect the current stage of the legislation.

Page reference numbers and document requirement numbers were updated to match the new version of the bill.

Enrolled (final version) → Proposed Committee Substitute (full committee) 1 · 3 edits

MINOR

The bill text was reformatted from an enrolled final version to a proposed committee substitute, which includes a new amendment header and updated page numbering. The substantive legislative content, including the creation of the Taxpayer Endowment Trust Fund, investment standards, and statutory amendments, remains identical to the original version.

Scope change

No substantive change to the bill's scope, applicability, or policy provisions; changes are limited to formatting and document metadata.

TECHNICAL

Added a committee amendment header indicating the bill is being amended by Trey Caldwell and includes adoption signature lines.

Updated the bill title page to reflect 'Proposed Committee Substitute' status with new page numbering and request number 17252.

Reformatted the text layout to align with committee amendment markup standards while preserving all original statutory language.

Engrossed → Enrolled (final version) · 2 edits · Apr 22, 2026

MINOR

The bill was finalized and formatted for official enactment, removing internal drafting notes and page headers while retaining the core legislative text. No substantive policy changes, definitions, or legal requirements were altered between the Engrossed and Enrolled versions.

TECHNICAL

Removed internal drafting markers, page numbers, and transitional text used during the legislative process.

Added final formatting headers and subject lines required for the official enrolled version of the bill.

Introduced → Engrossed · 4 edits · Apr 16, 2026

MODERATE

The bill was renamed from the 'Public Finance Act of 2026' to the 'Taxpayer Endowment Trust Fund Act' and expanded from a simple non-codified declaration into a comprehensive law creating a sovereign wealth fund. The new version establishes specific definitions for terms like 'Corpus' and 'Distributable earnings,' outlines legislative intent to reduce reliance on income taxes, and sets performance goals for the fund's investments.

Scope change

The bill's scope significantly expanded from a brief procedural act to a substantive law creating a new permanent trust fund with detailed rules for administration, investment, and reporting.

SCOPE

The bill title and name were changed from 'Public Finance Act of 2026' to 'Taxpayer Endowment Trust Fund Act' to reflect the creation of a specific new fund.

DEFINITION

New definitions were added for key terms including 'Appreciation,' 'Board,' 'Corpus,' 'Distributable earnings,' 'Earnings,' 'Interest,' and 'Trust Fund' to clarify how the fund operates.

REQUIREMENT

Substantive requirements were added to establish the fund's purpose, including goals to preserve principal, generate sustainable revenue, and eventually replace income tax revenue.

TECHNICAL

The bill was changed from a non-codified act to a codified law that amends specific sections of the Oklahoma Statutes (Titles 62 and 68) regarding the Revenue Stabilization Fund and Invest in Oklahoma Board.

Public Finance; creating the Taxpayer Endowment Trust Fund Act; creating the Taxpayer Endowment Trust Fund; effective date; emergency.

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