Oklahoma City, OK 73105
For Immediate Release: April 21, 2015
Sen. Brian Bingman
Tax credit reform proposals advance to governor’s
The Senate and House on Tuesday gave final approval
to two proposals that would develop a system for evaluating tax
credits and economic incentives to determine their effectiveness.
Authored by Senate President Pro Tempore Brian
Bingman and House Speaker Jeff Hickman, Senate Bill 806 requires
that any economic incentive include a measurable goal or goals when
House Bill 2182 will provide legislators with independent data
on economic incentives, including estimated fiscal impacts and assessments
of whether incentives are achieving their goals. The late Rep. David
Dank was recently made the principal author of the bill, which is
sponsored by President Pro Tempore Bingman. Dank was a longtime
advocate for tax credit reform in the Legislature.
Bingman said the reforms would enable lawmakers to make more fiscally
sound decisions on economic development policy.
“Oklahoma taxpayers deserve a system that will ensure the
economic incentives we make available to businesses are accomplishing
the goals they were created for,” said Bingman, R-Sapulpa.
“These reforms will provide us with reliable, independent
data and allow us to identify tax credits that aren’t providing
us with a return on our investment.”
Sen. Rick Brinkley, who presented House Bill 2182 on the Senate
floor, said it was time for the Legislature to examine in greater
depth the numerous tax credits and incentives offered by the state.
“It is absolutely critical that we give greater scrutiny
to the $1.7 billion in tax credits and economic incentives we make
available to businesses,” said Brinkley, R-Owasso. “These
measures will establish the system we need to make more informed
decisions, identify ineffective tax credits, and protect Oklahoma
HB 2182 was approved in the Senate by a vote of 46-0. SB 806 was
approved in the House by a vote of 92-0. Both bills now advance
to the desk of the governor.
For more information, contact: