Group proposes income tax exemption

Friday, February 3rd 2006, 6:38 am
By: News On 6

OKLAHOMA CITY (AP) -- A five-year income tax exemption is proposed for out-of-state residents who move to the state and establish a home in areas that have lost population.

The "Come Home Oklahoma Act" is among the recommendations of the Rural Economic Development Initiative launched by House Speaker Todd Hiett.

The tax exemption announced Thursday would apply in about two-thirds of the state's 77 counties, plus areas in several other counties that have lost population.

It would cost $6-million the next fiscal year and estimated $60-million when fully implemented in six years.