Oklahoma House, Senate adopt budget-balancing legislation
Ponca City Now - May 6, 2016 9:56 am
OKLAHOMA CITY (AP) – Three weeks before they must adjourn, Oklahoma lawmakers are adopting legislation to address a $1.3 billion hole in next year’s state budget.
Appropriations committees of the House and Senate adopted a series of joint budget bills Thursday that increase revenue, including capturing about $125 million from a cash-flow reserve fund, and trim tax credits, including limiting a credit for clean-burning motor fuel equipment.
The measures would raise a total of about $200 million in new revenue. They also include stepped-up enforcement of tax collections through auditing and technology services.
Republican Sen. Clark Jolley, chairman of the Senate Appropriations and Budget Committee, says the goal is to responsibly fund government and not rely on bonded indebtedness and one-time revenue sources to pay for public education, health care and public safety.