Constitution; Vote of the People; ad valorem reimbursement; levels and methodologies of reimbursement in line with a certain purpose; requiring amounts be included in assessed valuation of taxable property for certain purposes; providing ballot title; and directing filing.

Summary

The resolution would add a new Section 6B to the Oklahoma Constitution that exempts qualifying manufacturing facilities from ad valorem taxes for five years. It also directs the Legislature to create rules that reimburse schools, counties, cities, and other local entities for the revenue they lose because of the exemption, and to count those reimbursements when calculating local debt limits. Counties could later keep a portion of the recovered taxes for economic‑development incentives if voters approve.

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