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OK SB237
Bill
Status
3/18/2025
Primary Sponsor
Casey Murdock
Click for details
AI Summary
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Amends 64 O.S. 2021, Section 1023 regarding Commissioners of the Land Office authority to grant commercial and agricultural leases in trust property.
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Requires Commissioners of the Land Office to make annual payments in lieu of ad valorem taxes to counties where the Commissioners hold title to more than 10% of all real property by acreage.
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County assessors must calculate and communicate the average tax rate per acre for agricultural land to the Commissioners of the Land Office by September 1 each year, and the Commissioners must pay the county treasurer by December 31 of each year.
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Clarifies that lessees must pay ad valorem taxes on improvements and structures on state school land and indemnify the Commissioners of the Land Office from financial obligations related to land, financing, or operation.
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Becomes effective January 1, 2026.
Legislative Description
Commissioners of Land Office; requiring payment to certain counties in lieu of ad valorem tax. Effective date.
Last Action
Recommendation to the full committee; Do Pass Appropriations and Budget Education Subcommittee
4/8/2025