Tax Credits Review

Tulsa, OK – Lawmakers scrutinize state tax credits

OKLAHOMA CITY (AP) State lawmakers will conduct a study next week on a variety of tax credits that cost the state hundreds of millions each year.

Rep. Jeff Hickman will oversee Monday's study of current tax credits, exemptions and incentives, along with a proposed tax incentive review committee.

Hickman currently serves as chairman of the House Revenue and Taxation Subcommittee, but was elected last week to be the next speaker pro tem, the No. 2 post in the House.

State lawmakers placed a moratorium on more than a dozen tax credits last year as they tried to fill a $1.2 billion hole in the state budget.

Some targeted industries, like aerospace, say they plan to fight to get some of those tax incentives restored next session.