Okla. House OKS bill expanding company tax credits

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Associated Press

Posted on April 16, 2013 at 1:04 PM

OKLAHOMA CITY (AP) — The Oklahoma House has passed a bill extending a tax incentive to some pipeline, securities and telecommunications companies.

The bill passed Tuesday on a 70-25 vote. The House and Senate must now work out a compromise because of House changes to the Senate version.

The bill modifies the Oklahoma Quality Jobs Program that provides tax incentives to several industries if they operate in the state and meet minimum salary and other requirements. The incentive is calculated based on the companies' wages.

The bill would also take away the incentives if a company leaves the state within three years of receiving them.

Some representatives questioned if the incentive is necessary or would help the state. Republican Rep. Mike Reynolds called it "trash" that would benefit only the state's Commerce Department.

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