OK SB590

Requires the Oklahoma Tax Commission's Ad Valorem Division to notify wind power generation facilities that have received ad valorem exemptions of their final assessed valuation each year, with notice mailed within one working day of preparation.

Allows exempt wind power generation entities to protest valuations under existing Oklahoma Tax Code procedures (Sections 2902 and 2902.1 of Title 68).

Failure to receive the annual notice does not constitute grounds for protest.

Entities that fail to file a good faith protest during their exemption period may only protest the year following exemption expiration if the protest is limited to the difference between the highest valuation during the exempt period and the first year's post-exemption valuation.

Becomes effective January 1, 2016.