Oklahoma Bill Would Cap State HTC at $5 Million

Tuesday, January 24, 2017 - 10:45am

A bill to be introduced in the Oklahoma state Senate next month would set a $5 million cap on the state historic tax credit (HTC) beginning in 2018. SB556, which will be introduced Feb. 6 by state Sen. Joe Newhouse, would create a formula to determine a percentage that would be applied to HTC application amounts to keep annual total below the cap. Oklahoma has no HTC cap and in 2015, slightly more than $17 million in credits were claimed, according to a state report.