Ok. Const. art. I, § 48 — Article I / Section 48
OK Const., Article I, Section 48
Status: in_force

The Legislature shall provide such penalties and regulations as may be necessary for the proper enforcement of the provisions of this article. Article X - Revenue and Taxation [ edit ] Article X: REVENUE AND TAXATION REVENUE AND TAXATION Section X-1: Fiscal year. Section X-2: Tax to defray state expenses. Section X-3: Tax to pay deficiency. Section X-4: Levy to pay state debt. Section X-5: Surrender of power of taxation - Uniformity of taxes. Section X-6: Property exempt from taxation - Exemptions under territorial laws - Exemption of certain property for limited time. Section X-6A: See 10-6Av1 or 10-6Av2. Section X-6Av1: Tangible personal property moving through State - Situs. Section X-6Av2: Intangible personal property exempt from ad valorem or other tax. Section X-6B: Qualifying manufacturing concern - Ad valorem tax exemption. Section X-6C.: enterprise areas - Economic stagnation or decline - Use of local taxes and fees for public investments - Development or redevelopment of unproductive, etc. areas. Section X-7: Assessments for local improvements. Section X-8: Valuation of property for taxation - Limit on percentage of fair cash value - Approval by voters. Section X-8A: Approval of exemption of household goods of heads of families and livestock employed in support of family - Adjusted millage rate - Computation procedure - Maximum rate. Section X-8B: Limit on percentage of fair cash value of real property. Despite any provision to the contrary, the fair cash value of any parcel of locally assessed real property shall not increase by more than five percent (5%) in any taxable year. The provisions of this section shall not apply in any year when title to the property is transferred, changed, or conveyed to another person or when improvements have been made to the property. If title to the property is transferred, changed, or conveyed to another person, the property shall be assessed for that year based on the fair cash value as set forth in Section 8 of Article X of this Constitution. If any improvements are made to the property, the increased value to the property as a result of the improvement shall be assessed for that year based on the fair cash value as set forth in Section 8 of Article X of this Constitution. The provisions of this section shall be effective January 1, 1997, and thereafter for counties which are in compliance with the applicable law or administrative regulations governing valuation of locally assessed real property as of such date. For counties which are not in compliance with such law or regulations as of January 1, 1997, the provisions of this section shall be effective January 1 of the year following the date the county is deemed to be in compliance with such laws or regulations as provided by law. The provisions of this section shall not apply to any personal property which may be taxed ad valorem or any property which may be valued or assessed by the State Board of Equalization. The Legislature shall enact any laws necessary to implement the provisions of this section. Section X-8C: Limit on fair cash value on homestead. Despite any provision to the contrary, beginning January 1, 1997, 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 the preceding calendar year did not exceed Twenty-five Thousand Dollars ($25,000.00), and which individual head of household is sixty-five (65) years of age or older, shall 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 and had gross household income from all sources of Twenty-five Thousand Dollars ($25,000.00) or less. Subject to the limitations 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 Twenty-five Thousand Dollars ($25,000.00) in any calendar year. 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 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 Twenty-five Thousand Dollars ($25,000.00) in a calendar year. For any individual head of household who is sixty-five (65) years of age or older prior to January 1, 1997, and has 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 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 sources exceeds Twenty-five Thousand Dollars ($25,000.00) in a calendar year, 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 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 this section. Section X-9: Amount of ad valorem tax. Section X-9A: Additional county ad valorem tax levy for department of health. Section X-9B: Area school districts for vocational and technical schools - Tax levies. Section X-9C: Emergency Medical Service Districts Section X-9D: Solid waste management services. Section X-10: Increased rate for public buildings or for building fund for school distr icts. Section X-10A: Tax levy for cooperative county libraries and joint city-county libraries. Section X-10B: Municipal-owned hospitals - Operation and maintenance - Tax levy. Section X-11: Officer receiving interest, profit or perquisities. Section X-12: Special forms of taxation - Amounts - Reference to Federal taxation. Section X-12a: Common school taxes on property of public service corporations. Section X-13: Independence of state taxation. Section X-14: Levy and collection by general laws and for public purposes - Assumption of debts. Section X-15: Pledge or loan of credit - Donation - Exceptions. Section X-16: Borrowing money - Specification of purpose - Use. Section X-17: Aid to corporations, etc., by counties, cities, towns, etc. Section X-19: Specification of purpose of tax - Devotion to another purpose. Section X-20: Taxes for county, city, town or municipal purposes. Section X-21: State Board of Equalization. Section X-22: Classification of property. Section X-23: Balanced budget - Procedures. Section X-23a: Surplus accruing to General Revenue Fund - Payment of bonded indebtedness -Investments - Appropriation of surplus. Section X-24: Debts in case of invasion, insurrection, or war. Section X-25: Authorization of debt - Annual tax - Submission to voters - Final passage. Section X-26: Indebtedness of political subdivisions - Assent of voters - Limitation of amount - Annual tax. Section X-27: Indebtedness for purchase, construction or repair of public utilities. Section X-27A: Municipal water and water facilities - Financing. Section X-27B.: Indebtedness. Section X-28: Revenue for sinking fund - Uses to which