This bill amends 68 O.S. 2021, Section 1358, which pertains to sales tax exemptions for agricultural products in Oklahoma. The amendments expand the definition of "agricultural products" to include horses and timber, while also defining "farming" or "farm" to encompass the production of timber, seedling production, and forestry management. Additionally, the bill clarifies that "ranching" or "ranch" includes the business of raising horses. The bill specifies that sales of items at race meetings will not be exempt from sales tax under this section.

The effective date for these changes is set for November 1, 2025. The bill aims to provide clearer definitions and broaden the scope of agricultural sales tax exemptions, thereby supporting the agricultural and forestry sectors in Oklahoma.