Bill > HB4424

This bill amends existing Oklahoma law to modify the definition of "manufacturing facilities" that are eligible for a five-year exemption from ad valorem taxes, which are taxes levied on property. Specifically, it clarifies that establishments primarily engaged in computer services and data processing, as defined by certain industry codes within the North American Industry Classification System (NAICS), will only qualify for this tax exemption if they were already in operation before January 1, 2027. The bill further defines "in operation" for these data centers to mean they had installed operational equipment, were providing services to third-party customers, and had generated revenue before that date, excluding activities like construction or system testing. The bill also specifies an effective date of January 1, 2027, for these changes.

Budget and Finance

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb4424&Session=2600