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ENGROSSED HOUSE
BILL NO. 2805 By: Pfeiffer of the House
and
Paxton of the Senate
[ revenue and taxation - ad valorem tax exemption for
livestock employed in support of the family -
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
Constitution, and for purposes of this section, livestock owned by a
general partnership, limited partnership, corporation, limited
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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.
Passed the House of Representatives the 9th day of March, 2021.
Presiding Officer of the House
of Representatives
Passed the Senate the ___ day of __________, 2021.
Presiding Officer of the Senate