OK HB2355

Changes reimbursement for ad valorem tax exemptions from local taxing jurisdictions to qualifying manufacturing concerns directly, administered as a rebate after taxes are paid annually.

Modifies 62 O.S. 2011, Section 193 to establish legislative findings that the current reimbursement method creates budgeting difficulties and administrative errors for local jurisdictions.

Prioritizes reimbursement claims for manufacturing concerns first, with remaining funds distributed proportionally to counties for school district/county exemptions and buffer strip valuations.

Requires qualifying manufacturing concerns to file claims for reimbursement on Tax Commission forms prior to April 30 each year, with claims approved or disapproved by June 15.

Becomes effective November 1, 2012.