Req. No. 5155 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 STATE OF OKLAHOMA 1st Session of the 59th Legislature (2023 ) HOUSE JOINT RESOLUTION 1019 By: Manger AS INTRODUCED A Joint Resolution directing the Secretary of State to refer to the people for their approval or rejection a proposed amendmen t to Section 8C of Article X of the Constitution of the State of Oklahoma; eliminating income threshold ; providing ballot title; and directing filing. BE IT RESOLVED BY THE HOUSE OF REPRESENT ATIVES AND THE SENATE OF THE 1ST SESSION OF THE 59TH OKLAHOMA LEGISLATURE: 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 8C 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 2025, the fair cash value, as determined by law, on each homestead of an individual head of household whose gross household income from a ll sources for the preceding calendar year did not exceed an amount as provided in subsection B of this section, and which individual head of household who is sixty-five (65) years of age or older, shall not exceed the fair cash value Req. No. 5155 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 placed upon the prope rty during the first year in which the individual head of household was sixty -five (65) years of age or older and had gross household income from all sources which did not exceed an amount as provided in subsection B of this section . Subject to the limita tions of this section, 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 gross household income from all sources does not exceed an amount as provided in subsecti on B of this section. If any improvements are made to the property, the fair cash value of the improvements shall be assessed in accordance with law by the county assessor and added to the assessed value of the property. Once the fair cash value of the i mprovements 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 t he 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 prior to January 1, 1997, and h as gross household income from all sources of Twenty-five Thousand Dollars ($25,000.00) or less in calendar year 1996, the fair cash value of the real property shall be the fair cash value placed upon the propert y on January 1, 1997. If the Req. No. 5155 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 individual head of household ceases to own and occupy the property or if the gross household income from all sources exceeds an amount as provided in subsection B of this section , the fair cash value of the property shall be d etermined 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 limitation on the fair cash value of locally assessed real property had been in effect during the time the property was valued pursuant to the provisions of thi s section. B. The income threshold for the gross household income from all sources for an individual head of household under this section shall not exceed the amount determined by the United States Department of Housing and Urban Development to be the est imated 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 assessor each yea r as soon as such information becomes availa ble. 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: This measure amends the Oklahoma Constitution. It amends Section 8C of Article 10. This section limits the fair cash Req. No. 5155 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 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 of 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 income limit requirement. 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 Secretar y of State and one copy with the Attorney General. 59-1-5155 AQH 10/28/22