OK SJR48

Amends Section 6B of Article X of the Oklahoma Constitution regarding the 5-year ad valorem tax exemption for new, expanded, or acquired manufacturing facilities

Limits state reimbursement to counties and taxing jurisdictions for lost revenue to only the amount equal to property tax revenues received before the facility qualified for the exemption

Expands the list of entities eligible for reimbursement to include "any other taxing jurisdiction" in addition to common schools, county governments, cities, towns, emergency medical services districts, vocational-technical schools, junior colleges, county health departments, and libraries

Orders a special election on August 25, 2026 to submit the proposed constitutional amendment to Oklahoma voters for approval or rejection

Updates outdated references in the constitution by replacing phrases like "the adoption of the amendment contained in this subsection" with the specific date of November 5, 2002