State House Panel to Continue Probe of Tax Breaks

Jul 26, 2012

OKLAHOMA CITY (AP) — Millions of dollars in tax credits and incentives handed out by the state each year to businesses and industries will once again by scrutinized by a special House committee.

House Speaker Kris Steele on Wednesday announced the formation of the bipartisan House Tax Credit and Economic Incentive Oversight Committee. The panel will conduct several hearings in the coming months to analyze some of the dozens of tax credit and incentive programs the state offers.

A similar committee that met last year recommended the elimination of dozens of tax credits, but bills to overhaul the programs were derailed after fierce resistance from lobbyists working for those that receive the credits.

Oklahoma City Republican Rep. David Dank will chair the 12-member panel.

Copyright 2012 The Associated Press.