Oklahoma State Home Builders Association

An Affiliate of the National Home Builders Association

Legislature has less to spend than originally estimated

 
Posted on February 24, 2014 by Mike Means

Last week saw one of the first legislative deadlines. Bills that were single-assigned to committees in the Senate had to be heard or they were dead for the session. This week will see the deadline for bills in the House or double-assigned in the Senate. The weekly tracking list will begin to get shorter.

Our HOA bill made it through committee and is still awaiting action by the full House of Representatives. I anticipate that action will happen this week. Thank you to all who responded to the Action Alert recently.

It will be interesting to see how budget and tax issues begin to shape up as the Board of Equalization lowered the amount the Legislature will be able to spend in their report this week. Seems the Legislature will have about $188 million less than was budgeted last year. That figure is about $17 million less than originally estimated.

However, the tax credit bills that affected the Energy Efficient Tax Credits are dead. But because the bill is dead it doesn't mean the language is dead. Vigilance is still required. In fact, as a former legislator told me last week - "when I die, I want to die on the floor of the State Senate, because nothing ever really dies there." That gives you an idea of what I am talking about.

 

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