State Income Tax Cut Headed To Governor’s Desk
Oklahoma House passes income tax measure
By Michael McNutt | Published: May 1, 2013
The Oklahoma House of Representatives passed a measure Wednesday that would reduce the top personal income tax rate and provide money to repair the state Capitol.
House Bill 2032 now goes to the governor, who has said she would sign it. The Senate passed the measure 32-14 last week.
The House voted 65 to 35 to pass the measure.
HB 2032 would reduce the state’s top income tax rate, which most residents pay, to 5 percent from 5.25 percent effective Jan. 1, 2015.
HB 2032 was one of three bills that was part of a deal announced last week by Gov. Mary Fallin, House Speaker T.W. Shannon, R-Lawton, and Senate President Pro Tem Brian Bingman, R-Sapulpa. The other key agreements dealt with Senate Bill 1062, which would overhaul the state workers’ compensation system, and HB 1910, which would develop a plan for the state to sell unneeded property and underused buildings and to develop an eight-year plan on the needs of state buildings.