Local & Regional
Fri May 24, 2013
Oklahoma Legislature OKs Tax Breaks For Storm Victims
The Oklahoma Senate has approved a bill to provide various tax breaks to property and vehicle owners who suffered losses in Monday's tornado that tore through Moore and left 24 people dead.
The bill approved unanimously in the Senate on Friday also provides sales tax breaks for businesses that donate inventory to help storm victims and property tax credits for property that increases in value after it's rebuilt.
The bill applies to victims of tornados that occur in 2013 and for which a Presidential Major Disaster Declaration was issued. The measure still must be approved by the House before the Legislature adjourns.
The measure was sponsored by Moore Republican Sen. Anthony Sykes, who represents most of the communities hit hardest by Monday's storms.