OK SB1484

Creates the Oklahoma Tax Code Reform Commission to conduct a comprehensive review and complete revision of the Oklahoma Tax Code, with a final report due by December 1, 2017.

Commission consists of 12 non-elected members appointed by the Governor (5 business representatives from each Congressional district), State Treasurer (3 financial/banking experts), Senate President Pro Tempore (2 taxpayer representatives from Oklahoma City and Tulsa areas), and House Speaker (2 rural taxpayer representatives).

Commission must achieve a two-thirds vote to approve recommendations with goals including increased business investment, tax receipt stability during economic downturns, and maintaining Oklahoma's overall tax burden in the bottom 20% nationally.

Organizational meeting required by September 30, 2016, with a chair and co-chair selected by members and a majority constituting a quorum for all actions.

Commission subject to Oklahoma Open Meeting Act and Open Records Act, with staff assistance provided by Oklahoma Tax Commission, State Legislature, and Office of Management and Enterprise Services; act becomes effective September 1, 2016.