HB 1724 Summary

• Amends Oklahoma's manufacturing facility ad valorem tax exemption by creating a phased exemption schedule for wind power generation facilities constructed after January 1, 2018: 100% exempt year one, 90% exempt year two, 80% exempt year three, 70% exempt year four, and 60% exempt year five.

• Requires taxpayers to pay ad valorem taxes on the non-exempt portions of assessed value in years two through five (10%, 20%, 30%, and 40% respectively), overriding any local abatement agreements.

• Maintains existing exemption provisions for other qualifying manufacturing facilities including aircraft repair, computer services, distribution centers, and automotive final assembly operations.

• Preserves existing payroll and health benefits requirements for exemption eligibility, with specific thresholds based on county population and facility type.

• Effective date: November 1, 2015.