Oil group seeks tax breaks after campaign contributions

Sunday, April 24th 2005, 11:44 am

By: News On 6

OKLAHOMA CITY (AP) _ Just months after a political action committee for a state oil group donated more than 40,000 to state politicians, the association now is seeking millions of dollars in tax reductions.

An analysis by The Oklahoman shows the Oklahoma Independent Petroleum Association's Okie PAC made 41 donations worth at least 43,000 for last year's campaigns.

The group is supporting a bill that spells out which oil-related equipment is exempt from property taxes. Oil producers say their tax burden is met when paying gross production taxes, and state law intends for exemption of equipment from property taxes.

Critics say the legislation would cut about 50,000,000 dollars from tax rolls. They argue that would shift the burden for schools, libraries, rural fire districts and CareerTech districts to other taxpayers.