Oklahoma

Moody’s Investors Service affirmed its Aa2 ratings and stable outlook on Oklahoma’s $222.5 million of general obligation debt.

Sen. Harry Coates, R-Seminole, said lawmakers need to do their duty and authorize bonds to repair the Oklahoma State Capitol without waiting for a popular vote in November.

DALLAS — Oklahoma Gov. Mary Fallin will propose an across-the-board cut in the state personal income tax rate at Friday's opening legislative session.

DALLAS — Conservative leaders of national and state anti-tax groups sent Oklahoma lawmakers a message Monday staking out a strict interpretation of a no-new-tax pledge signed by almost every member of the Legislature.

DALLAS — Oklahoma officials seeking an upgrade in the state's credit touted its strong economy and sound fiscal policies in talks last week with rating agencies.

Republicans in the Oklahoma House will back only a state bond proposal to repair the deteriorating state capitol this year, despite requests for other efforts.

The Oklahoma State Regents for Higher Education will ask lawmakers for a five-year program of $54 million in annual bond sales to reduce a $271 million backlog in the state’s endowed chair program.

Last week’s report from Oklahoma’s Task Force on Comprehensive Tax Reform said the state’s top personal income tax should be cut by 0.5% over the next two years from a ceiling of 5.25% in 2012 to 4.75% by 2014.

Oklahoma tax collections could reach pre-recession levels by mid-2012, Treasurer Ken Miller said Wednesday, as the state economy builds on gains achieved in 2011. "We saw a quickened pace of the recovery for 2011," he said.

Oklahoma Gov. Mary Fallin said last week that the state must repair and maintain its capitol building in Oklahoma City despite the outlook for a flat general fund budget in fiscal 2013.

The Oklahoma Board of Equalization last week adopted an official revenue estimate for fiscal 2013 that will give budget writers $400 million more than was available for the fiscal 2012 budget.

General fund revenues in November exceeded November 2011 collections by 22.6% thanks to increased oil exploration and production, Oklahoma finance director Preston Doerflinger said last week.

The Oklahoma Department of Transportation got the go-ahead last week from the Council of Bond Oversight for a $71 million debt issue to finance four highway projects.

The upward trend of Oklahoma’s economy should continue into the holiday season, Treasurer Ken Miller said last week at the release of the monthly tax receipts report.

Economist Arthur Laffer, famous for his Laffer Curve that promises economic growth from low tax rates, told a civic club summit last week that he supports proposals to eliminate Oklahoma’s personal income tax over 10 years.

DALLAS - Recent increases in monthly revenue collections will mean Oklahoma lawmakers won't face a shortfall when they convene in January, but little growth is expected in next year's budget.

Oklahoma Rep. T.W. Shannon, R-Lawton, said last week the state should sell some of its buildings and land to finance repairs to the state capitol in Oklahoma City.

The Oklahoma County Independent School District 12 extended its streak of successful bond elections to 54 with last week’s approval of a $35.5 million request.

Oklahoma County Independent School District 12 will renovate buildings and build a new elementary school if voters today approve a $33.5 million general obligation bond measure.

DALLAS - Improved revenue collections indicate Oklahoma's years of budget shortfalls are history, Treasurer Ken Miller said Thursday in announcing the 20th consecutive month of revenue increases.