Okla. lawmakers to have $47M more to spend

By: From Wire Reports
By: From Wire Reports

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.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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