Senator Mike Mazzei is proud to represent the
citizens of District 25 in the Oklahoma State Senate, serving
portions of South Tulsa, Bixby and Broken Arrow. Senator Mazzei
currently serves as Chairman of the Senate Finance Committee.
Mike Mazzei was elected to the Oklahoma State Senate
in 2004 and brings a broad range of financial and business
experience to the legislature. In 2008, Mike was re-elected for a
second term of office and again in 2012 for his third and final
Mike's priorities for his legislative service are to
confront the dangers that have been causing jobs, corporations,
teachers and successful retirees to leave Oklahoma. He believes we
can pursue the opportunities of successful job growth by reforming
Oklahoma's tax policy to be more competitive in the 21st century. He
also believes that as we grow personal income, we will have more
resources to invest in schools, roads and health care.
In his personal profession, Mike Mazzei, CFP®, is the
President of Tulsa Wealth Advisors, which operates a branch of Raymond
James Financial Services, Inc. (Member FINRA/SIPC) in Tulsa, Oklahoma.
He created The Financial Freedom Process® to help individuals leverage
their wealth in order to achieve their lifetime visions.
In 2013 Mike authored and published his book, “Solving
Your Financial Planning Puzzle.” Mike was ranked #1 in the state of
Oklahoma for Barron’s 2014 list of top advisors in the country. Mazzei
has been named to Barron’s Top Advisor list every year since 2010 and
has been the #1 advisor in Tulsa for the past two years.
Senator Mazzei is a graduate of George Mason University
and the College for Financial Planning, and is a member of the
Financial Planners Association. Mike belongs to Asbury United
Methodist Church and serves on the board for The Salvation Army.
Mike and his wife, Noel have five children; the eldest
daughter, Maria, triplets Caleb, Carissa, and Mykaela, and youngest
This bill renews the sales tax exemption for educational foundations
of both private and public schools.
the date on which a penalty would be charged, on the Franchise Tax
Return, from September 1 to September 15 for the returns that are
due July 1. It is estimated that this change would save corporations
at least five hundred thousand dollars ($500,000.00) in preparations
SB1150 – This
bill places a December 31, 2014 sunset date on the bank privilege
tax credit for the amount of the guaranty fee paid by the bank or
credit union to the SBA for the “7a” loan guaranty program.
Once expired, the Tax Commission estimates that the first revenue
impact would occur in FY-18, with a POSITIVE revenue impact of $510,000.
Background: The credit was first available in 2000, and may
be claimed against the 6% bank privilege tax which is paid by Oklahoma
banks and credit unions in lieu of income tax.
SB1151 – This
bill places a December 31, 2014 sunset date on the income tax credit
for profit from investment in an existing Oklahoma film or music
project. Once expired, the Tax Commission estimates that the
first revenue impact would occur in FY-18, with a POSITIVE revenue
impact of $16,000. Background: The credit was first
available in 2005 and is equal to 25% of the profit from such an
investment if reinvested in another Oklahoma film or music project.
SB1152 – Places
a 2017 sunset date on the income tax credit for workplace
modification expense tax and
for certain related modification expenses. If allowed to expire,
the Tax Commission estimates that the first revenue impact would
occur in FY-18, with a POSITIVE revenue impact of $21,000.
Background: The credit was first available in 2006 and is equal
to 10% of the gross wages paid (capped at $25,000 per taxpayer per
year) and 50% of modification expenses (capped at $10,000 per taxpayer
SB1153 – This
bill places a 2017 sunset date on the income tax credit for eligible
expenses paid by an entity in the business of providing child care
services. If allowed to expire, the Tax Commission estimates
that the first revenue impact would occur in FY-18, with a POSITIVE
revenue impact of $80,000. Background: The credit was first
available in 1999 and is equal to 20% of eligible expenses incurred
to comply with national accrediting association standards.
SB1170 – This
bill places a 2017 sunset date on the income tax credit for electronic
fund transfer fees paid by an individual or entity licensed as a
money or wire transmitter. If allowed to sunset, the Tax Commission
estimates that the first revenue impact would occur in FY-18, with
a POSITIVE revenue impact of $348,000. Background: The
credit was first available in 2009 and is equal to 100% of such
SB1226 – This
bill places a 2017 sunset date on the bank privilege tax credit
for the income received by a financial institution on a loan made
under the Rural Economic Development Loan Program. If allowed
to expire, the Tax Commission estimates that the first revenue impact
would occur in FY-18, with NO CHANGE in revenue impact. Background:
The credit was first enacted in 2003, and may be claimed against
the 6% bank privilege tax which is paid by Oklahoma banks and credit
unions in lieu of income tax.
SB1246 – This legislation
will reduce the top marginal individual income tax rate from 5.25%
to 5.0% beginning with tax year 2016 and to 4.85% for subsequent
tax years (no earlier than two tax years after the 5% rate is in
effect), contingent upon certain revenue growth. When fully
implemented, this plan will save Oklahoma taxpayers $200 Million.
