by Richard Rush
The Journal Record - January 4, 2010
As we enter 2010, Oklahoma and our nation face challenges unprecedented in recent history. The State Chamber of Oklahoma’s 30 committees have analyzed the legislative year ahead, and our board of directors has adopted strong legislative goals for the upcoming session beginning February 1st.
Here are the key issues the business community of Oklahoma must face to remain competitive:
- Ad Valorem Tax on Intangible Property – The Oklahoma Supreme Court recently ruled that certain intangible business property could be taxed as income. The State Chamber will seek a legislative or constitutional solution to this dilemma, which could increase taxes on all Oklahoma businesses.
- Education – The State Chamber opposes State Question 744 on the November ballot that constitutionally mandates specific funding levels tied to other states’ economies. The result will be increased taxes or a stripping of revenue from other state agencies or both. Oklahoma’s tax base is not large enough to support this irresponsible public policy. Just say “No!”
- Eminent Domain – The State Chamber opposes any changes to Oklahoma statutes on eminent domain that would negatively impact economic development.
- Energy – Oil and gas will continue to be the nation’s primary energy resources for the foreseeable future, and The State Chamber supports the protection of exploration and production incentives for the state’s oil and natural gas industry and opposes any energy tax increase proposals.
- Erosion of Incentives – The State Chamber continues to oppose attempts to reduce or repeal necessary economic development incentives.
- Five-Year Ad Valorem Tax Exemption – The State Chamber opposes attempts to eliminate or weaken this important tax exemption. Concurrently, we need to find ways to solve the depletion of the Ad Valorem Reimbursement Fund.
- Health Care – The State Chamber opposes the creation of new government-run health coverage options that compete unfairly with the private sector.
- Oklahoma Center for the Advancement of Science and Technology – The State Chamber supports an increase in funding for OCAST and the continued focus on seed capital investment.
- Tax Increment Financing (TIF) – The State Chamber supports the use of TIFs as an economic development tool.
- Transportation Funding – The State Chamber supports upgrading and maintaining the state’s transportation infrastructure to include roads, bridges and our navigation and general aviation systems. The chamber opposes attempts to delay the transportation bond program passed in 2008.
- Water – The State Chamber opposes any significant changes in water law prior to completion of the Oklahoma Comprehensive Water Plan.
- Workers’ Compensation Reform – The State Chamber believes we need fundamental restructuring of our entire workers’ compensation system, and our advocacy team will work toward that goal.
As the legislative advocate for Oklahoma business, The State Chamber represents more than 2,000 Oklahoma companies and 400,000 employees. We’ve been the state’s leading advocate for business since 1926. Sound public policy is the foundation for a thriving economy that attracts investment, creation of good jobs and prosperity for Oklahoma citizens.
Please join us at www.okstatechamber.com and see our state’s Good News Report at www.okprosperity.com.
Richard P. Rush is president and CEO of The State Chamber of Oklahoma.
