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Okla. Senate Panel Kills Bill to End Tax Exemption (Feb 07, 2012)

OKLAHOMA CITY (AP) - A bill to end Oklahoma's sales tax exemption for newspapers and magazines has been defeated in a Senate committee.

The Senate Finance Committee on Tuesday soundly rejected the proposal by Tahlequah Democrat Sen. Jim Wilson to end the exemption from the state's 4.5 percent sales tax for newspapers and magazines.

Citing figures from the Oklahoma Tax Commission, Wilson says the proposal would have freed up $17 million to use to fund bonuses for National Board Certified Teachers. The head of the Oklahoma Press Association opposed the bill and said he believes the $17 million estimate was inflated.

The State Board of Education last year voted not to fund the $5,000 bonuses during the current fiscal year.

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