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Okla. Lawmakers Resume Study of State Tax Breaks (Oct 26, 2011)

OKLAHOMA CITY (AP) - Oklahoma lawmakers have resumed their examination of some of the hundreds of tax breaks and deductions the state hands out each year that are estimated to cost about $5 billion annually.

The Task Force on State Tax Credits and Economic Incentives met Wednesday for a daylong session in the House chamber.

The panel heard presentations from wind energy officials who touted the importance of two credits - one offered to producers of electric power at zero-emission facilities and a second for the manufacturing of small wind turbines.

Representatives of Oklahoma's coal industry also presented information on tax credits given that industry.

Lawmakers are studying the economic impact of incentives to determine if some can be eliminated to help support a state budget that has had revenue drop in recent years.

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