|
The Legislature approved
a total of $5.2 million for appropriation to the Governor's Contingency
and Emergency Fund for assistance to disaster victims. More than 7,100
Oklahomans have requested state or federal disaster assistance after
the May 3 tornadoes, which killed 44 and injured 795. Sixteen counties
are included in the Federal Disaster Declaration for both individual
and public assistance: Caddo, Canadian, Craig, Cleveland, Creek, Grady,
Kingfisher, LeFlore, Lincoln, Logan, McClain, Noble, Oklahoma, Ottawa,
Pottawatomie and Tulsa counties. Of the total funds:
- $4.0 million was
appropriated from the Rainy Day Fund. (HB
1565)
- $1.2 million was
re-allocated from prior year appropriations to the
District Attorneys Council and the Indigent Defense
System for costs of prosecuting the Murrah Building
Bombing. (SB
173)
- $1 million in Rainy Day
funds was appropriated to the State Board of Vocational
and Technical Education for disaster relief training
programs. (HB
1565)
Lawmakers crafted much of
the relief to tornado victims by modifying tax laws:
- SB
1 allows a credit
against vehicle registration fees and excise taxes for
vehicles replacing those destroyed by the tornadoes. For
registration fees, the credit is in an amount based on
the remaining registration period. For excise taxes, the
credit is in the full amount of excise taxes paid for a
vehicle purchased in the year prior to May 3, 1999.
- SB
316 extends
deadlines for certain tax payments for vendors unable to
make payments due to the tornadoes. It also provides a
sales tax exemption for items withdrawn from inventory
for donations to tornado victims.
- In response to the
destruction of the retail base of the town of Stroud,
HB
1466 was passed
to provide five-year manufacturers ad valorem tax
exemptions for certain wholesale grocery distributors and
retail shopping centers. To claim the exemption,
facilities must be repaired or rebuilt by May 3, 2001,
and must employ at least 90% of the average level of
employees as in the year prior to the tornadoes.
- HB
1585 allows a
five-year, refundable income tax credit for increased
property taxes on residential property that is rebuilt
after being damaged or destroyed by the May 3 tornadoes.
The property must be the primary residence of the owner
both prior to and after the tornado and must be homestead
property.
|