Budget-balancing Legislation Passed

Thursday, May 5th 2016, 2:22 pm
By: News 9

Three weeks before they must adjourn, Oklahoma lawmakers are adopting legislation to address a $1.3 billion hole in next year's state budget.

House and Senate Appropriations committees adopted a series of joint budget bills Thursday that increase revenue, including about $125 million from a cash-flow reserve fund. The measures also trim tax credits, including limiting a credit for clean-burning motor fuel equipment.

The measures would raise a total of about $200 million in new revenue. They also include stepped-up enforcement of tax collections through auditing and technology services.

Republican Sen. Clark Jolley, chairman of the Senate Appropriations and Budget Committee, says the goal is to responsibly fund government and not rely on bonded indebtedness and one-time revenue sources to pay for public education, health care and public safety.