OKLAHOMA CITY (AP) - Increased tax collections will give Oklahoma lawmakers about $47 million more to spend on the upcoming fiscal year - money that Gov. Mary Fallin says should be returned to Oklahomans in the form of a tax cut.
The State Board of Equalization on Tuesday certified $6.6 billion in revenue available for legislators to spend on the state budget for the fiscal year that begins July 1. That amount is about $47 million more than the board certified during its preliminary estimate in December.
State finance officials attribute much of the growth to an increase in tax collections.
The budget is about $168 million, or 2.6 percent, more than the Legislature spent last year.
Fallin says her plan to cut Oklahoma's income tax will be introduced in the Legislature next week.
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