This bill establishes new requirements for ballot measures related to the issuance of debt and ad valorem taxes in Oklahoma. Specifically, it mandates that any ballot measure authorizing debt to be repaid through an ad valorem tax must be voted on during a General Election. Additionally, any measure that proposes to levy or increase an ad valorem tax must include a clear warning on the ballot stating, "THIS IS A TAX INCREASE," along with essential information such as current and proposed millage rates, the estimated tax increase for the average household, and the intended use of the proposed revenues.

The bill aims to enhance transparency and inform voters about the financial implications of tax-related measures. It will be codified as Section 6-113.2 of Title 26 in the Oklahoma Statutes and is set to take effect on November 1, 2026.