Resolution 1046, introduced by Smith, proposes an amendment to Section 6 of Article X of the Oklahoma Constitution, which would allow for the exemption of ad valorem taxation on real property that has been damaged or destroyed by severe weather events, such as high winds, hail, or tornadoes. The resolution directs the Secretary of State to present this amendment to the public for approval or rejection. Under the proposed amendment, if a primary residence is deemed uninhabitable due to such damage, it would be exempt from taxation for the year in which the damage occurs. If the damage happens after June, the exemption would apply to the following tax year.

Additionally, the resolution outlines the definition of "damaged or destroyed" as making the dwelling unsafe or unreasonably occupiable. It also includes provisions for county commissioners to call special elections regarding the exemption of household goods and livestock from ad valorem taxation, contingent upon public petition. The ballot title for this proposed amendment will be prepared and filed with the Secretary of State and the Attorney General, allowing voters to decide on the measure.