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UPDATE: State Rep. Aims to Eliminate Tax Credits (Sep 13, 2012)

OKLAHOMA CITY (eCapitol) - A State House oversight committee that attempted earlier this year to eliminate dozens of state tax breaks for various industries resumed its efforts Wednesday.

eCapitol reports outgoing House Speaker Kris Steele (R-Shawnee) told committee members the main charge of state lawmakers is to responsibly manage tax dollars entrusted to their responsibility.

He said with regard to corporate tax credits, legislators often come up short, and thus short-changing the entire state. The committee is scheduled to meet again Sept. 26.

At that meeting, members will hear from the Oklahoma Insurance Department, which collects the insurance premium tax and oversees the use of certain tax credits against that tax, and the attorney general's office, whose 2010 opinion said a number of tax credits were unconstitutional.


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