House Committee Resurrects Rural Oklahoma Bill
Tuesday, February 6th 2007, 3:10 pm
News On 6
OKLAHOMA CITY (AP) A state House committee is resurrecting a bill to give income tax breaks in an effort to attract residents of other states to sparsely populated areas of rural Oklahoma.
The measure is identical to a bill proposed last year by former House Speaker Todd Hiett. It provides a five-year income tax exemption to residents of other states who build or buy a home in Oklahoma counties of fewer than 200,000 residents.
The tax break is also good for those who build or buy in cities or towns with between 500 and 50,000 residents and have lost population since 1940.
The exemption would be available in 48 of Oklahoma's 77 counties as well as 43 cities and towns within the 29 counties where the exemption is not available.