The Joint Committee on Appropriations & Budget (JCAB) of the Oklahoma Legislature is currently scheduled to meet this afternoon, Tuesday, May 16, 2017 in Room 206 from 1:30pm to 2:30pm. The Coalition has been notified that JCAB will be reviewing the following bills that affect our membership:
· HB2352 – A Bill to Reduce and Sunset the State Historic Tax Credit. HB2352 will cap the amount of state historic credits at $7M per year beginning January 1, 2018. This bill also sunsets the credit effective January 1, 2021.
· HB2354 – A Bill to Reduce and Sunset the Oklahoma Affordable Housing Act. HB2354 will reduce the amount of state low income housing credits from $4M per year to $2M per year beginning November 1, 2017 and also
Sunsets the credit. All properties receiving the state low income housing credit must be placed in service by July 1, 2022.
Representative Leslie Osborn is Co-Chair of the Committee. Representative Wallace is Co-Vice Chair of the Committee.
Representatives included in the committee are:
Senator Kim David is Chair of the Committee and Senator Eddie Fields is Vice Chair. Other Senators on JCAB include:
If either of these issues is important to you or your business, we encourage you to reach out to your Senator and Representative.