§ 884. Ad valorem tax exemption--Effect on school state aid
Oklahoma Statutes AnnotatedTitle 62. Public Finance
62 Okl.St.Ann. § 884
§ 884. Ad valorem tax exemption--Effect on school state aid
Pursuant to the provisions of Section 6C of Article X of the Oklahoma Constitution, a municipality or county may provide an exemption from ad valorem taxes in a housing reinvestment district pursuant to the provisions of this act. A school district or taxing entity other than a municipality or county may provide an exemption from ad valorem taxes in a housing reinvestment district pursuant to the provisions of this act through a contractual arrangement with the municipal or county governing body. The loss of revenue to a school district from any such exemption from ad valorem taxes shall be borne by the school district and such exempted revenue shall be treated as being received by the school district for purposes of computation of the school district's state aid pursuant to the provisions of Article 18 of Title 70 of the Oklahoma Statutes.1
Credits
Laws 2002, c. 344, § 4, eff. Jan. 1, 2003.
Footnotes
Title 70, § 18-101 et seq.
62 Okl. St. Ann. § 884, OK ST T. 62 § 884
Current with emergency effective legislation through Chapter 257 of the Second Regular Session of the 59th Legislature (2024). Some sections may be more current, see credits for details.
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