Oklahoma § 62-193

§ 62-193.

funds.

Ad Valorem Reimbursement Fund - Claims - Distribution of

Oklahoma Statutes - Title 62. Public Finance

A. There is hereby created in the State Treasury a revolving

fund for the Oklahoma Tax Commission to be designated the "Ad

Valorem Reimbursement Fund". The fund shall be a continuing fund,

not subject to fiscal year limitations. Monies apportioned to this

fund shall be expended:

1. To reimburse counties of this state for loss of revenue due

to exemptions of ad valorem taxes for new or expanded manufacturing

or research and development facilities;

2. Beginning calendar year 2022 and all subsequent years, to

reimburse qualified counties of this state for loss of revenue due

to exemptions granted to veterans and their surviving spouses

pursuant to the provisions of Sections 8D, 8E and 8F of Article X of

the Oklahoma Constitution. A county is qualified for reimbursement

if the number of exemptions granted to veterans and surviving

spouses for the most recently concluded calendar year exceeds eighttenths of one percent (0.8%) of the total county population

according to the latest Federal Decennial Census or most recent

annual population estimate, whichever is most recent. The

reimbursement provided in this paragraph shall amount to twenty-five

percent (25%) of the loss of revenue claimed by the qualified

county;

3. To reimburse counties of this state for loss of revenue for

school district and county purposes due to exemptions granted

pursuant to the provisions of Section 2890 of Title 68 of the

Oklahoma Statutes; and

4. To reimburse counties of this state for loss of revenue due

to decreased valuation and assessment for buffer strips pursuant to

Section 2817.2 of Title 68 of the Oklahoma Statutes.

Provided that it shall be the duty of the Tax Commission to

assess the valuation of all property for new or expanded

manufacturing or research and development facilities which are

exempt from ad valorem taxes.

Monies apportioned to this fund also may be transferred to other

state funds or otherwise expended as directed by the Legislature by

law.

B. The county commissioners of each county seeking

reimbursement for lost revenue from the Ad Valorem Reimbursement

Fund shall make claims for reimbursement on forms prescribed by the

Tax Commission prior to April 30 of each year. Claims for

reimbursement for loss of revenue based upon the type of exemptions

authorized pursuant to subsection A of this section. Provided, the

assessed valuation of a school district as stated in the claim for

reimbursement shall be the same as reported to the State Department

of Education on the Estimate of Need and shall include the total

valuation of property exempt from taxation pursuant to Section 2902

of Title 68 of the Oklahoma Statutes. The claims shall be either

approved or disapproved in whole or in part by the Tax Commission by

Oklahoma Statutes - Title 62. Public Finance

June 15 of each year. A claim for reimbursement for loss of revenue

due to an exemption of ad valorem taxes for a new or expanded

manufacturing or research and development facility shall be

disapproved if a county or school district has received any payment

in lieu of ad valorem taxes from such facility, to the extent of the

amount of such reimbursement. If the Tax Commission determines that

an exemption has been erroneously or unlawfully granted, it shall

notify the appropriate county assessor who shall immediately value

and assess the property and place it on the rolls for ad valorem

taxation. Disbursements from the fund shall be made on warrants

issued by the State Treasurer against claims filed by the Tax

Commission with the Office of Management and Enterprise Services for

payment. Such disbursements shall be exempt from all agency

expenditure ceilings. The county treasurer shall apportion or

disburse such funds for expenditures in the same manner as other ad

valorem tax collections.

C. In the event monies apportioned to the Ad Valorem

Reimbursement Fund are insufficient to pay all claims for

reimbursement made pursuant to subsection B of this section, claims

for reimbursement for loss of revenue due to exemptions of ad

valorem taxes for new or expanded manufacturing or research and

development facilities shall be paid first, and any remaining funds

shall be distributed proportionally among the counties making claims

for reimbursement for loss of revenue for school district and county

purposes due to exemptions granted pursuant to the provisions of

Sections 8D, 8E and 8F of Article X of the Oklahoma Constitution, if

applicable, according to the amount of the claim made by each

county. If any funds remain after paying all claims for

reimbursement for loss of revenue due to exemptions of ad valorem

taxation for new or expanded manufacturing or research and

development facilities and for reimbursement for loss of revenue for

school district and county purposes due to exemptions granted

pursuant to the provisions of Sections 8D, 8E and 8F of Article X of

the Oklahoma Constitution, the remaining funds shall be distributed

proportionally among the counties making claims for reimbursement

for the exemptions granted pursuant to the provisions of Section

2890 of Title 68 of the Oklahoma Statutes and for the loss of

revenue for decreased valuation and assessment for buffer strips

pursuant to Section 2817.2 of Title 68 of the Oklahoma Statutes.

Added by Laws 1985, c. 15, § 4, emerg. eff. April 11, 1985. Amended

by Laws 1985, c. 341, § 2, emerg. eff. July 30, 1985; Laws 1986, c.

223, § 30, emerg. eff. June 9, 1986; Laws 1988, c. 281, § 11,

operative July 1, 1988; Laws 1992, c. 396, § 1, emerg. eff. June 11,

1992; Laws 1993, c. 273, § 1, emerg. eff. May 27, 1993; Laws 1998,

c. 405, § 1, eff. Sept. 1, 1998; Laws 1999, c. 390, § 3, emerg. eff.

June 8, 1999; Laws 2000, c. 255, § 3, eff. Jan. 1, 2001; Laws 2012,

c. 304, § 457; Laws 2021, c. 531, § 1, eff. Nov. 1, 2021.

Oklahoma Statutes - Title 62. Public Finance