State Rep. Mike Shelton, (D-OKC) figures if the oil and gas industry gets huge tax breaks from the Oklahoma legislature, then homeowners who bought insurance because of earthquakes should get a break too.
He plans to file such a bill in the coming legislative session to help Oklahomans harmed by the earthquakes.
“I think this is only fair, since the state of Oklahoma has forced these man-made earthquakes on us,” said Shelton in explaining why he is introducing the measure. “The Legislature has authorized huge tax breaks ford the oil and gas industry, so I think property owners who have been harmed by earthquakes triggered by energy industry wastewater disposal wells should get a tax benefit too.”
Under his bill, those who bought earthquake insurance would also get an income-tax credit equal to the cost of the coverage premium.
