SB 832 Summary

• Authorizes counties that received less than one-quarter of one percent of gross production tax revenue in fiscal year 2010 to impose a severance tax on rock, gravel, sand, and gypsum within their borders.

• Requires approval by majority vote of registered county voters at a special election before any severance tax can be levied, with a 6-month waiting period before calling another election if voters reject the proposal.

• Allows tax to be initiated either by county commissioners or by initiative petition signed by at least 5% of registered voters, with elections held within 60 days of petition submission.

• Designates that severance tax proceeds be deposited in the county general revenue fund and used only for purposes specified to voters, with tax duration (limited or unlimited) determined at the time of voter approval.

• Authorizes the Oklahoma Tax Commission to assess, collect, and enforce the tax under contract with the county for a fee of 1% of gross collection proceeds, with 60-day notice required before any rate changes take effect.