HJR 1087 Summary

• Directs the Secretary of State to refer a proposed constitutional amendment to Section 6B of Article X to Oklahoma voters for approval or rejection.

• Modifies reimbursement provisions for local taxing jurisdictions (schools, counties, cities, emergency services, vocational schools, junior colleges, health departments, and libraries) affected by the manufacturing property tax exemption.

• Changes reimbursement calculation to be based solely on the net assessed value of land and improvements from the last tax year before exemption takes effect, excluding any increased value that occurs during the exemption period.

• Provides ballot language explaining that local governments would receive fixed reimbursements based on pre-exemption property values rather than increased values after manufacturing operations begin.

• Requires filing of the resolution with the Secretary of State and Attorney General upon passage.