President Pro Tempore
Senator Brian Bingman, R-Sapulpa
State Capitol Room 422
Oklahoma City, Oklahoma 73105
For Immediate Release: April 23, 2014
Senate Pres. Pro Tem, Finance Chair Mazzei
comment on House passage of income tax reduction
President Pro Tempore Brian Bingman issued the following
statement after the House voted to approve SB 1246. Bingman is principal
author of the income tax cut legislation, which now goes to Gov.
Mary Fallin for her consideration.
“This plan represents a fiscally responsible way to lower
Oklahoma’s income tax rate, fulfilling a commitment we made
to our citizens last year. It’s going to bolster our ongoing
efforts to help Oklahoma better compete for high pay jobs that will
help our citizens, communities and state prosper. With the House
giving its final approval, we look forward to Governor Fallin signing
this tax relief measure into law.” –Pres. Pro Tem Brian
Senate Finance Chair Mike Mazzei co-authored SB 1246 and presented
the measure on the floor of the Senate earlier this session.
“When fully implemented, this bill will provide Oklahoma taxpayers
with $200 million in tax relief. This is good legislation for the
citizens of our state.” –Sen. Mike Mazzei, R-Tulsa.
SB 1246 will reduce the state’s income tax rate from 5.25
percent to 5 percent beginning with tax year 2016, if certified
revenues for FY 2016 at least equal the certification level for
FY 2014. The legislation would further reduce the state’s
top income tax rate no sooner than two years later to 4.85 percent
if there is sufficient revenue growth to fund the reduction.
For more information, contact:
Sen. Bingman: (405) 521-5605