{"id":2447,"date":"2011-12-01T13:13:52","date_gmt":"2011-12-01T19:13:52","guid":{"rendered":"http:\/\/stateimpact.npr.org\/oklahoma\/?p=2447"},"modified":"2012-12-20T10:13:26","modified_gmt":"2012-12-20T16:13:26","slug":"task-force-recommends-reigning-in-tax-credits-and-incentives","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/oklahoma\/2011\/12\/01\/task-force-recommends-reigning-in-tax-credits-and-incentives\/","title":{"rendered":"Task Force Recommends Reigning-In Tax Credits and Incentives"},"content":{"rendered":"<div id=\"attachment_2487\"  class=\"wp-caption module image center\" style=\"max-width: 600px;\"><a class=\"fancybox\" title=\"Caption\" href=\"http:\/\/stateimpact.npr.org\/oklahoma\/files\/2011\/12\/doerflinger.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-full wp-image-2487\" title=\"Preston Doerflinger\" src=\"http:\/\/stateimpact.npr.org\/oklahoma\/files\/2011\/12\/doerflinger.jpg\" alt=\"\" width=\"600\" height=\"216\" srcset=\"https:\/\/stateimpact.npr.org\/oklahoma\/files\/2011\/12\/doerflinger.jpg 600w, https:\/\/stateimpact.npr.org\/oklahoma\/files\/2011\/12\/doerflinger-500x180.jpg 500w, https:\/\/stateimpact.npr.org\/oklahoma\/files\/2011\/12\/doerflinger-150x54.jpg 150w, https:\/\/stateimpact.npr.org\/oklahoma\/files\/2011\/12\/doerflinger-300x108.jpg 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p class=\"wp-media-credit\">Joe Wertz \/ NPR StateImpact<\/p>\n<p class=\"wp-caption-text\">Task force member Preston Doerflinger, who serves as both Secretary of Finance and Revenue and the director of the Office of State Finance, questioned a proposal to create a tax credit oversight board.<\/p>\n<\/div><p>The tax credit task force on Wednesday approved a list of strict controls on economic incentives.<\/p><p>The 10-member panel is still hashing out the specific wording of a final report due later this month, but the members present at the meeting voted unanimously to approve several specific recommendations.<\/p><p>The <a href=\"http:\/\/www.tulsaworld.com\/news\/article.aspx?subjectid=336&articleid=20111201_16_A1_CUTLIN937010&rss_lnk=16\">approved recommendations<\/a> stem from state Rep. David Dank\u2019s <a href=\"http:\/\/stateimpact.npr.org\/oklahoma\/2011\/11\/10\/the-tax-credit-task-force%E2%80%99s-nine-part-plan\/\">nine-part plan<\/a>, which the Republican task force co-chair laid out on Nov. 9. The recommendations will affect how credits and incentives are issued and monitored, and which credits might ultimately be eliminated.<\/p><p><!--more-->Task force members Rep. Scott Inman, D-Del City, and State Treasurer Ken Miller didn\u2019t attend Wednesday\u2019s meeting, representatives for both men confirmed.<\/p>\n<h3>Approved Recommendations<\/h3>\n<ul>\n<li><strong>Transferability<\/strong><br \/>\nEnd it. If this is the only thing the task force accomplishes, \u201cthis whole effort will be worth it,\u201d Dank said in his opening statement.<\/li>\n<\/ul>\n<ul>\n<li><strong>Auditing<\/strong><br \/>\nRequire an annual audit by the State Auditor & Inspector\u2019s Office.<\/li>\n<\/ul>\n<ul>\n<li><strong>Fiscal Impact<\/strong><br \/>\nFuture credits and incentives must include a fiscal-impact study.<\/li>\n<\/ul>\n<ul>\n<ul>\n<li><strong>Jobs, Jobs, Jobs<\/strong><br \/>\nThe focus of future credits and incentives must be creating or retaining jobs.<\/li>\n<\/ul>\n<\/ul>\n<ul>\n<li><strong>Caps, Limit<\/strong>s<br \/>\nNo more open-ended credits and incentives. Future credits and incentives should have caps and expiration dates.<\/li>\n<\/ul>\n<ul>\n<ul>\n<ul>\n<li><strong>Double-dipping<\/strong><br \/>\nApplicants must disclose if they\u2019re using other credits and incentives.<\/li>\n<\/ul>\n<ul>\n<li><strong>Sneak-ins<\/strong><br \/>\nA ban on creating tax credits in the waning days of the legislative session.<\/li>\n<\/ul>\n<\/ul>\n<\/ul>\n<h3>Debate on Details Continues<\/h3><p>While most of the broad concepts were approved at Wednesday\u2019s meeting, the Task Force for the Study of State Tax Credits and Economic Incentives is still working out a few key details.<\/p><p>The panel took no action on Dank\u2019s proposal to form a Board of Equalization-styled panel of state officials and elected lawmakers that would review credits and incentives before they\u2019re issued.<\/p><p><em>The Oklahoman<\/em>\u2019s Michael McNutt on the \u201cquibbling\u201d that <a href=\"http:\/\/newsok.com\/oklahoma-legislative-panel-calls-for-end-of-transferable-tax-credits\/article\/3628015?custom_click=rss&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Newsok%2FNews%2FPolitics+%28NewsOK.com+RSS+-+news+%3E%3E+politics%29&utm_content=Google+Reader\">ensued<\/a>:<\/p>\n<blockquote><p>It seemed some Republicans on the panel, who have talked about the need to downsize state government and to reduce the number of existing boards and commissioners, were hesitant about forming a new board<\/p><\/blockquote><p>The task force\u2019s final report will be given to the state Legislature for consideration in bill-making. House Speaker Kris Steele <a href=\"http:\/\/www.oklahomawatch.org\/story.php?sid=93\">told Oklahoma Watch<\/a> that the task force\u2019s recommendations will receive \u201cpriority consideration\u201d when the legislative session starts in February.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tax credit task force on Wednesday approved a list of strict controls on economic incentives.The 10-member panel is still hashing out the specific wording of a final report due later this month, but the members present at the meeting voted unanimously to approve several specific recommendations.The approved recommendations stem from state Rep. David Dank\u2019s [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":2487,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[492,16],"tags":[55,60],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/2447"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/comments?post=2447"}],"version-history":[{"count":1,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/2447\/revisions"}],"predecessor-version":[{"id":12146,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/posts\/2447\/revisions\/12146"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/media\/2487"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/media?parent=2447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/categories?post=2447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/oklahoma\/wp-json\/wp\/v2\/tags?post=2447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}