Oklahoma

A sales tax extension going to voters in Tulsa County, Okla., Nov. 6 would generate $748.8 million over 13 years for economic development and capital improvement projects. The 0.6% sales tax would be extended through 2029.

Revenues from a 1.5% sales tax in Del City, Okla., that is up for renewal on Aug. 28 would fund the demolition of an old police station in order to build a replacement fire station.

An Oklahoma school district will ask voters on Aug. 28 to authorize $12.7 million of general obligation bonds after a $49.5 million bond referendum failed.

Oklahoma City collected $12 million from its 5.5% hotel tax in fiscal 2012, up almost 10% from fiscal 2011 and $668,000 more than expected when the budget was developed.

Healthy gains in income tax and sales tax collections pushed Oklahoma's state tax collection in July above July 2011 revenues despite a 42% plummet in natural gas and crude oil production taxes. It was the eighth straight month of declining energy severance tax revenues, but the state's overall economic indicators are positive, said State Treasurer Ken Miller on Thursday. Revenues totaled $854.9 million in the first month of fiscal 2013.

Oklahoma House Speaker Kris Steele, R-Shawnee, last week formed the House Tax Credit and Economic Incentive Oversight Committee to investigate the effectiveness of the state's economic tax credits and incentives.

Oklahoma's bond rating would be better if the state issued more bonds for vital infrastructure projects, the Daily Oklahoman said Friday in a lead editorial.

Oklahoma put $306.8 million into its budget stabilization fund last week, bringing the total rainy day reserve to $556 million.

Oklahoma Gov. Mary Fallin last week reiterated her support for a state bond issue to repair the deteriorating Capitol building in Oklahoma City.

Oklahoma General Fund revenues in June were below June 2011 totals due to a 42% drop in energy severance tax collections, State Treasurer Ken Miller said.

Construction of the American Indian Cultural Center and Museum in Oklahoma City was halted July 1 when money for the project ran out.

DALLAS — The Oklahoma Legislature’s failure to pass proposed income tax cuts in the recently completed session will give lawmakers an additional $16 million to appropriate when they convene in 2013.

DALLAS — Oklahoma's rainy-day fund likely will exceed its pre-recession level of almost $600 million by the end of fiscal 2012 on June 30, up from a low point of only $2.03 in January 2011.

DALLAS — The Tulsa County, Okla., Independent School District No. 3 will finance the second phase of its capital improvement plan with proceeds from $67.3 million of lease revenue bonds issued by the Tulsa County Industrial Authority.

Oklahoma revenues were up in May despite a cooling off of the state’s oil and gas severance tax collections, Treasurer Ken Miller said last week. Collections were up 6% from last year, he said, down from the average growth of 9.2% over the last 12 months.

Tulsa County, Okla., officials are considering a $340 million package intended to keep American Airlines and other aviation-related businesses at Tulsa International Airport.

The Oklahoma House gave its approval to a $6.8 billion budget for fiscal 2013 in a 52-to-42 vote Thursday after initially deadlocking 47 to 47.

Oklahoma Gov. Mary Fallin said last week she would not call a special legislative session to resolve a dispute between House and Senate leaders over cuts in the top income tax rate.

DALLAS — The Oklahoma House decisively rejected a proposed $200 million bond issue for state capitol repairs late Wednesday as lawmakers bowed to arguments that the additional debt would be a mistake.

DALLAS — Oklahoma Gov. Mary Fallin and Republican legislative leaders reached agreement Monday on a $6.8 billion budget for fiscal 2013.