Oklahoma 2025 Regular Session

Oklahoma Senate Bill SB237 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	ENGR. S. B. NO. 237 Page 1 1
	3	+	SENATE FLOOR VERSION - SB237 SFLR Page 1
	4	+	(Bold face denotes Committee Amendments) 1
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28		-	ENGROSSED SENATE
29		-	BILL NO. 237 By: Murdock of the Senate
	29	+	SENATE FLOOR VERSION
	30	+	February 20, 2025
	31	+
	32	+
	33	+	COMMITTEE SUBSTITUTE
	34	+	FOR
	35	+	SENATE BILL NO. 237 By: Murdock of the Senate
30	36
31	37		and
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33	39		Newton of the House
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38		-	An Act relating to the Commissioners of the Land
39		-	Office; amending 64 O.S. 2021, Section 1023, which
40		-	relates to properties owned by the Commissioners of
41		-	the Land Office; updating statutory reference;
42		-	requiring payment in lieu of ad valorem tax;
43		-	providing method for computation of payment;
44		-	requiring county assessor to provide information to
45		-	the Commissioners of the Land Office by specified
46		-	date; and providing an effecti ve date.
	44	+
	45	+	[ Commissioners of the Land Office - properties -
	46	+	payment - method for computation - information -
	47	+	effective date ]
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52	53		BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
53	54		SECTION 1. AMENDATORY 64 O.S. 2021, Section 1023, is
54	55		amended to read as follows:
55	56		Section 1023. A. The Commissioners of the Land Office are
56	57		authorized to grant co mmercial leases and agricultural leases in
57	58		trust property. subject to the following conditions:
58	59		1. Commercial leases shall not exceed fifty -five (55) years.
59	60		The granting of any commercial lease in excess of three (3) years
60	61		shall be by public bidding at n ot less than fair market value. All
61	62		commercial leases shall provide for fair market value throughout the
62	63		term of the lease.;
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64		-	ENGR. S. B. NO. 237 Page 2 1
	65	+	SENATE FLOOR VERSION - SB237 SFLR Page 2
	66	+	(Bold face denotes Committee Amendments) 1
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89	91		2. Agricultural leases of trust property shall be limited to a
90	92		maximum of five (5) years and shall be by public bidding at not le ss
91	93		than fair market value .;
92	94		3. The granting of any interest in trust property at less than
93	95		fair market value or not in compliance with this section is void .;
94	96		and
95	97		4. Any permanent improvement made on commercial trust property
96	98		from and on or after the passage of this act July 1, 1989, shall
97	99		revert to the trust at the end of the lease.
98	100		B. In connection with any commercial and agricultural leases,
99	101		the Commissioners of the Land Office shall, unless otherwise
100	102		exempted by the Oklahoma Constitution or laws of Ok lahoma:
101	103		1. Require payment of ad valorem property taxes on any
102	104		improvements and structures on state school land, which would
103	105		otherwise be subject to ad valorem property taxation if constructed
104	106		on privately owned land; and
105	107		2. Indemnify and hold harmless t he Commissioners of the Land
106	108		Office from any financial obligation related to land, financing or
107	109		operation.
108	110		C. Upon the effective date of this act, the Commissioners of
109	111		the Land Office shall be required to make a payment in lieu of ad
110	112		valorem taxes with re spect to real property located in any county of
111	113		this state if title to more than ten percent (10%) of all real
112	114		property in the county, as measured by acreage, is held by the
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114		-	ENGR. S. B. NO. 237 Page 3 1
	116	+	SENATE FLOOR VERSION - SB237 SFLR Page 3
	117	+	(Bold face denotes Committee Amendments) 1
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139	142		Commissioners of the Land Office. The county assessor of each
140	143		county to which payment is owed pursuant to the provisions of this
141	144		subsection shall make a determination of the average tax rate per
142	145		acre for agricultural land in the county for the preceding
143	146		assessment year and shall communicate that information to the
144	147		Commissioners of the Land Office not later than September 1 each
145	148		year. The Commissioners of the Land Office shall make the required
146	149		payment to the county treasurer of the county not later than
147	150		December 31 of each year.
148	151		D. The Commissioners of the Land Office may refuse to ac cept
149	152		any bid or lease on a commercial, agricultural or mineral lease
150	153		where the party is in default of any installment due or in violation
151	154		of any provisions contained in a prior or current lease contract.
152	155		D. E. The Commissioners of the Land Office may refu se to accept
153	156		any bid or lease contract where the interested party cannot show
154	157		adequate creditworthiness as determined by the Land Office.
155	158		SECTION 2. This act shall become effective January 1, 2026.
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182		-	Passed the Senate the 17th day of March, 2025.
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186		-	Presiding Officer of the Senate
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189		-	Passed the House of Representatives the ____ day of __________,
190		-	2025.
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194		-	Presiding Officer of the House
195		-	of Representatives
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	159	+	COMMITTEE REPORT BY: COMMITTEE ON APPROPR IATIONS
	160	+	February 20, 2025 - DO PASS AS AMENDED