HJR 1024 Summary

• Directs the Secretary of State to refer a proposed amendment to Section 6B of Article X of the Oklahoma Constitution to voters for approval or rejection.

• Changes manufacturing facility tax exemptions for facilities first approved on or after January 1, 2017 to require simple majority vote of county commissioners (instead of unanimous disapproval) with authority to set duration of 1-5 years and exempt percentage up to 100% of facility value.

• Exemption period can vary year to year but not within a single assessment year, and same authority applies to expansions of existing facilities.

• Eliminates state reimbursement to local taxing jurisdictions (schools, counties, cities, libraries, etc.) for tax revenue lost due to manufacturing exemptions approved after January 1, 2017, while maintaining reimbursement for exemptions granted before that date.

• Provides ballot title describing changes to the exemption approval process and specifies that changes apply only to exemptions authorized for the first time on or after January 1, 2017.