OK HB2439

Requires all existing business tax credits in effect as of July 1, 2016 to be submitted to voters at the November 2016 General Election and at each subsequent General Election for continued authorization

Tax credits that fail to receive majority voter approval will cease to have force of law, except for credits already earned that are in carryover periods

Any new tax credits proposed by the Legislature after July 1, 2016 must include a referendum clause and be submitted to voters at the next General Election for approval

Oklahoma Tax Commission and Oklahoma Insurance Department must provide lists of tax credits to the State Election Board, which will prepare separate ballot questions for each credit

Effective date of July 1, 2016, with emergency clause for immediate effect upon passage