The Norman Transcript

Local news

June 30, 2013

Tax cut, capitol bill to take effect

OKLAHOMA CITY — Oklahomans won’t see an income tax cut for another 18 months, but the bill that paves the way for the average Oklahoma tax filer to save about $80 per year in state income taxes is one of more than 70 bills that take effect on Monday.

The measure, a key part of Gov. Mary Fallin’s agenda and supported by Republican legislative leaders, also diverts $120 million in state income tax collections over the next two fiscal years to pay for a major overhaul of the nearly 100-year-old state Capitol that houses the Oklahoma Legislature and several other state agencies.

The first income tax cut takes effect in January 2015, dropping the top rate from 5.25 percent to 5 percent. A second cut to 4.85 percent is scheduled to take effect in 2016 if certain revenue collection triggers are met.

The bill calls for $60 million in income tax collections to be diverted from the state’s General Revenue fund in the fiscal year that begins Monday and another $60 million in the fiscal year that begins July 1, 2014, to pay for repairs.

The building has been plagued for years with sewage and electrical problems, and access to the south side of the building has been blocked with bright yellow barricades to prevent pedestrians from walking beneath where pieces of the building’s limestone facade have fallen.

“The Capitol building is an important symbol of our state and the plan I signed into law will provide the necessary funding to repair and restore the people’s house,” Fallin said in a statement.

A separate bill that also goes into effect on Monday calls for the creation of a new nine-member Long-Range Capital Planning Commission to oversee the repairs to the Capitol. The panel also will be charged with developing an eight-year plan to address the needs of other state assets, including recommending certain state properties that should be liquidated.

Text Only | Photo Reprints
Local news
  • N7 Sooners come together to serve Native American youth

    Whitney Wofford has faced some tough competition as a part of the Oklahoma tennis team. However, on Wednesday, Wofford may have taken on her biggest and most rewarding competition yet at the Sooners For N7 event at the Oklahoma football ...

    April 10, 2014 3 Photos

  • During annual banquet, Chamber of Commerce promotes moving Norman forward

    Amidst the backdrop of music, dancing, dinner and fellowship, business leader Mike Fowler announced that the time for a quality-of-life initiative in Norman has come. As incoming Norman Chamber of Commerce board chairman, Fowler and ...

    April 18, 2014

  • Symposium speaker Paul Polik: Commerce can help and bring millions out of poverty

    How to harness the power of commerce to address social and environmental challenges in sustainable ways was the topic of discussion at the University of Oklahoma Center for the Creation of Economic Wealth’s fourth annual Social ...

    April 18, 2014

  • Amber waves turn gray as farms lose younger generation

    OKLAHOMA CITY — Jerry Pfeiffer was thrilled when his son, Kelsey, 25, announced plans to return to the family’s farm in Orlando....

    April 18, 2014

  • Postal retiree luncheon set

    A postal retiree luncheon will be 11:30 a.m. Monday at Golden Corral Buffet and Grill, 123 N. Interstate Drive in Norman. Diners will meet in the lobby. For more information, call Joyce Carle at 872-5157....

    April 18, 2014

  • Flapjack fundraiser set

    The Apple Gold Group, a franchisee of Applebee’s Neighborhood Grill and Bar, will partner with the Global Outreach Team at Go Church to host a Flapjack Fundraiser on April 26. Proceeds raised will be used by team members to purchase ...

    April 18, 2014

  • OU Hornsemble goes to the movies

    The OU Hornsemble will present a concert of music from the cinema at 6 p.m. April 27 in the Paul F. Sharp Concert Hall. Billed as “Movie-Time Music,” the ensemble will present a wide variety of cinematic music from the 1940s to the ...

    April 18, 2014

  • Woman bound over for trial

    A Slaughterville woman facing a manslaughter charge after the death of an 8-year-old child was bound over for trial this week after a preliminary hearing in Cleveland County District Court. Kimberly Dawn Wenthold, 29, was charged in ...

    April 18, 2014

  • MNTC campaign focuses on dangers of texting while driving

    Students enrolled in Moore Norman Technology Center’s Career Exploration Education class are taking a class project that they feel strongly about to an involved level within their community. They are raising awareness among their high ...

    April 18, 2014

  • Fighting to rid world of polio

    A small crutch leaned against a podium inside an Oklahoma Memorial Union room Wednesday evening. It was a prop, retrieved and held aloft by Shawn Arnold as he described his early battle with polio....

    April 18, 2014