applied. Section X-29: Bonds and evidence of indebtedness - Certificates as to compliance with law. Section X-30: System of accounting. Section X-31: Indebtedness for construction, equipment, etc., of state buildings - Use of part of cigarette tax for payment. Section X-32: State public common school building equalization fund. Section X-33: Indebtedness for construction of buildings and other capital improvements - Restrictions - Term - Sources of payment. Section X-33A: State Industrial Finance Authority. Section X-34: Indebtedness for capital improvements to institutions of higher education - School and hospital for mentally retarded. Section X-35: Municipal and county levy for securing and developing industry. Section X-36: Indebtedness for capital improvements - University Medical Center. Section X-37: Bond issue for capital improvements at state institutions. Section X-38: Indebtedness for capital improvements at state institutions. Section X-39: Water resources and sewage treatment programs - Funding - State financial assistance - State liability. Section X-42: Economic development credit enhancement reserve fund - General obligation bonds. Section X-43: State construction, remodeling or other capital improvements - Amount of indebtedness - Payment and discharge of debt - Issuance of bonds. Article XI - State and School Lands [ edit ] Article XII - Homestead and Exemptions [ edit ] Article XIIA - Homestead Exemptions from Taxation [ edit ] Article XIII - Education [ edit ] Article XIIIA - Oklahoma State System of High Education [ edit ] Article XIIIB - Board of Regents of Oklahoma Colleges [ edit ] Article XIV - Banks and Banking [ edit ] SECTION XIV-1 Banking department. General laws shall be enacted by the legislature providing for the creation of a Banking Department, to be under the control of a Bank Commissioner, who shall be appointed by the Governor for a term of four years, by and with the consent of the Senate, with sufficient power and authority to regulate and control all State Banks, Loan, Trust and Guaranty Companies, under laws which shall provide for the protection of depositors and individual stockholders. SECTION XIV-2 Classification of loans and lenders - Licenses - Maximum rates of interest. The Legislature shall have authority to classify loans and lenders, license and regulate lenders, define interest and fix maximum rates of interest; provided, however, in the absence of legislation fixing maximum rates of interest, all contracts for a greater rate of interest than ten percent(10%) per annum shall be deemed usurious; provided, further, that in contracts where no rate of interest is agreed upon, the rate shall not exceed six percent (6%) per annum. Amended by State Question No. 454, Legislative Referendum No. 167, adopted at election held Sept. 17, 1968. SECTION XIV-3 Excessive rate - Forfeiture of interest - Recovery of double interest. The taking, receiving, reserving, or charging a rate of interest greater than is allowed by the preceding section, when knowingly done, shall be deemed a forfeiture of the entire interest which the note, bill, or other evidence of debt carries with it, or which has been agreed to be paid thereon. In case a greater rate of interest has been paid, the person by whom it has been paid, or his legal representatives, may recover from the person, firm, or corporation taking or receiving the same, in an action in the nature of an action of debt, twice the amount of the interest so paid: Provided, such action shall be brought within two years after the maturity of such usurious contract: Provided, However, That this section may be subject to such changes as the Legislature may prescribe. Article XV - Oath of Office [ edit ] Article XVI - Public Roads [ edit ] Article XVII - Counties [ edit ] Article XVIII - Municipal Corporations [ edit ] Article XIX - Insurance [ edit ] Article XX - Manufacture and Commerce [ edit ] Article XXI - Public Institutions [ edit ] Article XXII - Alien and Corporate Ownership of Land [ edit ] Article XXIII - Miscellaneous [ edit ] Article XXIV - Constitutional Amendments [ edit ] Any amendment or amendments to this Constitution may be proposed in either branch of the Legislature, and if the same shall be agreed to by a majority of all the members elected to each of the two (2) houses, such proposed amendment or amendments shall, with the yeas and nays thereon, be entered in their journals and referred by the Secretary of State to the people for their approval or rejection, at the next regular general election, except when the Legislature, by a two-thirds (2/3) vote of each house, shall order a special election for that purpose. If a majority of all the electors voting on any proposed amendment at such election shall vote in favor thereof, it shall thereby become a part of this Constitution. No proposal for the amendment or alteration of this Constitution which is submitted to the voters shall embrace more than one general subject and the voters shall vote separately for or against each proposal submitted; provided, however, that in the submission of proposals for the amendment of this Constitution by articles, which embrace one general subject, each proposed article shall be deemed a single proposal or proposition. Article XXV - Social Security [ edit ] Article XXVI - Department of Wildlife Conservation [ edit ] Article XXVII - Oklahoma Alcoholic Beverage Control Board [ edit ] Sections 1 - 11 repealed by State Question No. 563 at election held September 18, 1984. Article XXVIII - Alcoholic Beverage Laws And Enforcement [ edit ] Article XXIX - Ethics Commission [ edit ] Schedule [ edit ] Sources [ edit ] Oklahoma Constitution on Oklahoma Supreme Court Network This work is in the public domain in the U.S. because it is an edict of a government , local or foreign. See § 313.6(C)(2) of the Compendium II: Copyright Office Practices . Such documents include "legislative enactments, judicial decisions, administrative rulings, public ordinances, or similar types of official legal materials" as well as "any translation prepared by a government employee acting within the course of his or her official duties." These do not include works of the Organization of American States, United Nations, or any of the UN specialized agencies. See Compendium III § 313.6(C)(2) and 17 U.S.C. 104(b)(5). 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