Oklahoma

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.

Oklahoma Gov. Mary Fallin said last week she was “very embarrassed” by the deteriorating condition of the state capitol building in Oklahoma City.

Former Oklahoma House Speaker Chris Benge told a legislative panel last week that the state should not eliminate its income tax without finding another revenue source.

Moody’s Investors Service said it is taking no immediate rating action after the Oklahoma Supreme Court reversed a $7.1 million settlement between Tulsa and the Bank of Oklahoma on a loan default.

Voters in Edmond, Okla., last week overwhelmingly approved a 0.5% increase in the city’s sales tax to build a $25.5 million police station after rejecting a similar $31.5 million proposal in 2008 by a 61% margin.

Oklahoma is losing $185 million to $225 million a year in sales tax revenues to online marketers, a spokeswoman for the Oklahoma Tax Commission said last week in remarks to a legislative panel studying the state’s tax exemptions and exclusions.

DALLAS - Steady growth in Oklahoma's revenue collection is a sign that its economy is strengthening, Treasurer Ken Miller said Tuesday.

DALLAS - Oklahoma would replace or rebuild 706 sub-par bridges on state highways by 2019 without raising taxes or fees under a modernization plan outlined Monday by Gov. Mary Fallin.

DALLAS - The Oklahoma Turnpike Authority will reduce its exposure to the vagaries of variable-rate debt and cut its debt service costs with next week's negotiated sale of $521.7 million of revenue refunding bonds.

Voters handily approved a request last week for $90.5 million of general obligation bonds by Oklahoma County Independent School District No. 52. The measure passed with 81% in favor from the more than 4,300 voters going to the polls.

The chairman and co-chair of a state tax reform panel last week urged the group to support a gradual elimination of Oklahoma’s personal income tax.

Oklahoma revenue collections resumed their double-digit increases in August after dipping into single-digit territory in July, state Treasurer Ken Miller said last week.

DALLAS - Oklahoma faces financial obstacles in meeting its water needs over the next 50 years, according to a draft action plan developed by the Oklahoma Water Resources Board.