At a glance: Key Oklahoma legislation

At a glance: Key Oklahoma legislation
Published: April 29, 2013
Advertisement
;

At a glance

Key measures

House Bill 2032

This proposal calls for lowering the top income tax rate to 5 percent on Jan. 1, 2015 and reducing it to 4.85 percent on Jan. 1, 2016, if certain revenue conditions are met. The rate being cut to 4.85 percent is contingent on total 2016 fiscal year revenue growth being able to cover the cost of the 0.15 percentage point personal income tax cut, or about $40.5 million. Altogether, the savings for the average taxpayer would be about $140 per year and cost the state about $237 million a year when both cuts are fully implemented. By delaying an income tax rate cut, lawmakers will have more funds available for state Capitol repairs. HB 2032 calls for allocating $60 million for the 2014 fiscal year and again for the 2015 fiscal year for state Capitol repairs.

Senate Bill 1062 This measure from the Senate would make the state workers' compensation system an administrative one. It also would allow certain businesses to opt out of the system so long as they provide equivalent benefits for injured workers. It also would change the payment limits for injuries.

House Bill 1910 This bill would create a pay-as-you-go infrastructure plan and establish the Long-Range Capital Planning Commission. It first would address the repair of the Capitol and later develop an eight-year plan to address maintenance issues with other buildings and properties.



Trending Now


AROUND THE WEB

  1. 1
    College of Charleston president orders second investigation of Doug Wojcik
  2. 2
    Joe Paterno's son Jay sues Penn State for 'improper termination'
  3. 3
    Former Dallas Cowboys running back Robert Newhouse dead at 64
  4. 4
    Oklahoma man gets consecutive 20-year terms for rapes of intellectually challenged classmates
  5. 5
    Angels won't cap former OU pitcher Garrett Richards' innings
+ show more