Resolution 48 proposes an amendment to Section 6B of Article X of the Oklahoma Constitution, which concerns property tax exemptions for manufacturing facilities. The amendment aims to limit the reimbursement that counties and other taxing jurisdictions receive for lost revenue due to these exemptions. Specifically, it stipulates that the reimbursement will only cover the amount necessary to equal the property tax revenue that these jurisdictions received prior to the establishment of the new or expanded manufacturing facilities. The resolution also mandates that the Legislature define what constitutes a manufacturing facility and enact laws to implement these provisions.

A special election is scheduled for August 25, 2026, during which Oklahoma voters will have the opportunity to approve or reject this proposed amendment. The ballot will include a title summarizing the measure, which emphasizes the five-year property tax exemption for qualifying manufacturing concerns and the limitations on state reimbursement for lost revenue. If passed, this amendment could impact local funding for schools, emergency services, and other public entities reliant on property tax revenue.