Taxation; directing State Board of Equalization to make certain certification; reduction of income tax rate upon certain certification. Emergency.

SB 1 requires Oklahoma's State Board of Equalization to certify five-year revenue averages for oil, natural gas, and corporate income taxes. If annual tax collections exceed these averages by $400 million or more, it automatically reduces individual and corporate income tax rates. This directly affects all Oklahoma taxpayers by linking potential tax cuts to specific revenue growth thresholds. The $400 million trigger adjusts for inflation every decade starting in 2035.