Task Force for the Study of State Tax Credits and Economic Incentives

Background

Mark Anderson / Flickr

The Tax Credit Tax Force, officially titled the Task Force for the Study of State Tax Credits and Economic Incentives, was empowered through a bill signed in May 2011 by Gov. Mary Fallin.

From July 1, 2011 to Jan. 1, 2012, the 10-member task force has authority to study all state tax credits and any economic incentive that affect state or local tax liabilities.

Co-chairs:
State Rep. David Dank and state Sen. Mike Mazzei

Members:
Rep. Earl Sears (R-Bartlesville)
Rep. Scott Inman (D-Del City)
Sen. David Myers (R-Ponca City)
Sen. Andrew Rice (D-Oklahoma City)
Ken Miller, state treasurer
Gary Jones, state auditor and inspector
Glenn Coffee, secretary of state
Preston Doerflinger, director of the Office of State Finance

The task force’s charge is to assess the economic value of Oklahoma’s tax credits. Basically: Does the economic benefit outweigh the loss in tax revenue?

The task force first met on Aug. 10 to discuss existing tax credits for building energy efficient homes and a five-year ad valorem tax exemption for manufacturers. Dank said recent proposed tax credits included incentives for charging electric cars, storm shelters and low-income housing.

Latest News

Follow this topic

April 12, 2012

Study: Oklahoma ‘Trailing Behind’ on Tax Incentive Evaluation

Oklahoma trails other states in evaluating tax incentives for economic development, according to a new study. All Oklahoma’s neighboring states — except for Colorado — do a better job, according to a study by the Pew Center on the States. This news is unlikely to surprise the members of the tax credit task force, which, among […]

February 24, 2012

Strong Lobbying Kills One Tax Credit Measure

One measure to end transferable tax credits was rejected Thursday by a state House subcommittee, which might predict trouble for proponents of reducing Oklahoma’s income tax. Several bills filed to reduce the top income tax rate depend on eliminating most tax credits to offset the lost revenue. And the lobbyists were out in full-force.

February 9, 2012

The Economy-Minded Guide to Oklahoma’s 2012 Legislative Session

Joe Wertz / NPR StateImpact Oklahoma’s 53rd legislature reconvened Monday at the state Capitol. The regular session runs through May, and StateImpact Oklahoma will concentrate our reporting on legislation with a direct impact on the state’s economy and the workforce. We’ll attend key meetings and hearings in person, but our focus will be explaining the […]

February 1, 2012

AP: Curbing the Income Tax ‘A Fiscal Conservative’s Dream,’ Years in the Making

In case you missed it, the Associated Press has a great breakdown of income tax reduction and elimination efforts underway in Oklahoma and six other states. The idea has circulated among think-tanks and academics for years, the AP reports: But it’s moving quietly into mainstream political discourse, despite the fact that such sweeping changes would […]

January 31, 2012

Oklahoma Film Incentives: Too Small to Cut?

Jessica Alba, Casey Affleck and Kate Hudson at the after party for "The Killer Inside Me," which was filmed in Oklahoma and recieved state subsidies.

In states across the country, subsidies and tax credits for film projects are being left on the cutting room floor. Oklahoma’s $5 million incentive program — which was among those scrutinized by the tax credit task force — is at risk, and state filmmakers and supporters are fighting back, according to Oklahoma Watch, which reports […]

January 27, 2012

State Tax Credits Formally Taken to Task

Three formal proposals and a constitutional amendment to rein in tax credits and economic incentives were unveiled Thursday at the state Capitol. House Bill 2976, would extend by two years a current moratorium on about 30 tax credits, which would give legislators time to assess each tax credit individually, said state Rep. David Dank, co-chair […]

January 2, 2012

Nixing Popular Exemption is Just One of 47 Ways to Reduce OK Income Tax

A legislative task force is calling for cuts to Oklahoma’s top personal income tax level and the corporate income tax. Obviously, both measures would mean a loss of state tax revenue. To make up the difference, the Task Force on Comprehensive Tax Reform suggested eliminating dozens of tax credits and breaks, including the $1,000-per-person personal […]

December 27, 2011

The Definitive Tax Credit Task Force Archive

The tax credit task force has finished, and its final recommendations will soon be in the hands of Gov. Mary Fallin and the Legislature. StateImpact Oklahoma came online in time to report live from most of the 10 task force meetings, but we’ve detailed all the panel’s deliberations at length. On Thursday, state House staffers […]

December 23, 2011

The Three Biggest OK Chambers’ Letter of Task Force Opposition

The Task Force for the Study of Tax Credits and Economic Incentives approved its final report on Wednesday, but opposition has already started. As we reported yesterday, Oklahoma’s three biggest chambers of commerce recently sent a letter to the task force co-chair arguing against some several of the panel’s key recommendations. CapitolBeatOK’s Patrick B. McGuigan […]

December 22, 2011

The Task Force is Done, But the Tax Credit Battle Has Just Begun

The tax credit task force on Wednesday formally approved its final report and a list of recommendations to be considered by Gov. Mary Fallin and the Legislature. Over months of meetings, the task force heard from industry insiders, small and large business leaders and state officials, who defended specific credits and incentives. The testimony was […]

Meet the Tax Credit Task Force