When the State Senate approved SB 1577 this week, only two Senators voted against cutting the tax credit for the state’s at-risk oil wells. One of them was Sen. Ralph Shortey of Oklahoma City who led the debate against putting a $12.5 million cap on the credits that were expected to swell to $25 million …
May 26, 2016 archive
SB 1577’s Cap of $12.5 Million for At Risk Wells On Governor’s Desk
An Oklahoma bill providing a tax rebate for economically at-risk oil and gas wells received final passage in the Senate on Wednesday. Senate Bill 1577, co-authored by Senate Pro Tempore Brian Bingman and House Speaker Jeff Hickman, was originally filed on May 2 in order to slash a tax rebate program that was originally created …
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