Monday, December 3, 2012
EXPLAINER | Task Force for the Study of State Tax Credits and Economic Incentives
46 stories Task Force for the Study of State Tax Credits and Economic Incentives
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.
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