Just a few weeks after signing a bill into law to increase the gross production tax on oil and gas in Oklahoma, Gov. Mary Fallin has signed a bill repealing a $5 tax on hotel and motel rooms. She also signed two others that are estimated to replace the revenue to help fund teacher pay raises and increase education funding.
House Bill 1012XX is the one that repealed the hotel-motel room tax. House bill 3375 allows tribal casinos to use traditional roulette and dice games, the kind of gambling that was prohibited since a 2004 vote of the people.
The governor also signed HB 1019XX which requires third-party online retailers to collect and remit sales tax back to the state. It will affect purchases through sites like Amazon and will raise an estimated $20.5 million for public schools.
House Bill 1010XX came about when the House and Senate voted to repeal the hotel-motel tax. The bill is the measure that raised revenue to pay for an average $6,100 teacher pay raise, largest in state history.
“The revenue package that funded the teacher pay raises would not have passed the Senate with the required super majority, or three-fourths support, had a bipartisan agreement not been struck to repeal the hotel/motel tax,” Fallin said.
The increase in pay improved Oklahoma’s ranking of teacher salaries to 12th nationally when adjusted for cost of living. The new salary level also is second in the state-state region and improved from 49th to 29th nationally.
“This shows again that education is a priority with legislative leaders and me,” said Fallin. “The single-most important thing we can do to help Oklahomans have fulfilling and productive lives is improving the quality and outcomes of education.”
The capital gains tax deduction, which was a tax reform measure approved in a statewide vote in 2004, is an exemption from capital gains taxes for property and business located in the state of Oklahoma. The idea was to increase the incentive for people to invest in Oklahoma, and to put Oklahoma properties and businesses on an equal footing with other states.
