Post by pavel on May 13, 2016 0:06:52 GMT -6
Oklahoma lawmakers advance revenue measures totaling $280 million
OKLAHOMA CITY — Oklahoma lawmakers advanced legislation Thursday that policymakers say would net $280 million in tax revenue for the budget year that begins July 1.
The measures would put a dent in the $1.3 billion general revenue decline projected for fiscal year 2017, but at a cost to just about every Oklahoman.
Among the proposals voted out of the House and Senate appropriations committees Thursday were elimination of the state personal income tax “double deduction” ($97.5 million) and the refundable portion of the state’s earned income tax credit ($28.9 million).
The committees also advanced a temporary $5 fee for car registrations in FY 2017 ($15.5 million) and shortened the period to apply for sales- and use-tax refunds from three years to two ($10.1 million).
Read more: www.tulsaworld.com/news/capitol_report/oklahoma-lawmakers-advance-revenue-measures-totaling-million/article_0f5089c7-4f29-5f90-a730-768c787e582f.html
OKLAHOMA CITY — Oklahoma lawmakers advanced legislation Thursday that policymakers say would net $280 million in tax revenue for the budget year that begins July 1.
The measures would put a dent in the $1.3 billion general revenue decline projected for fiscal year 2017, but at a cost to just about every Oklahoman.
Among the proposals voted out of the House and Senate appropriations committees Thursday were elimination of the state personal income tax “double deduction” ($97.5 million) and the refundable portion of the state’s earned income tax credit ($28.9 million).
The committees also advanced a temporary $5 fee for car registrations in FY 2017 ($15.5 million) and shortened the period to apply for sales- and use-tax refunds from three years to two ($10.1 million).
Read more: www.tulsaworld.com/news/capitol_report/oklahoma-lawmakers-advance-revenue-measures-totaling-million/article_0f5089c7-4f29-5f90-a730-768c787e582f.html