OK HB3972

Amends the Ad Valorem Reimbursement Fund to add a new category allowing counties to be reimbursed for school district revenue losses when the state purchases property valued at more than $300,000,000

State property purchases must have occurred on or after January 1, 2025, and reimbursement is limited to the first two tax years following the purchase

Establishes priority for fund disbursements: claims for manufacturing/R&D facility exemptions and state property purchases are paid first, with remaining funds distributed proportionally among other qualifying claims

County commissioners must submit reimbursement claims to the Tax Commission by April 30 each year, with approval or disapproval determined by June 15

Declared an emergency measure, taking effect immediately upon passage and approval