HJR 1061 Summary

• Proposes an amendment to Section 6A of Article X of the Oklahoma Constitution regarding taxation of intangible personal property.

• Corrects internal constitutional references and fixes a misspelling ("volorem" to "valorem").

• Exempts specified intangible personal property from ad valorem tax and taxes in lieu of ad valorem tax, including money, deposits, accounts receivable, bonds, stocks, trust interests, judgments, and annuities.

• Amendment effective date January 1, 1969, though intangible property taxes for 1968 shall still be collected.

• Directs Secretary of State to refer the proposed amendment to voters with specified ballot title language.