House Bill No. 1378 amends Section 1358 of Title 68 of the Oklahoma Statutes, which pertains to sales tax exemptions for agricultural products. The bill expands the definition of "agricultural products" to include timber, and it introduces new definitions for terms related to farming and ranching, specifically stating that "farming" or "farm" encompasses the production of timber, seedling production, and forestry management. Additionally, it clarifies that "ranching" or "ranch" includes the business of raising horses.

The bill maintains existing exemptions for various agricultural sales while ensuring that sales of items at race meetings are not exempt from sales tax. The changes are set to take effect on November 1, 2025. This legislation aims to support the agricultural sector by broadening the scope of what is considered an agricultural product, thereby potentially benefiting timber producers alongside traditional agricultural businesses.