Ad valorem tax; providing exception to certain payroll requirements for manufacturing exemption. Emergency.

The entire bill text was replaced with a floor version, updating page numbers, section headers, and formatting while maintaining the same substantive policy language regarding manufacturing tax exemptions.

The entire bill text was replaced with a committee substitute version that maintains the same legislative intent but with updated formatting and page numbering.

Added committee amendment headers and formatting elements typical of legislative markup, including committee substitute designation and reading clerk information.

Removed original enrolled bill formatting and replaced with proposed committee substitute formatting, though the underlying statutory language remains substantially the same.

Minimum investment threshold reduced from $5,000,000 to $500,000, allowing smaller manufacturing facilities to qualify for tax exemptions

Eliminated the requirement of employing at least 100 full-time equivalent employees

Removed the requirement that construction must commence after November 1, 2007 and be completed within three years

Added new definition for custom order manufacturing facilities in NAICS Sectors 32 and 33

Added new definition for facilities primarily engaged in distribution under specific NAICS codes

Added new definition for facilities engaged in aircraft repair, building and rebuilding

Added new definition for facilities primarily engaged in computer services and data processing with specific revenue thresholds

Added provision for annual adjustment of investment thresholds based on Consumer Price Index increases

Added distribution establishments (Industry Numbers 49311, 49312, 49313, 49319, and Sector 42) to the list of qualifying manufacturing facilities, subject to specific construction and employment requirements.

Modified the definition of 'investment cost' to now include capital expenditures for direct replacement, refurbishment, repair, or maintenance of existing machinery or equipment that qualifies for depreciation or amortization under federal tax law.

Clarified that the requirement for an existing facility to be unoccupied for 12 months before acquisition does not disqualify a facility from initially receiving or continuing to receive the tax exemption.

Updated the investment cost threshold for facilities placed into service after 2022 to increase annually based on the Consumer Price Index-All Urban Consumers (CPI-U), with the Oklahoma Department of Commerce responsible for calculating and publishing the adjusted amounts.

Reorganized the bill's formatting and numbering structure, moving from a House amendment format to a Senate bill format, and corrected line numbering and spacing throughout the document.

Added a new paragraph (e) establishing eligibility for distribution establishments with at least $5 million initial capital investment and 100 full-time employees

Clarified that sales to the federal government count as out-of-state sales for revenue testing purposes

Reorganized bill structure with new amendment header and updated enacting clause format