SENATE FLOOR VERSION - HB2805 SFLR Page 1
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SENATE FLOOR VERSION
April 6, 2021
AS AMENDED
ENGROSSED HOUSE
BILL NO. 2805 By: Pfeiffer of the House
and
Paxton of the Senate
An Act relating to revenue and taxation; amending 68
O.S. 2011, Section 2807.1, as amended by Section 1,
Chapter 193, O.S.L. 2012 (68 O.S. Supp. 2020, Section
2807.1), which relates to ad valorem tax exemption
for livestock employed in support of the famil y;
deleting primary purpose language; deleting purpose
for exempt treatment; and providing an effective
date.
BE IT ENACTED BY THE PEOPLE OF THE ST ATE OF OKLAHOMA:
SECTION 1. AMENDATORY 68 O.S. 2011, Section 2807.1, as
amended by Section 1, Chapter 193, O.S.L. 2012 (68 O.S. Supp. 2020,
Section 2807.1), is amended to read as follows:
Section 2807.1. A. For purposes of the ex emption authorized
pursuant to subsection (b) B of Section 6 of Article X of the
Oklahoma Constitution, "livestock employed in support of the family"
means all horses, cattle, mules, asses, sheep, swine, goats, poultry
and any other livestock.
B. For purposes of the exemption authorized pursuant to
subsection (b) B of Section 6 of Article X of the Oklahoma
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Constitution, and for purposes of this section, livestock owned by a
general partnership, limited p artnership, corporation, limited
liability company, e state, trust or other lawfully recognized entity
the primary purpose of which is to confer the economic benefits
derived from the ownership of the livestock on two or more members
of the same family and not any persons who are not members of the
same family, whether such members are related by consanguinity or
affinity, shall be deemed to be livestock employed in support of the
family. For purposes of this subsection, an adopted child shall be
treated as being related by consanguinity to the person or pers ons
who become the adoptive parent or parents of such child.
C. For purposes of the exempt treatment provided by subsection
B of this section, a surviving spouse having no other family members
by consanguinity or affinity after the death of his or her spo use
shall continue to be eligible for the exempt treatment of livestock
used for his or her support according to the requirements of
subsection B of this section.
SECTION 2. This act shall become effective November 1, 2021.
COMMITTEE REPORT BY: COMMITTEE ON FINANCE
April 6, 2021 - DO PASS AS AMENDED