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 introduces new definitions 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 also specifies that sales of items at race meetings are not exempt from sales tax under this section. The changes aim to provide clarity and broaden the scope of agricultural products eligible for tax exemptions, thereby supporting the agricultural and forestry sectors in Oklahoma. The act is set to take effect on November 1, 2025.