Fix For State Tax Credit Fiasco To Be Put On Table

OKLAHOMA CITY (AP) _ State Senator Ted Fisher plans to offer legislation this week to permanently fix two state tax credit programs that critics say are being abused. <br/><br/>Loopholes in state law are

Saturday, May 6th 2006, 5:50 pm

By: News On 6

OKLAHOMA CITY (AP) _ State Senator Ted Fisher plans to offer legislation this week to permanently fix two state tax credit programs that critics say are being abused.

Loopholes in state law are costing taxpayers tens of millions of dollars without necessarily creating any jobs.

The state House has passed a bill to place a June 1st, 2007, moratorium on the tax credit programs, but Fisher says he wanted a bill to stop the abuse and allow legitimate job-creating efforts to continue.

The state Senate majority leader from Sapulpa says he'll have draft legislation ready Monday to close the loopholes.