Oklahoma

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.

Tulsa, Okla., Mayor Dewey Bartlett said last week the city would provide $3 million of bond proceeds to build a downtown parking garage if the Legislature will approve a $42.5 million issue for a proposed cultural museum in the city.

DALLAS — Oklahoma Gov. Mary Fallin and Republican leaders in the Legislature have agreed on income tax cuts that would reduce state revenue by almost $33 million next year and more than $100 million in fiscal 2014.

DALLAS — Leaders of the Democratic minority in the Oklahoma Senate said Monday they would oppose any of several state bond proposals while Republican-sponsored cuts in the state income tax rate remain on the table.

Oklahoma state revenues of $1.16 billion in April were $83 million more than in April 2011 despite a slide in oil and gas production tax collections.

DALLAS — A continuing decline in severance tax revenues caused by low natural gas prices will not blow a hole in Oklahoma’s proposed fiscal 2013 budget, Finance Secretary Preston Doerflinger said Friday.

Oklahoma Gov. Mary Fallin asked for an audit last week of the American Indian Cultural Center and Museum after three lawmakers opposed to a state bond issue for the facility called for the oversight.

Canadian County Independent School District No. 69 will build a new elementary school and two sixth-grade centers with proceeds from $95.2 million of general obligation bonds approved by voters last week.

DALLAS — Oklahoma's two-year streak of monthly revenue growth was halted in March by a drop in energy production tax collections due to a prolonged fall in natural gas prices.

Oklahoma lawmakers are considering $150 million of bonds to finance repairs and renovations at the state capitol that are expected to cost $140 million.

DALLAS — Oklahoma lawmakers have approved five competing measures cutting the state income tax that must be reconciled before the fiscal 2013 budget can be developed.

DALLAS — The Oklahoma Senate adopted a 10-year phaseout of the state's personal income tax Monday that could reduce revenues by more than $4 billion over the next four fiscal years.

February tax revenues of $810 million were $107.4 million more than expected and the 24th time in a row that Oklahoma revenues have been on the increase, Treasurer Ken Miller said last week.