The Oklahoma Senate on Friday approved historic legislation to completely eliminate the state’s estate tax over a three-year period. House Bill 1172 was amended to contain language originally authored by Senators Mike Mazzei and Glenn Coffee in Senate Bill 334. In addition to eliminating the tax over a three-year period, the amendment provides immediate estate tax relief to non-lineal heirs such as nephews and nieces, treating them the same as lineal heirs such as children and grandchildren.

Mazzei said the approval of the legislation is a victory for Oklahoma taxpayers.

On Friday, State Senate Democrats killed a Republican amendment to speed up the elimination of the death tax.

“This vote is a clear indication of where senators stand on eliminating the death tax,” stated Senate Republican Leader Glenn Coffee, the amendment’s author. “Senate Republicans want to provide family farms and small businesses with relief from the death tax more quickly, while Senate Democrats want to make them wait until the year 2010 for this unfair tax to be eliminated.”

State Senators gave final approval Friday to the largest tax cut in state history, a measure that will lower taxes for state residents by more than $600 million when fully implemented.

Over the next four years, House Bill 1172 XX will lower the top income tax rate and phase in an increase of the Oklahoma Standard Deduction to the federal level – a provision that will mean 45,000 working Oklahoma families will never again have to pay state income tax. The tax package also includes an elimination of the estate tax over the next three years.
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Statement by Senate President Pro Tempore Mike Morgan

“Governor Henry’s signature of the budget and tax cut bills approved by the Legislature during last week’s special session is a victory for all Oklahomans. read more.

Statement by Senate President Pro Tempore Mike Morgan

“Under the direction of Chancellor Paul Risser, Oklahoma’s higher education system has been on the move.

“Chancellor Risser led the effort to create Governor Henry’s EDGE (Economic Development Generating Excellence) project, focusing Oklahoma’s economic development future on research and the high-tech industry.

“His vision to strengthen Oklahoma’s research capacities will make our state a key player in today’s growing global economy.

State Sen. Cal Hobson said he was pleased the Council for Bond Oversight had approved a request by the Oklahoma Turnpike Authority to refinance about half of its $1.2 billion debt. Hobson authored legislation during the 2006 session to authorize such a move. Hobson said the Council could not have taken that action without the passage of HB 2474.

A bill aimed at strengthening small businesses and upgrading the skills of Oklahoma’s workforce was rendered dead when Republicans in the House refused to allow an “up-or-down” vote on Senate Bill 2047. The author’s measure, Senator Debbe Leftwich, a Democrat from Oklahoma City, said the bill had the support of several pro-business establishments in the state, including the State Chamber of Commerce.

OKLAHOMA CITY – A Lawton Senator who is credited with authoring the strongest identity theft bill in the country said he is outraged the Republican Leadership in the House gutted his proposal to protect Oklahoma senior citizens from the devastation of identity theft. State Senator Randy Bass, a Democrat, said he plans to resurrect the language in Senate Bill 1748 that allows identity theft victims to freeze their credit at no cost to the victim.

Vowing to continue his effort to protect rural schools and communities, the author of a bill to permanently end forced school consolidation breathed new life into the measure last Wednesday.

Senator Jay Paul Gumm, D-Durant, successfully amended a House joint resolution to include his proposed constitutional amendment to end forced school consolidation. The proposal would allow voters to decide the issue instead of politicians or bureaucrats.

Members of the State Legislature are warming up for the annual bedlam baseball game between the Senate and the House. The amateur athletes will be slugging it out at the Bricktown Ballpark Tuesday, May 2, after session.

“Everyone is welcome to attend—there’s no charge, but we’re asking for a suggested donation of $5 at the gate to benefit the American Cancer Society,” said Sen. David “Coach Casey” Myers of Ponca City, head coach and manager of the Senate Redhots.