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Bill > SB2144
OK SB2144
OK SB2144Taxation; farm equipment; requiring certain entities to pay tax in lieu of ad valorem. Effective date.
summary
Introduced
02/02/2026
02/02/2026
In Committee
02/03/2026
02/03/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act relating to taxation; amending 68 O.S. 2021, Sections 5401, 5402, and 5403, as amended by Section 75, Chapter 171, O.S.L. 2025 (68 O.S. Supp. 2025, Section 5403), which relate to farm equipment tax; requiring certain entities to pay tax in lieu of ad valorem; modifying definition; defining term; prescribing date that tax is imposed for certain entities; requiring tax stamp to be based on fair cash value for certain entities; requiring stamps to be retained in log; updating statutory language; updating statutory reference; and providing an effective date.
AI Summary
This bill modifies existing laws regarding taxation on farm equipment, specifically by requiring certain entities and individuals that operate whole goods equipment, such as farms, ranches, or poultry operations, to pay a tax in lieu of the traditional ad valorem tax on their equipment. This new tax will be based on the fair cash value of the equipment and will be evidenced by a tax stamp, which must be retained in a log. The bill also expands the definition of "agricultural operation" and clarifies what constitutes "entities and individuals that operate whole goods equipment." The tax will be imposed on these entities and individuals on a specific date related to when they are required to pay other taxes, and the tax stamps will be purchased from the county treasurer. This legislation is set to become effective on January 1, 2027.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Coauthored by Senator Paxton (on 02/05/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.oklegislature.gov/BillInfo.aspx?Bill=sb2144&Session=2600 |
| Fiscal Note/Analysis - Senate: SB2144 INT FI | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/impact%20statements/fiscal/Senate/SB2144%20INT%20FI.PDF |
| Fiscal Note/Analysis - Senate: Introduced | https://www.oklegislature.gov/cf_pdf/2025-26%20SUPPORT%20DOCUMENTS/BILLSUM/Senate/SB2144%20INT%20BILLSUM.PDF |
| BillText | https://www.oklegislature.gov/cf_pdf/2025-26%20INT/SB/SB2144%20INT.PDF |
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