Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
   
   
   
   
   
   
   

Agricultural News


Oklahoma Law Makers Consider Tax Breaks for Doctors and Professionals Who Move to Rural Areas

Tue, 14 Feb 2017 14:27:02 CST

Oklahoma Law Makers Consider Tax Breaks for Doctors and Professionals Who Move to Rural Areas Two House bills intended to attract doctors and workers to sparsely populated areas of Oklahoma were endorsed in committees this week.


House Bill 2301 by Speaker Charles McCall, R-Atoka, would authorize a tax exemption on the first $25,000 of annual income earned by any “qualifying doctor” who moves to a rural area of Oklahoma. The exemption could be claimed so long as the doctor remained in that designated area, the bill indicates.


The bill defines a “rural area” to mean any town or unincorporated area that has fewer than 25,000 residents and is at least 25 miles from the nearest municipality that has a population that exceeds 25,000.


The bill also specifies that a “qualifying doctor” means a medical doctor or osteopathic physician who:


- is licensed to practice medicine in Oklahoma;


- was graduated from a medical institution of higher education in this state; and


- resides within the same county as the rural area where the compensation that qualifies for the tax exemption proposed by HB 2301 is earned.


HB 2301 cleared the Appropriations and Budget Committee in a bipartisan vote Monday, 21-5. Supporters included 17 Republicans and four Democrats, while the opponents numbered three Democrats and two Republicans.


House Bill 1156 - which would provide a five-year exemption from all state income taxes for anyone who moves from another state to any Oklahoma county with a declining population - passed the House Committee on Agriculture and Rural Development.


The bill stipulates that the move must be made to a county “which has been projected to have a decline in its population” between Jan. 1, 2018, and Dec. 31, 2075, as identified in” a publication issued by the Oklahoma Department of Commerce: the “2012 Demographic State of the State Report - Oklahoma State and County Population Projections Through 2075.”


Counties identified in the Commerce Department report included Alfalfa, Beaver, Blaine, Choctaw, Cimarron, Cotton, Craig, Dewey, Ellis, Grant, Greer, Harmon, Harper, Hughes, Jackson, Jefferson, Kay, Kiowa, Major, Nowata, Roger Mills, Seminole, Tillman, Washita and Woods.


HB 1156 received a “do pass” recommendation from the committee on a 16-1 vote Tuesday. The lone vote in opposition was cast by Rep. Brian Renegar, D-McAlester.


“How come this bill is in Ag” instead of the Appropriations and Budget Committee, Renegar asked.


“Because this is a rural development bill,” replied Rep. Scott Biggs, R-Chickasha, principal author of HB 1156.


In response to a question from Rep. Steve Kouplen, D-Beggs, Biggs said HB 1156 is identical to HB 2301 introduced two years ago by former Rep. Tom Newell, R-Seminole. HB 2301 “got hung up” in a House/Senate conference committee that was unable to agree on a compromise, Biggs related.


Biggs claimed that a Rural Opportunity Zones measure that Kansas Gov. Sam Brownback signed into law in 2011 “has been successful in attracting people” to rural areas of the Sunflower State. ROZs are 77 Kansas counties authorized to offer 100% state income-tax waivers for up to five years, and/or student loan repayments up to $15,000, to new full-time residents who have not lived in Kansas for at least the past five years.


After the committee meeting, Renegar said he opposed HB 1156 because, “I don’t believe people who are making $30,000 to $50,000 a year are going to move to an area of declining population just so they can save perhaps $2,500 a year on taxes. It costs a lot of money to pack up and move.”


HBs 2301 and 1156 will now be placed on the House calendar for floor votes.


Source - Oklahoma House of Representatives




   

 

WebReadyTM Powered by WireReady® NSI

 


Top Agricultural News

  • Grain Economist Kim Anderson Says Prices are on the Move and Summer Crops are in the Spotlight  Thu, 21 Jun 2018 17:38:42 CDT
  • OSU's Derrell Peel Says Cattle Markets in the First Half of 2018 Have Been "So Far, So Good..."  Thu, 21 Jun 2018 17:05:10 CDT
  • Southeast Oklahoma Continues to Dry Out as State Braces for Hotter Than Normal Temperatures  Thu, 21 Jun 2018 16:40:04 CDT
  • Cattle Producer Brett Carter Explains How to Give Calves Added Opportunity for Growth with VitaFerm  Thu, 21 Jun 2018 16:18:52 CDT
  • US House of Representatives Pass Farm Bill to Agriculture Industry's Delight in Tight 213 - 211 Vote  Thu, 21 Jun 2018 16:13:11 CDT
  • Oklahoma Grain Elevator Cash Bids as of 2:00 p.m. Thursday, June 21, 2018  Thu, 21 Jun 2018 15:54:37 CDT
  • Thursday Market Wrap-Up with Justin Lewis  Thu, 21 Jun 2018 15:52:10 CDT
  • American Farm Bureau Federation’s Board of Directors Support House passage of H.R. 4760 on Strength of Ag Labor Provisions  Thu, 21 Jun 2018 12:56:11 CDT

  • More Headlines...

       

    Ron salutes our daily email sponsors!

    Livestock Exchange Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit P&K Equipment Tulsa Farm Show Stillwater Milling American Farmers & Ranchers KIS FUTURES, INC. Oklahoma Cattlemen's Association

    Search OklahomaFarmReport.com

    Find more about Weather in Oklahoma City, OK

       
       
    © 2008-2018 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.