After the legislature’s unanimous approval for what would become State Question 800, and the subsequent failure at the ballot, Sen. John Michael Montgomery and Rep. Kyle Hilbert announced their intention to re-introduce the concept.
“How our state manages its oil and gas wealth is unsustainable. Running from crisis to crisis is no way to govern. The Vision Fund strategy has been proven to work in other states,” said Montgomery, R-Lawton. “What I heard during this past campaign from those opposed to the Vision Fund was not an opposition to the concept, but an opposition to certain details within the proposal. I am committed to working with stakeholders on all sides to take this from a concept to reality."
The Vision Fund would take a small portion of Gross Production Tax proceeds and invest them similar to other trust funds such as TSET. Returns would fund state government functions like education and infrastructure.
Hilbert stated the need for cooperation to make improvements to last year's proposal.
"Many of the opponents of SQ800 agreed that our state is in dire need of long-term, sustainable budget policy. I am committed to working with those organizations to develop a policy that is beneficial for all of Oklahoma,” said Hilbert, R-Bristow. “It is imperative that we bring forth solutions that will bring a level of stability to our state's budget. The Vision Fund concept can bring us that needed stability."