Lawmakers to look at tax incentives
Ponca City Now - February 9, 2015 7:09 am
TULSA, Okla. (AP) – Facing a $300 million shortfall, Oklahoma’s elected leaders are vowing to re-examine the more than $1 billion in tax credits or incentives the state has had on its books for decades.
Senate President Pro Tem Brian Bingman of Sapulpa and House Speaker Jeffrey Hickman of Fairview have said that taking a closer examination of the incentives will be a priority this session.
The lawmakers want to analyze tax credits every four years to determine whether they are paying off.
Oklahoma Secretary of Finance and Revenue Preston Doerflinger said that while much of the legislation proposed each session is well-intentioned, the state has lacked an objective way to determine which ones are working the best for the state.
Doerflinger also is developing a tool that would re-examine the incentives regularly.