{"data":{"id":"us-ok/okla.-stat.-tit.-60-60-178.6","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 60, § 60-178.6","heading":"Public trusts - Exemption from provisions - Housing","body":"finance.\n\nThe provisions of Sections 652 and 653 of Title 62 of the\n\nOklahoma Statutes and Sections 178.4 and 178.5 of this title shall\n\nnot affect: public trusts operating, financing or refinancing\n\nfacilities for the aged or disabled persons by nonprofit, religious\n\nor benevolent organizations; public trusts operating, financing or\n\nrefinancing county, municipal or nonprofit hospitals; public trusts\n\noperating college or educational dormitories or student housing\n\nfacilities; trusts formed for the purpose of constructing buildings\n\nfor local units of the Department of Human Services under the\n\nprovisions of Section 189a of Title 56 of the Oklahoma Statutes;\n\npublic trusts carrying out redevelopment, rehabilitation and\n\nconservation activities in accordance with an approved urban renewal\n\nplan, provided property owned by said trust shall not be exempt from\n\nad valorem taxation for a period exceeding five (5) years; trusts\n\ncreated under the provisions of Sections 15-141 through 15-147 of\n\nTitle 2 of the Oklahoma Statutes or other trusts created for the\n\nsame purpose. Section 176 et seq. of this title shall not prevent\n\npublic trusts from administering or financing a housing program\n\npursuant to a contract with an agency of the United States\n\nGovernment or the State of Oklahoma, or prevent public trusts from\n\nfinancing or refinancing housing projects, provided said projects:\n\n1. Involve only property that is subject to ad valorem\n\ntaxation; or\n\n2. Involve financing or refinancing the construction,\n\nacquisition and/or improvement and rehabilitation of existing\n\nhousing projects not subject to ad valorem taxation immediately\n\nbefore any such financing or refinancing,\n\nand in either case are located within the geographic boundaries of\n\nthe beneficiary or beneficiaries of the public trust.\n\nNotwithstanding the provisions of subdivision (b) of division (2) of\n\nsubparagraph a of paragraph 8 of Section 2887 of Title 68 of the\n\nOklahoma Statutes, housing projects which were exempt from ad\n\nvalorem taxation immediately before such financing or refinancing\n\nshall not become subject to ad valorem taxation because they are\n\nfinanced or refinanced by a public trust under this provision.\n\nA public trust with a city or cities, a county or counties, or\n\nthe state as the beneficiary or beneficiaries thereof may issue its\n\nevidences of indebtedness for the purpose of financing housing\n\nprojects or housing programs within the geographic boundaries of its\n\nbeneficiary or beneficiaries as same represent an authorized and\n\nproper public function for public trusts.","path":["OK Code","Title 60"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os60.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"e84d2fa7b9c229e62280f3583135f4ae6cd9a485685761c0848b868a7515a593","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-60-60-178.5","next":"us-ok/okla.-stat.-tit.-60-60-178.7"},"notice":"GroundRules: Original legal text. Not legal advice."}