DALLAS — Oklahoma Gov. Brad Henry and Republican leaders in the Legislature reached an agreement late last week on a proposed $6.7 billion general fund budget for fiscal 2011 that relies on more than $1 billion of one-time money to cover a revenue shortfall estimated at $1.2 billion.

The Senate and the House passed SB 1561 late Friday after months of negotiations between the Democratic governor and Republican lawmakers.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.