This bill amends Section 1358 of Title 68 of the Oklahoma Statutes, which pertains to sales tax exemptions for agricultural products. The key change is the expansion of the definition of "agricultural products" to include timber, alongside existing categories such as livestock and dairy products. Additionally, the bill introduces new definitions, stating that "farming" or "farm" will encompass the production of timber, seedling production, and forestry management. The term "ranching" is also clarified to include 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, 2026. Overall, the bill aims to broaden the scope of agricultural sales tax exemptions to support the timber industry and related agricultural activities in Oklahoma.