OK HJR1054

Proposes a constitutional amendment adding Section 6D to Article X, exempting business inventory from ad valorem (property) taxation effective January 1, 2027

Applies to personal property described as inventory in the books and records of any lawfully recognized for-profit business entity

Extends the exemption to inventory held by estates and trusts when similarly documented as inventory in their records

Directs the Secretary of State to refer the amendment to Oklahoma voters for approval or rejection as a legislative referendum

Committee on Rules reported "Do Pass, As Amended and Coauthored" on March 5, 2026