This bill amends Section 2866 of the Ad Valorem Tax Code in Oklahoma, focusing on the equalization ratio study conducted by the Oklahoma Tax Commission. The amendments include updates to the language regarding the methodology of the study, ensuring that the ratio of assessed value to fair cash value is expressed as a median and that sample data is relevant to the assessment date. Additionally, the bill specifies that counties must meet certain compliance requirements based on the median assessed ratios, with specific deviation ranges established for certification to the State Board of Equalization.

Key changes in the bill include the replacement of certain terms, such as changing "the" to "The" and "sample" to "Sample," which may reflect a shift in emphasis or clarity. The bill also introduces new provisions that require counties to be certified as compliant if their median assessed ratios fall within specified deviation ranges. Furthermore, it mandates the Oklahoma Tax Commission to develop a computer system for conducting the equalization ratio study and monitoring assessment performance, while clarifying that this system will not allow remote monitoring of county assessor computers. The act is set to take effect on November 1, 2026.