LEGISLATIVE ALERT – State Historic Credits & State Low Income Housing Tax Credits

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:

Rep. Bennett, John Rep. Biggs, Scott Rep. Caldwell, Chad
Rep. Calvey, Kevin Rep. Casey, Dennis Rep. Cockroft, Josh
Rep. Dunnington, Jason Rep. Echols, Jon Rep. Henke, Katie
Rep. Inman, Scott Rep. Jordan, John Paul Rep. Kouplen, Steve
Rep. Loring, Ben Rep. Martin, Scott Rep. Murphey, Jason
Rep. O’Donnell, Terry Rep. Ortega, Charles Rep. Ownbey, Pat
Rep. Pfeiffer, John Rep. Proctor, Eric Rep. Roberts, Dustin
Rep. Russ, Todd Rep. Sanders, Mike Rep. Sears, Earl
Rep. Stone, Shane Rep. Virgin, Emily

Senator Kim David is Chair of the Committee and Senator Eddie Fields is Vice Chair. Other Senators on JCAB include:

· Mark Allen · Randy Bass · Micheal Bergstrom · Stephanie Bice

· Larry Boggs · Josh Brecheen · Bill Brown · Nathan Dahm

· Julie Daniels · J.J. Dossett · Tom Dugger · Kay Floyd

· Jack Fry · AJ Griffin · David Holt · Darcy Jech

· Chris Kidd · James Leewright · Bryce Marlatt · Kevin Matthews

· Greg McCortney · Dan Newberry · Joe Newhouse · Lonnie Paxton

· Roland Pederson · Dewayne Pemberton · Anastasia Pittman · Adam Pugh

· Marty Quinn · Dave Rader · Paul Scott · Ron Sharp

· Wayne Shaw · Joseph Silk · Frank Simpson · Jason Smalley

· John Sparks · Rob Standridge · Gary Stanislawski · Anthony Sykes

· Roger Thompson · Ervin Yen

If either of these issues is important to you or your business, we encourage you to reach out to your Senator and Representative.

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