OK SB935

Amends Oklahoma's ad valorem tax exemption law for manufacturing facilities by adding a new provision (paragraph 9) allowing entities that had exemptions during calendar year 2009 but failed to meet baseline payroll requirements that year to receive a continued exemption

Entities qualifying under the new provision must attain or increase payroll to at least the baseline level established when their original exemption was granted, with the new exemption period beginning January 1 of the first calendar year after the act's effective date

The continued exemption covers the remaining years of the entity's original five-year exemption period, including calendar year 2009

Replaces previous references to "the effective date of this act" with specific dates (March 3, 2010 and June 1, 2009) throughout the statute for clarity on existing payroll waiver provisions

Effective date: January 1, 2012