Income tax; eliminating certain certification requirement; eliminating requirement to reduce tax rates upon certain certification. Effective date.

Summary

The bill removes the requirement that the State Board of Equalization certify average oil, gas, and corporate income tax revenues and eliminates the rule that forces income‑tax rate reductions when those certifications show excess revenue. By doing so, it would keep tax rates unchanged and simplify the board’s responsibilities. The change would affect state revenue calculations and Oklahoma taxpayers.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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