Given the state’s budget problems, a lot of attention is being paid to Oklahoma’s various tax incentives, and lawmakers are considering a measure to restrict them.
House Bill 1187 would limit how long new incentives would be offered.
"The very thrust behind it is in the future, any tax incentive we have, we need to have a sunset date with it whenever that we put it in," said Sen. Roger Thompson.
A Senate finance committee amended the bill before passing it Tuesday to say any new incentive must sunset within four years of its effective date.
"Simply to make it so that the legislature can take a look at these incentives no more than four years out," said Sen. Micheal Bergstrom.
The legislature is also working on a measure to end Oklahoma’s wind energy tax credit in July.
A 2015 law requires an independent review of incentives every four years. This year, the commission handling that will evaluate $228 million worth of incentives, including the Quality Jobs program and some energy sector incentives.
