1. A. There is hereby created in the State Treasury a revolving fund for the Oklahoma Professional Boxing Commission to be designated the "Professional Boxing Licensing Revolving Fund". The fund shall be a continuing fund, not subject to fiscal year limitations, and shall consist of all monies received from fees, administrative fines, reimbursements, bond proceeds, and sale of materials, and shall include grants and gifts, pursuant to the Oklahoma Professional Boxing Licensing Act. All monies accruing to the credit of said fund are hereby appropriated and may be budgeted and expended by the State Department of Health as directed by the Commission for the purpose of implementing the provisions of the Oklahoma Professional Boxing Licensing Act; provided, revenue in excess of Three Hundred Thousand Dollars ($300,000.00) during any fiscal year shall be deposited to the credit of the General Revenue Fund of the State Treasury. Expenditures from said fund shall be made upon warrants issued by the State Treasurer against claims filed as prescribed by law with the Director of State Finance for approval and payment.
2. B. The "Oklahoma Professional Boxing Licensing Revolving Fund" created for the Department of Labor is hereby abolished. On July 1, 1999, any unencumbered funds remaining in the Oklahoma Professional Boxing Licensing Revolving Fund shall be transferred to the credit of the Professional Boxing Licensing Revolving Fund. Any unexpended funds remaining in the Oklahoma Professional Boxing Revolving Fund after November 1, 1999, shall be transferred to the credit of the Professional Boxing Licensing Revolving Fund.

Laws 1994, SB 1196, c. 240, § 16, eff. September 1, 1994; Amended by Laws 1999, SB 600, c. 210, § 15, emerg. eff. July 1, 1999 (superseded document available); Amended by Laws 2005, HB 1774, c. 462, § 2, eff. November 1, 2005 (superseded document available).