The Norman Transcript

State/Region

April 11, 2013

Three new tax breaks approved

OKLAHOMA CITY — While Republican legislators in Oklahoma continue wrangling over how to scale back costly tax credits, lawmakers approved three new tax breaks on Wednesday for tickets to sporting events, construction of affordable homes and the purchase of helicopters.

All three bills were approved Wednesday by the House Appropriations and Budget Committee, including one for the purchase of helicopters that narrowly failed in the same committee just last week.

Rep. Charles Ortega, R-Altus, said the tax credit is designed to show state support for a helicopter training facility opening in southwest Oklahoma.

A fiscal analysis of the proposed tax credit shows it will cost the state about $1 million in the upcoming fiscal year, and an additional $535,000 in fiscal year 2015.

The credit applies to the purchase of rotary-winged aircraft used exclusively for training.

The other tax breaks approved in Wednesday’s budget committee include one to offer a tax credit for the manufacturing of federally qualified affordable housing and another to modify the sales tax exemption on tickets and hospitality packages for certain championship sporting events.

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