Loophole in tax law threatens budget

 
By Randy Ellis
Published: March 26, 2006

A tax loophole so big it threatens to cripple the state budget has lawmakers scrambling at the state Capitol.

"It's awful," said state Sen. Ted Fisher , who in the 1990s authored the two pieces of venture capital tax credit legislation that are now being abused.

"I wrote these two programs, and I'm sick to my stomach at how they've been corrupted," said Fisher, D-Sapulpa. "I never believed it could be corrupte...


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