HB1416 – Amended
the Oklahoma Quality Jobs Act (QJA) to allow the state’s military
installations to direct payments resulting from jobs they create
under the QJA to an Oklahoma “proxy establishment”, allowing the
funds to be invested in Oklahoma job creation, land acquisition
and infrastructure development. The U.S. Air
Force plans to locate more than 1300 new jobs at Tinker AFB to perform
maintenance work on KC-46A, the Air Force’s next generation aerial
refueling tanker. These jobs will average $66,000 per year.
HB2509 – Modifies
definition of “qualified employee” in the Aerospace tax credit provisions
to include a person previously employed in the industry before earning
a degree and also a person who was employed in another
state and transferred; providing for sunset of the credits at the
end of 2017.
HB2630 – This
legislation requires new state employees to participate in a 401K
style retirement savings plan. The State of Oklahoma will
contribute 3% of pay to the plan and match up to 7% of pay to a
participant’s account. Employees will maintain control of
their own savings and be able to take their savings with them even
if they leave state government. This plan does not affect
teachers, firefighters or law enforcement personnel in any manner.
This reform is projected to save taxpayers $3.8 Billion over the
next 30 years. (Co-author)
- Placed a sunset date on two tax credit provisions - those for
use of coal and wind for power generation. Also eliminated the ability
to transfer those credits after 2013, making them refundable at
85% of value.
SB484 - An
Act relating to jury duty; amending 38 O.S. 2011, Section 28, which
relates to qualifications and exemptions; increasing certain time
period; and providing an effective date. Exempts individuals
from having to serve as a grand or petit juror more than once within
a certain time period; the time period would be extended from 2
years to 5 years.
SB1062 – Is
a historic piece of legislation and a true game changer for Oklahoma.
Oklahoma finally joins other states in creating an Administrative
System to address workplace injuries. Our past Work Comp System
has been the number 1 job killer in Oklahoma. In states that
have enacted Administrative Systems as planned in SB1062, benefits
to injured workers have increased while costs to business have decreased.
Senator Anthony Sykes stated “I want to thank Senator Mazzei for
his unwavering support of SB1062.” (Co-author)
Relates to the Oklahoma Firefighters Pension and Retirement System;
modifying date of retirement for members beginning employment after
certain date; providing that members beginning employment after
certain date may participate in deferred option plan after a certain
number of years of service; specifying how interest is to be earned on
benefits placed into certain plan; providing for payment of certain
administrative fee; allowing members who enter the System after
certain date to receive a vested benefit in lieu of accumulated
contributions upon termination of service; establishing benefit for
members who enter service after certain date and elect to receive a
vested benefit in lieu of accumulated contributions; increasing the
minimum member contribution; increasing the contribution rate paid by
municipalities to the System; also relates to apportionment of the
insurance premium tax; increasing the percentage of certain tax which
is allocated to the Oklahoma Firefighters Pension and Retirement
Fund. These reforms put the Oklahoma Firefighters Pension System on a
path to stability and save over $700 Million over the next 30 years.
HB 2308 – We
also eliminated 21 tax preference items this year. Never before in
Oklahoma history have we actually repealed a group of special interest
tax credits/deductions. This includes eliminating the deduction for
political contributions. Of our original list of 23 high value items
targeted for elimination at the beginning of the year, we only dropped
2 by the end of our deliberations. This success generated a savings
of $1.4 million. (Co-author)
– Job retention and creation – extension of manufacturing incentive
program which will help retain 500 high paying jobs and the creation
of an additional 300 jobs in the railcar rolling stock industry.
– This legislation allows the people of Oklahoma to amend the Constitution
to make sure all Oklahoma businesses do not have to pay taxes on
intangible properties. (SQ 766)
– This bill provides a framework to shut down the Oklahoma Capital
Investment Board. This venture capital program proved to be an ineffective
use of taxpayer money. It lacks transparency and generated few long
term jobs. Ending this obsolete program should save taxpayers $60-70
– This legislation amends the successful Quality Job program to
allow manufacturing and operations of oil and gas companies to qualify
for incentives based upon job creation. This will help important
Oklahoma energy companies keep and bring to Oklahoma manufacturing
operations with their high paying jobs.
– This legislation extends to important employers, such as American
Airlines, a sales tax exemption for manufacturing and maintenance
equipment purchased in Oklahoma. Companies like AMR will now be
able to purchase supplies in Oklahoma instead of other states creating
more economic activity in Oklahoma. It represents our commitment
to assist American Airlines through its restructuring process.
– This legislation continues our commitment to increase dedicated
funding for our roads and bridges program. It designates $59.7
million to the ROADS fund for automatic increases until the fund
reaches $575 million.
– This infrastructure legislation changes the apportionment from
motor vehicle tag revenues of FY-13: $1,700,000; FY-14: $21,063,393;
FY-15: 31,126,614 to be fully dedicated to the County Improvement
for Roads & Bridges fund. (It decreases the amount going
to the General Revenue Fund from 29.84% to 24.84%. That
5% will gradually (3 year period) go to the County Improvements
for Roads and Bridges Revolving Fund.)
SB347 - Stipulates that any municipal employee,
including police officers, convicted of a felony will forfeit taxpayer
funded retirement benefits. The convicted employees will retain
their personal contributions, but taxpayers should not have to fund
retirement for municipal employees who abuse the public trust.
SB794 - Eliminates a special retirement benefit
feature for Oklahoma elected officials. This feature enabled Oklahoma
legislators to accumulate twice the monthly benefit of a regular
state employee. Going forward, elected officials will now have the
same type of retirement benefit as regular state employees.
HB1953 - Establishes a business deal closing fund
which will enable Oklahoma to invest in infrastructure projects
to attract jobs to Oklahoma. The State will retain a vested interest
in all joint public-private business deals with "claw-back"
penalties for companies that don't produce the jobs specified for
the business project.
HB2132 - Requires that all of Oklahoma's six pension
systems actually fund all cost of living adjustments. This reduces
the total future unfunded liability of the State's pension plans
from $16 billion to $10 billion.
SB938 - Created the 21st Century Quality Jobs Incentive
Act, which builds on the highly successful Quality Jobs Program
to grant even greater incentives to companies who produce jobs which
are significantly higher than Oklahoma's average income per person.
SB1264 - Allows a person a level of privacy by
being able to place a post office box number as their address on
a driver’s license, suggested by a constituent after her purse
SB1267 - Places a moratorium on special interest
SB1631 - Eliminated the prohibition
for municipalities to help develop retail establishment, helping
Bixby to collaborate with retailers wishing to locate in Bixby.
SB909 - Enables new businesses in
Oklahoma to benefit from both the Quality Jobs program and the Investment
Tax Credit program. Oklahoma has been losing business to other
states because both programs were not being offered to potential
new employers. Among companies that will benefit from SB909
is the Holly Corporation as they purchase a local refinery and keep
over 400 jobs in Tulsa that would otherwise have been lost.
SB938 - The 21st Century Quality Jobs Act now gives Oklahoma the
premier business incentive program in the country. This bill
provides greater performance rebates for jobs created which pay
more than three times the average county wage.
HB2067 - An innovative program which
allows local government entities to combine efforts and resources
for infrastructure, investments and economic development programs.
SB1641 - closes a loophole in the
Oklahoma Public Employees Retirement System that costs taxpayers
millions of dollars by allowing certain elected officials with previous
government service to collect more money in retirement than they
made in office.
SB1943 - provides financing for major
destination development and stimulate tourism projects all across
Oklahoma at no cost to the taxpayer.
SB2153 - modifies various provisions
relating to Oklahoma Quality Jobs Program Act to allow for two significant
Tulsa companies to participate in the program which will help them
stay in Tulsa and add another 100 high paying jobs. The legislation
also clarified the timing aspects of incentives earned by the performance
of EDS, one of our important local employers.
HB3239 - provides tax incentives
to recruit engineering students for aerospace positions in Oklahoma’s
important aerospace industry.
SB357 - establishes a long-term solution
to bring fiscal stability to the Oklahoma Teachers Retirement System
by raising employer contributions through the education budget. An
annual infusion of an extra $60 million per year should help the
woefully under funded system improve from an unacceptable 50% funded
level to an 80% level around the year 2026.
SB861 - provides tax relief to hard-working
Oklahomans by (1) accelerating the state income tax reduction from
5.65% to 5.25% one year sooner; (2) establishes our first back-to-school
sales tax holiday; (3) eliminates the franchise tax for most small
businesses; and (4) provides a tax credit for families with children.
SB407 - allows the Grand River Dam
Authority to enter into derivative products and financial instruments
to manage interest rate costs in connection with issuing bonds. Also
creates the Joint Legislative Task Force on the Grand River Dam
Authority to study its functions, policies, procedures and expenditures.
HB2070 - adds the Firefighters, Police
and Law Enforcement Retirement Systems to the requirements of the
Oklahoma Pension Legislation Actuarial Analysis Act. This will
ensure that legislation affecting these systems will have to go
through the Senate process of comprehensive cost analysis and funding
for any approved legislation.
SB1771 - creates the Oklahoma State
University Medical Authority Act to ensure this hospital and medical
teaching university stays in Tulsa for the long-term.
SB1894 - creates the Oklahoma Pension
Legislation Actuarial Analysis Act, which requires all changes to
the retirement system go through a two-year process in the legislature. An
in-depth fiscal analysis must be performed on each proposed change
once a bill has been introduced so that lawmakers have a true idea
of how the retirement system will be enacted.
SB1020 - helps protect soldier’s
families by creating the Oklahoma Funeral Picketing Act and provides
for a specific time and distance protesters can use to picket at
HB2538 - streamlines the adoption
process by allowing an easier process for terminating parental rights. This
bill also defined conduct that constitutes the crime of child trafficking.
SB407 - modified the Small
Employer Quality Jobs Incentive Act to make the job creation reward
program more applicable to technology, research and bio-technology
2300 N. Lincoln Blvd., Rm. 424
Oklahoma City, OK 73105
Executive Assistant: Roxanne Blystone
6528 E. 101st Street, Suite D-1
Tulsa, OK 74133
1375 E. 71st Street
Tulsa, OK 74136
District Information: District 25
Zip codes Represented
- 74008, 74011, 74012, 74037,
74129, 74133, 74137, 74145, and 74146.
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