Oklahoma

Oklahoma will reduce spending by $74 million or 1% under a $7.1 billion budget agreement between Gov. Mary Fallin and legislative leaders.

A former Oklahoma lawmaker is seeking to have $2 billion of budget bills from the past three years declared unconstitutional by the state Supreme Court.

An 8.2% increase in income tax receipts kept Oklahoma revenues positive despite the continued weakness of oil and gas income.

The Oklahoma House approved a bill that pre-empts local control of oil and gas drilling after an official report linked disposal wells to swarms of earthquakes.

After years of official skepticism, publicly funded studies in Texas and Oklahoma cite oil and gas industry activity as the probable cause of earthquakes in the two states.

Tax revenue from oil and gas production in Oklahoma has fallen to a 12-year low, according to the latest report from state Treasurer Ken Miller.

The Internal Revenue Service has determined that multifamily housing revenue bonds issued by the Tulsa County Industrial Authority in 2003 are taxable, but it is unclear to what extent bondholders will be affected by the Service's conclusion.

Craig General Hospital in northeastern Oklahoma continues to operate after filing for bankruptcy protection.

Integris Health Group received more than $1 billion of orders for $200 million of refunding bonds issued through the Oklahoma Development Finance Authority, producing savings of 5.8%.

With the reactivation of ancient fault lines by seismic activity over the past five years, Oklahoma now faces the risk of a major earthquake in areas of the state where oil and gas is produced by hydraulic fracturing of tight shale formations, according to a new report by geological researchers.

Tax revenue in the top oil producing states has fallen sharply, dropping by 40% in Texas, according to the U.S. Energy Information Administration.

Tulsa Public Schools won 80% approval for its record $415 million bond proposal that will help the inner-city district compete with its suburban rivals.

The doubling of Oklahoma's revenue shortfall to $600 billion is “the latest data point in a credit-negative trend,” according to Moody's Investors Service.

In a review of key public finance sectors affected by falling oil prices, Moody's Investors Service analysts see an upside for transportation and those supported by consumer spending.

Voters gave three Tulsa, Okla., area school districts authority to issue $487 million of bonds for school construction, including $340 million for the Broken Arrow district.

Delivering her budget and state-of-the-state address on the same day, Oklahoma Gov. Mary Fallin urged the opening session of the state Legislature to find a longterm solution to this year’s $300 million shortfall.

In a state with the nation's highest incarceration rate, Oklahoma Gov. Mary Fallin is calling on the state legislature to reduce the number of inmates through drug treatment and mental health programs.

In the opening session of the Oklahoma Legislature, House Speaker Jeff Hickman calls for sacrifice from state employees and recipients of state services as revenue falls 4.1%.

Tulsa Public Schools are planning to ask voters for one of the largest bond issues in Oklahoma history at $415 million.

A year after the Oklahoma Supreme Court struck down legislation authorizing $120 million for repairs to the state Capitol, the first bond issue of $50 million is going to market in January with the court's approval.