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Bill Would Give Okla. Voters Say in Tax Credits (Feb 08, 2012)

OKLAHOMA CITY (AP) - Oklahoma voters will have their say about millions of dollars in tax credits handed out by the state under a measure that has cleared a House panel.

The House Rules Committee voted 11-1 on Wednesday for a bill by House Speaker Kris Steele that would ask voters to place specific criteria for tax credits into the state Constitution.

If approved, the measure would end the transferability of tax credits and require all tax credits to be pre-approved by the state and create or retain jobs. It would also require more transparency and audits of tax credits and a financial impact statement detailing how much they will cost.

The measure also would require all tax credits to be subject to caps and termination dates.

 



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