OK HB2777

Amends 68 O.S. Section 2902 to modify the ad valorem tax exemption process for qualifying manufacturing facilities, transferring application review authority from county assessors to the Oklahoma Tax Commission.

Allows manufacturing facilities to apply for exemptions directly with the Oklahoma Tax Commission (instead of county assessors) and establishes that the Tax Commission shall examine and approve or reject applications in the same manner as homestead exemptions.

Permits counties and local taxing jurisdictions to submit reimbursement claims for lost ad valorem tax revenue to the Ad Valorem Reimbursement Fund using United States mail with return receipt, other certified mail services, or reliable email systems with proof of receipt to the Oklahoma Tax Commission.

Modifies 62 O.S. Section 193 to clarify that all local taxing jurisdictions (not just counties) are eligible to file claims for reimbursement from the Ad Valorem Reimbursement Fund for lost revenue due to manufacturing facility exemptions and other statutory exemptions.

Becomes effective November 1, 2012.