OK HJR1023

Directs the Secretary of State to refer a proposed constitutional amendment (Section 2A to Article X) to Oklahoma voters for approval or rejection.

Reduces individual income tax rates by one percentage point annually until the highest rate reaches 3%, effective January 1, 2017, with all lower tax rates reduced by 33 1/3% annually until reaching 0% by January 1, 2020.

Reduces corporate income tax rates to 5% effective January 1, 2017, 4% effective January 1, 2018, and 3% effective January 1, 2019, remaining at 3% thereafter.

Repeals all income tax exemptions, deductions, credits, and similar reduction methods for both individuals and corporations effective January 1, 2017.

Requires two-thirds majority approval in both the Oklahoma House of Representatives and State Senate for any future legislation enacting income tax exemptions, deductions, or credits.