Oklahoma lawmaker criticizes premium tax credits - KSWO 7News | Breaking News, Weather and Sports

Oklahoma lawmaker criticizes premium tax credits

OKLAHOMA CITY (AP) _ The head of a state House committee that's scrutinizing millions of dollars in tax credits given to businesses and industries is questioning the growth in insurance premium tax credits.
 
   Rep. David Dank also questioned Wednesday whether the state should be reimbursing counties and schools for lost property tax revenue.
 
   Rep. David Dank said in a committee meeting that one of the insurance industry credits has grown from about $8.5 million in 2006 to almost $17 million in 2012. The credit goes to Oklahoma-based companies that employ a certain number of workers.
 
   Dank said the credit lacks the safeguards of the Quality Jobs Program, which offers incentives to businesses that meet targeted job requirements.
 
   He also noted the state shelled out $37 million to local entities for ad valorem tax reimbursement.

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