OK SJR26

Proposes a constitutional amendment adding Section 44 to Article X, establishing a "Taxpayer's Bill of Rights" effective January 1, 2028, requiring voter approval for any new tax, tax rate increase, mill levy increase, or extension of expiring taxes by local governments

Limits annual spending growth for state government to inflation plus population change, and for local districts to inflation plus local population growth, with excess revenue required to be refunded to taxpayers

Requires districts to mail ballot notices to registered voters at least 30 days before elections on tax or debt increases, including detailed fiscal information and 500-word summaries for and against proposals

Prohibits local income taxes and new or increased transfer taxes on real property, while allowing local governments to enact exemptions or credits to reduce ad valorem taxes on commercial personal property

Mandates emergency reserve funds for political subdivisions (phased in at 1% for FY2029, 2% for FY2030, and 3% thereafter) and authorizes citizens to file enforcement lawsuits with attorney fees awarded to successful plaintiffs