OKLAHOMA CITY (AP) - Citing technical errors, Gov. Brad Henry
has vetoed a bill to create an energy stabilization fund designed
to reduce the volatility in state revenue collections.
The bill was among 22 measures Henry vetoed on Friday as he
wrapped up work on legislation approved during the 2010 session. He
also signed 43 bills into law.
The energy stabilization fund was a top priority of Republican
House Speaker Chris Benge and passed the Legislature with
bipartisan support. The idea was to establish a three-year average
of oil and gas tax collections, and set aside a portion when prices
are high to help bolster the state budget when prices are low.
Henry said he supported the concept but that the bill contained
"numerous technical errors."