Enacted Budget – Fiscal Year 2025
On June 12, Oklahoma Governor Kevin Stitt signed the fiscal 2025 budget bill into law. The total budget, which includes the general appropriations bill and other smaller bills, authorizes $12.48 billion in spending, a decrease of $107 million, or 0.9 percent, from fiscal 2024. Certified general fund revenue expenditures total $8.1 billion, which is a 7.1 percent increase from fiscal 2024. Total revenues for fiscal 2024 are projected at $13.56 billion, an increase of $302 million, or 2.3 percent, from fiscal 2024.
Highlights of the fiscal 2024 budget include delivering tax relief for all Oklahomans, ensuring recurring expenditures are in line with recurring revenues, and making targeted, strategic one-time investments whiles preserving Oklahoma’s saving levels. The budget eliminates the 4.5 percent state sales tax on groceries; allocates $350 million for the new Oklahoma Capital Assets Maintenance and Protection fund to cover deferred maintenance at state properties, state parks, and public colleges and universities; provides $240 million for new engineering and science facilities at the University of Oklahoma and Oklahoma State University; and provides $45 million in disaster relief to help tornado-impacted communities.