Bill Text For SJR0007 - Introduced

 1|                          STATE OF OKLAHOMA                            |
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 2|             1st Session of the 57th Legislature (2019)                |
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 3|SENATE JOINT                                                           |
  |RESOLUTION 7                         By: Standridge                    |
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 6|                            AS INTRODUCED                              |
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 7|       A Joint Resolution directing the Secretary of State             |
  |       to refer to the people for their approval or                    |
 8|       rejection a proposed amendment to Section 26 of                 |
  |       Article X of the Oklahoma Constitution; modifying               |
 9|       basis for determining valuation of property for a               |
  |       school district for purposes of applying limit to               |
10|       total indebtedness; updating statutory language;                |
  |       deleting obsolete language; providing ballot title;             |
11|       and directing filing.                                           |
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14|BE IT RESOLVED BY THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE   |
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15|1ST SESSION OF THE 57TH OKLAHOMA LEGISLATURE:                          |
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16|    SECTION 1.  The Secretary of State shall refer to the people for   |
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17|their approval or rejection, as and in the manner provided by law,     |
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18|the following proposed amendment to Section 26 of Article X of the     |
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19|Oklahoma Constitution to read as follows:                              |
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20|    Section 26.  (a)  Except as herein otherwise provided, no          |
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21|county, city, town, township, school district, or other political      |
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22|corporation, or subdivision of the state, shall be allowed to become   |
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23|indebted, in any manner, or for any purpose, to an amount exceeding,   |
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24|in any year, the income and revenue provided for such year without     |
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   Req. No. 554                                                    Page 1
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 1|the assent of three-fifths of the voters thereof, voting at an         |
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 2|election, to be held for that purpose, nor, in cases requiring such    |
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 3|assent, shall any indebtedness be allowed to be incurred to an         |
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 4|amount, including existing indebtedness, in the aggregate exceeding    |
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 5|five percent (5%) of the valuation of the taxable property therein,    |
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 6|to be ascertained from the last assessment for state and county        |
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 7|purposes previous to the incurring of such indebtedness:  Provided,    |
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 8|that if a school district has an absolute need therefor, such          |
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 9|district may, with the assent of three-fifths of the voters thereof    |
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10|voting at an election to be held for that purpose, incur               |
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11|indebtedness to an amount, including existing indebtedness, in the     |
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12|aggregate exceeding five percent (5%) but not exceeding ten percent    |
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13|(10%) of the valuation of the taxable property and the valuation of    |
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14|any state property which is otherwise nontaxable therein, to be        |
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15|ascertained from the last assessment for state and county purposes     |
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16|previous to the incurring of such indebtedness if the assessment       |
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17|included the value of any state property which is otherwise            |
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18|nontaxable, for the purpose of acquiring or improving school sites,    |
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19|constructing, repairing, remodeling or equipping buildings, or         |
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20|acquiring school furniture, fixtures or equipment; and such assent     |
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21|to such indebtedness shall be deemed to be a sufficient showing of     |
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22|such absolute need, unless otherwise provided by law.  Provided        |
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23|further, that if a city or town has an absolute need therefor, such    |
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24|city or town may, with the assent of three-fifths of the voters        |
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   Req. No. 554                                                    Page 2
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 1|thereof voting at an election to be held for that purpose, incur       |
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 2|indebtedness to an amount, including existing indebtedness, in the     |
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 3|aggregate exceeding five percent (5%) but not exceeding ten percent    |
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 4|(10%) of the valuation of the taxable property therein, to be          |
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 5|ascertained from the last assessment for state and county purposes     |
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 6|previous to the incurring of such indebtedness, and such assent to     |
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 7|such indebtedness shall be deemed to be a sufficient showing of such   |
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 8|absolute need unless otherwise provided by law.  Provided, further,    |
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 9|that any county, city, town, school district, or other political       |
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10|corporation, or subdivision of the state, incurring any indebtedness   |
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11|requiring the assent of the voters as aforesaid, shall, before or at   |
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12|the time of doing so, provide for the collection of an annual tax      |
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13|sufficient to pay the interest on such indebtedness as it falls due,   |
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14|and also to constitute a sinking fund for the payment of the           |
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15|principal thereof within twenty-five (25) years from the time of       |
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16|contracting the same, and provided further that nothing in this        |
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17|section shall prevent, under such conditions and limitations as        |
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18|shall be prescribed by law, any school district from contracting       |
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19|with:                                                                  |
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20|    (1)  certificated personnel for periods extending one (1) year     |
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21|beyond the current fiscal year; or                                     |
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22|    (2)  a school superintendent for periods extending more than one   |
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23|(1) year, but not to exceed three (3) years beyond the current         |
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24|fiscal year.                                                           |
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   Req. No. 554                                                    Page 3
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 1|    (b)  If a county approves an exemption of household goods of the   |
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 2|heads of families and livestock employed in support of the family      |
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 3|from ad valorem taxation pursuant to the provisions of subsection      |
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 4|(b) B of Section 6 of this article, the percentage limitations on      |
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 5|indebtedness as specified in subsection (a) of this section for        |
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 6|political subdivisions or political corporations located in any such   |
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 7|county shall be adjusted by multiplying the percentage levels          |
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 8|specified in subsection (a) of this section by the millage             |
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 9|adjustment factor as specified in subsection (b) of Section 8A of      |
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10|this article.                                                          |
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11|    (c)  If approved by the people, the amendment to this section      |
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12|shall become effective January 1, 1993.                                |
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13|    SECTION 2.  The Ballot Title for the proposed Constitutional       |
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14|amendment as set forth in SECTION 1 of this resolution shall be in     |
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15|the following form:                                                    |
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16|                            BALLOT TITLE                               |
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17|Legislative Referendum No. ____           State Question No. ____      |
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18|THE GIST OF THE PROPOSITION IS AS FOLLOWS:                             |
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19|    This measure amends Section 26 of Article 10 of the Oklahoma       |
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20|    Constitution.  That section dictates a limit on the amount of      |
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21|    bonds which can be issued by various public entities.  The limit   |
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22|    is based on a percentage of the value of all taxable property.     |
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23|    This would change the way the value is determined for a school     |
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24|    district.  The value would include state property that is not      |
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   Req. No. 554                                                    Page 4
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 1|    taxable.  The property would not be taxed but its value would be   |
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 2|    included in the total value of a district for purposes of          |
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 3|    issuing bonds.  Some obsolete language is also removed.            |
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 4|    SHALL THE PROPOSAL BE APPROVED?                                    |
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 5|    FOR THE PROPOSAL  YES          _____________                       |
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 6|    AGAINST THE PROPOSAL  NO       _____________                       |
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 7|    SECTION 3.  The President Pro Tempore of the Senate shall,         |
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 8|immediately after the passage of this resolution, prepare and file     |
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 9|one copy thereof, including the Ballot Title set forth in SECTION 2    |
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10|hereof, with the Secretary of State and one copy with the Attorney     |
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11|General.                                                               |
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13|    57-1-554       JCR       1/16/2019 12:24:01 PM                     |
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   Req. No. 554                                                    Page 5
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