Oklahoma Administrative Code
Title 710 - Oklahoma Tax Commission
Chapter 10 - AD Valorem
Subchapter 12 - Agricultural Land Conservation Adjustment
Section 710:10-12-20 - County claim for reimbursement; funding shortfall

(a) The tax on "Conservation Land Adjustment" properties allowed ad valorem adjustment will be included on a County Claim for Reimbursement Form OSF-3 which will be filed by the County Commissioners by April 30, in the following year for reimbursement in June, of that same year, as provided by the law. [See: 62 O.S. § 193 ] Manufacturers tax exemption reimbursements are to have first priority and additional homestead second priority before any other program utilizing the fund designated for the "Five-year Ad Valorem Tax Exemption for Oklahoma Manufacturers". In the event of a shortfall of State funding, county treasurers would receive less than a full payment. In that event, the Oklahoma Tax Commission shall advise the county treasurer of the proportion to be applied to each tax bill, and how to administer the shortfall.

(b) If the Ad Valorem Reimbursement Fund is insufficient to pay all claims, the claims will be paid proportionally from remaining funds. If no funds exist to pay any claims the claims are extinguished. (Ref: Ok AG Opinion 03-16).