Oklahoma Lawmaker Pushes For Tax Credit Moratorium

Wednesday, December 21st 2011, 12:50 pm
By: News 9

The head of a panel examining numerous state tax breaks is suggesting a one-year moratorium on all tax credits while lawmakers consider the group's recommendations for greater transparency and stricter oversight.

Rep. David Dank said Wednesday he'll push for the moratorium while the Legislature considers recommendations from the Task Force on State Tax Credits and Economic Incentives. The panel met for its tenth and final meeting and voted to require more transparency of tax credits and who receives them, as well as mandatory pre-approval before a tax credit is offered.

The group previously endorsed eliminating the transferability of tax credits, imposing caps and expiration dates on the credits and more detailed auditing.

Dank says the one-year moratorium could generate as much as $100 million to $150 million for the state.