HJR 1032 Summary

• Proposes amendment to Section 6B, Article X of Oklahoma Constitution to modify property tax exemption for manufacturing facilities from mandatory to optional based on county board approval

• Requires simple majority vote of county commissioners to approve exemption for new or expanded manufacturing facilities, with exemption period limited to 1-5 years (previously unlimited)

• Allows county commissioners to set percentage of facility value exempt from tax up to 100%, with ability to vary percentage year-to-year

• Eliminates legislature's requirement to reimburse local taxing jurisdictions for lost tax revenues on new manufacturing exemptions approved after January 1, 2015, while maintaining reimbursement for exemptions approved before that date

• Directs Secretary of State to submit proposed constitutional amendment to voters with specified ballot title and language