Okla. Legislature Oks Tax Breaks For Storm Victims - KSWO 7News | Breaking News, Weather and Sports

Okla. Legislature Oks Tax Breaks For Storm Victims

OKLAHOMA CITY (AP) - The Oklahoma Senate has approved a bill to provide various tax breaks to property and vehicle owners who suffered losses in Monday's tornado that tore through Moore and left 24 people dead.

The bill approved unanimously in the Senate on Friday also provides sales tax breaks for businesses that donate inventory to help storm victims and property tax credits for property that increases in value after it's rebuilt.

The bill applies to victims of tornados that occur in 2013 and for which a Presidential Major Disaster Declaration was issued. The measure still must be approved by the House before the Legislature adjourns.

The measure was sponsored by Moore Republican Sen. Anthony Sykes, who represents most of the communities hit hardest by Monday's storms.

 Online:

Senate Bill 330: http://bit.ly/16TdnXX

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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