OCPA Impact: After Ruling, Oklahomans Still Getting Tax Relief
DAVE BOND: After ruling, Oklahomans still getting tax relief
This past December, Oklahoma taxpayers dodged a bullet.
Thanks to a sounding of the alarm by a coalition of state legislators and others, along with prudent deliberations by Oklahoma Supreme Court justices, the largest tax increase in state history was averted.
In October, the Court heard a lawsuit against Senate Bill 1246, the income tax reduction passed during the 2014 legislative session.
The suit considered the new statute unconstitutional for violating State Question 640 – Oklahoma’s tax limitation provision, approved by voters in 1992.
SQ 640 mandates that bills increasing taxes either be approved by a vote of the people or pass with three-fourths majorities in the Legislature before the last five days of session.