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CO - OP LIVI NG


ture to enact laws requiring the newly created department or departments to perform other duties.


SQ 766: This measure amends Section 6A of Article 10 of the Oklahoma Constitution. At present that sec- tion exempts some intangible personal property from ad valorem property taxation. This measure would exempt all intangible personal property from ad valorem property taxation. An ad valorem property tax is a tax imposed upon the value of property.


Intangible personal property is property whose value is not derived from its physical attributes, but rather from what it represents or evidences. Intangible personal property which is still currently taxed but would not be taxed if the measure is adopted includes items such as: ✓Patents, inventions, formulas, designs, and trade se-


crets; ✓Licenses, franchises, and contracts; ✓Land leases, mineral interests, and insurance policies; ✓Custom computer software; and ✓Trademarks, trade names and brand names. If adopted, the measure would apply to property taxa-


tion starting with the tax year that begins on January 1, 2013. OL


Help Goes Mobile


Central Rural Electric Cooperative provides face-to-face disaster relief assistance By Hayley Imel


ing this summer’s wildfi re outbreaks. As an example, Central Rural Electric Cooperative (CREC) in Stillwater, brought the main office to affected communities to assure their members that the co-op was aware of their hard- ships and ready to assist fi re victims. CREC established a mobile offi ce for one day in the hard-hit communities of Luther, Drumright and Glencoe. Ac- cording to Jeff Joiner, communications specialist, employees were on hand to talk to people about their accounts, to explain how to re-establish service and to offer energy-effi ciency informa-


M


any Oklahoma rural electric cooperatives made excellent efforts in affected areas dur-


tion to those planning to rebuild their homes.


In addition, the co-op used the face- to-face opportunity to distribute disas- ter grant applications from the CREC Foundation. To date, the foundation has distributed $22,000 to those who applied for disaster grants.


“As with every co-op that faced the


fi res, our line crews worked long hours, weekends—whatever it took to get power back on,” Joiner said. “For the employees involved and the folks who came to the mobile offi ce it was a posi- tive experience.”


To learn more about grants and other assistance available through the CREC Foundation, call 1-800-375-2884 or download information from www.crec. coop. OL


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OCTOBER 2012 7


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