Oklahoma Legislature to begin 2015 session with $300M hole in the budget likely to grow larger

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OKLAHOMA CITY — With sliding oil prices expected to deepen a $300 million hole in next year's budget, Oklahoma lawmakers will have to be creative as they attempt to balance a growing list of demands for state resources with a dwindling amount of available revenue.

Oklahoma's legislative session begins Monday and Republican Gov. Mary Fallin will unveil her executive budget proposal as she delivers her State of the State Address to members of the GOP-controlled House and Senate.

Fallin has said education, health care and public safety will be her priorities for the upcoming session, but finding the money to pay for those things won't be easy.

Fallin and Senate President Pro Tem Brian Bingman have suggested lawmakers consider an estimated $900 million in agency revolving funds to help close the budget gap.

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