The court ruled on Monday that the petition is "legally sufficient" to be submitted to a vote of the people. Supporters will now have a 90-day window to gather about 124,000 signatures.
The Oklahoma Independent Petroleum Association argued the proposal created an unconstitutional retroactive tax and violated the single-subject rule. The court disagreed.
The proposal by Restore Oklahoma Now, Inc. would increase the tax on oil and gas production in Oklahoma by 5 percent. About 90 percent of the revenue would be earmarked for a $4,000 teacher raise, with the rest aimed at early education programs.