- A. Sections 1 through 5 of this act shall be known and may be cited as the "Taxpayer Endowment Trust Fund Act".
B.
- 1. The Legislature finds that Oklahoma’s long-term economic growth and fiscal stability are best served by policies that promote savings, investment, and reduced reliance on income taxation.
- 2. The Legislature further finds that states with an abundance of energy resources that preserve and grow a portion of those revenues through investments enjoy lower taxes and budget stability.
- 3. Establishing a sovereign wealth fund enables states to convert public funds into a permanent financial asset that generates long-term investment income for public purposes.
- 4. It is therefore the intent of the Legislature to create a trust fund that produces a significant and sustainable revenue stream, preserves and protects its principal, and over time, provides taxpayer relief by replacing income tax revenue through the power of recurring investment and compounding interest.
- 5. The trust fund should provide a means of conserving a portion of the state’s revenues, especially driven by energy resources, to benefit all generations of Oklahomans.
- 6. The trust fund should work in concert with efforts to reduce and eliminate income tax.
- 7. The trust fund’s performance goal should seek market returns during the fund’s growth phase lockout period.
- 8. After the lockout phase, the trust fund’s performance goal should be to maintain safety of principal while maximizing the total return.
Laws 2026, HB 4072, c. 51, § 1.