Oklahoma SB1121 creates a committee to study and recommend alternative taxes to replace local revenue lost from eliminating ad valorem taxes.
Oklahoma SB1121 establishes the Joint Interim Committee on the Elimination of Ad Valorem Taxes. The committee will explore alternative tax methods to replace local revenue lost from the elimination of ad valorem taxes. It will consider the authority of political subdivisions to impose these taxes, determine necessary tax rates, and assess the impact of broadening these taxes locally. The committee must submit a report by July 1, 2028, and will be abolished January 1, 2030. The act becomes effective November 1, 2025, contingent on the passage of Enrolled Senate Joint Resolution No. 12.
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