OK HB1962

Amends 68 O.S. 2011, Section 2807 to revise the definition of personal property subject to ad valorem taxation in Oklahoma.

Modifies the definition of merchandise in Section 9 to clarify that "goods and capital employed in merchandising" includes oil, gas, and petroleum products severed from the realty.

Maintains existing definitions of taxable personal property including livestock, machinery, manufacturing equipment, agricultural implements, household goods, and various commercial property.

Includes specific categories such as tanks and containers for storing crude oil and petroleum products, pipelines, telegraph and telephone lines, and railroad tracks as taxable personal property.

Declares an emergency provision requiring the act to take effect immediately upon passage and approval.