ENGR. H. J. R. NO. 1047 Page 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 ENGROSSED HOUSE JOINT RESOLUTION NO. 1047 By: Manger, Townley, Phillips, McDugle, Grego, Stark and Wolfley of the House and Pugh of the Senate [ amendment to Constitution of the State of Oklahoma - eliminating income threshold - ballot title – filing ] BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES AND T HE SENATE OF THE 2ND SESSION OF THE 58TH OKLAHOMA LEGISLATU RE: SECTION 1. The Secretary of State shall refer to the people for their approval or rejection, as and in the manner provided by law, the following proposed amendment to Section 8 C of Article X of the Constitution of the State of Oklahoma to read as follows: Section 8C. A. Despite any provision to the contrary, beginning January 1, 2005 2023, the fair cash value , as determined by law, on each homestead of an individual head of household whose gross household income from all sources for t he preceding calendar year did not exceed an amount as provided in subsection B of this ENGR. H. J. R. NO. 1047 Page 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 section, and which individual head of household who is sixty-five (65) years of age or older , shall not exceed the fair cash value placed upon the property during the f irst year in which the individual head of household was sixty -five (65) years of age or older and had gross household income fro m all sources which did not exceed an amount as provided in subsectio n B of this section. Subject to the limitations of this se ction, the fair cash value shall not exceed such amount as long as the individual head of household who is sixty -five (65) years of age or older owns and occupies the property and as long as the gr oss household income from all sources does not exceed an am ount as provided in subsection B of this section. If any improvements are made to the property, the fair cash value of the impr ovements shall be assessed in accordance with law by the county asses sor and added to the assessed value of the property. Once the fair cash value of the improvements has been added to the fair cash value of the property, the total fair cash value shall not exceed the revised valuation of the property so long as the individual head of household who is sixty-five (65) years of age or older owns and occupies the property and so long as the gross household income from all sources does not exceed an amount as provided in subsection B of this section . For any individual head of household who is sixty -five (65) years of age or older pri or to January 1, 1997, and has gross household income from all sources of Twenty-five Thousand Dollars ($25,000.00) or less in c alendar year ENGR. H. J. R. NO. 1047 Page 3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 1996, the fair cash value of the real property shall be the fair cash value placed upo n the property on January 1, 1997. If the individual head of household ceases to own and occupy the property or if the gross household income from all sourc es exceeds an amount as provided in subsection B of this section , the fair cash value of the property shall be determined as if the provisions of Section 8 of Article X of the Constitution of the State of Oklahoma or any other provisions relating to a limi tation on the fair cash value of locally assessed real property had b een in effect during the time the property was valued pursu ant to the provisions of this section. B. The income threshold for the gross household income from all sources for an individua l head of household under this section shall not exceed the amount de termined by the United States Department of Housing and Urban Development to be the estimated median income for the preceding year for the county or metropolitan statistical area which includes such county. The Oklahoma Tax Commission shall provide such information to each county asse ssor each year as soon as such information becomes available. SECTION 2. The Ballot Title for the proposed Constitutional amendment as set forth in SECTION 1 of this resolution shall be in the following form: BALLOT TITLE Legislative Referendum No. ____ State Question No. ____ THE GIST OF THE PROPOSITION IS AS FOLLOWS: ENGR. H. J. R. NO. 1047 Page 4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 This measure amends the Oklahoma Constitution. It amends Section 8C of Article 10. This section limits the fair cash value of a homestead for individual head of household s who are sixty-five (65) years of age or older to not exceed the fair cash value placed upon the property during the first year in which the individual head o f household was sixty -five (65) years of age or older. Currently, this section only applies if the individual head of household meets the age requirement and an income limit determined by the United States Department of Housing and Urban Development to be the estimated median income for the preceding year for the county or metropolitan statistical area which includes such county . This measure would eliminate the required income limit. If this measure passes, this section will apply if the individual head of household is sixty-five (65) years of age or older . SHALL THE PROPOSAL BE APPROVED? FOR THE PROPOSAL — YES _____________ AGAINST THE PROPOSAL — NO _____________ SECTION 3. The Chief Clerk of the House of Representatives, immediately after the passage of this resolution, shall prepare and file one copy thereof, including the Ballot Title set forth in SECTION 2 hereof, with the Secretary of State and one copy with the Attorney General. ENGR. H. J. R. NO. 1047 Page 5 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Passed the House of Representatives the 22nd day of March, 2022. Presiding Officer of the House of Representatives Passed the Senate the ___ day of __________, 2022. Presiding Officer of the Senate