The Oklahoma legislature is still in its second extraordinary session, but that may be about to wrap up after the Senate passed Thursday what will likely be its final three bills.
House Bill 1022 is the measure committing the state to spend $32 million this year and $110 million next year to replace lost federal funding to the state’s medical schools.
Sen. Roger Thompson said another bill limits the income tax credit for utility companies buying coal mined in the state.
"We’re putting there a $5 million cap on it. Members, the most we’ve ever spent on that is $1.8 million," Thompson said.
A analysis of the bill finds it will have no fiscal impact if the credit is claimed at the same times and in the same amounts as it was for 2016.
House Bill 1036 puts a cap on tax credits for railroad reconstruction or replacement projects. Thompson said they’re leaving wiggle room.
"This is a $2 million cap for the railroad. The most that they have ever spent is about $447,000," Thompson said.
HB1036 is not projected to have a fiscal impact to the state, either.
