Despite a late-night reconsideration and passing by the House Thursday, HJR 1092 was defeated in the Senate today 16-25. Oklahoma Farm Bureau thanks those senators who voted to turn down the measure that would have increased Oklahoma ad valorem taxes to build storm shelters in schools. The House originally defeated HJR 1092 by a substantial 34-61 vote Thursday afternoon, but it then passed with 51 votes Thursday night. “This was an unfortunate case of political power undermining what’s best for Oklahoma communities, but we are glad to see that at the end of the day, our legislators understand the negative […]

Oklahoma Farm Bureau applauds the Oklahoma legislature for passing HB 2562 Thursday, which reduces an approaching gross production tax rate increase on horizontal wells and also applies an equal rate to traditional vertical wells. Under the new law, horizontal wells will be subject to a tax incentive program to reduce the effective gross production rate to 2 percent for the first 36 months of production and then increase to 7 percent. The same law will be applied to vertical wells, which are currently taxed at 7 percent. The bill replaces an expiring incentive program and prevents the gross production tax […]

As more than $15 million in May 2013 tornado relief funds sit idle, Oklahoma Farm Bureau strongly encourages legislative members to defeat HJR 1092, a measure that would increase Oklahoma ad valorem taxes to build storm shelters in schools. “Our members live and work in many of the communities too often affected by tornadoes and violent weather, so we are certainly not overlooking the need for storm shelters in our schools,” said John Collison, OKFB vice president of public policy and media relations. “We are just asking the legislature to consider the millions of donated dollars still available before looking […]