Oklahoma § 68-2851.2 - Task Force on Valuation of Gas Gathering System Assets

§ 68-2851.2. Task Force on Valuation of Gas Gathering System Assets

A. There is hereby created the “Task Force on Valuation of Gas

Gathering System Assets”.

B. The Task Force shall consist of six (6) members to be

appointed as follows:

1. Three members shall be appointed by the Speaker of the

Oklahoma House of Representatives from the membership of the House;

and

2. Three members shall be appointed by the President Pro

Tempore of the Oklahoma State Senate from the membership of the

Senate.

C. The Speaker of the Oklahoma House of Representatives shall

designate one of the Speaker's appointees as a cochair. The

President Pro Tempore of the Oklahoma State Senate shall designate

one of the Pro Tempore's appointees as a cochair. The Task Force

shall conduct an organizational meeting not later than August 31,

2002.

D. The Task Force shall conduct a study of the valuation of gas

gathering system assets for purposes of ad valorem taxation. The

study shall include:

1. The valuation methods currently used for gas gathering

systems;

2. The methods used to determine whether gas gathering system

assets are subject to the jurisdiction of a county assessor or the

State Board of Equalization for purposes of valuation and

assessment;

3. Existing opinions of the courts of the State of Oklahoma

governing the valuation and assessment of gas gathering system

assets or such other materials, cases, opinions or determinations

that may be relevant to the study; and

4. Other matters as may be pertinent to the study and

recommendations of the Task Force as the Task Force deems relevant.

Oklahoma Statutes - Title 68. Revenue and Taxation

E. The Task Force shall not be subject to the Oklahoma Open

Meeting Act or to the Oklahoma Open Records Act.

F. The Task Force shall be authorized to meet at such times as

may be required in order to fulfill the duties imposed upon the Task

Force by law. Members of the Task Force shall be reimbursed for

their necessary travel expenses incurred in the performance of their

duties in accordance with Section 456 of Title 74 of the Oklahoma

Statutes.

G. Staff assistance for the Task Force shall be provided by the

Oklahoma House of Representatives and the Oklahoma State Senate.

H. The Task Force shall complete its study not later than

December 31, 2007.

Added by Laws 2002, c. 265, § 1, emerg. eff. May 17, 2002. Amended

by Laws 2003, c. 462, § 3, eff. July 1, 2003; Laws 2006, c. 272, §

20.