OKLAHOMA CITY (AP) — Oklahoma policymakers are beginning a detailed look at some of the billions of dollars in state tax incentives handed out every year in the form of tax credits, exemptions and deductions.

The task force that includes lawmakers and other elected officials held its first meeting Friday and discussed a tax credit offered for the rehabilitation of historic buildings.

Chairman Rep. David Dank says that particular tax credit cost the state more than $25 million over a three-year period from 2007-2009. Dank questioned why the state is investing millions of dollars into the restoration of privately owned buildings that may compete against other companies that don't receive government subsidies.

But Oklahoma Historical Society Director Bob Blackburn says the tax incentive encourages private investment that wouldn't otherwise occur.