The head of a state House committee that’s scrutinizing millions of dollars in business tax credits is questioning the growth in credits used by insurance companies and whether the state should be reimbursing counties and schools for tax revenue lost when property owners take exemptions.
Rep. David Dank, R-Oklahoma City, took particular aim at the home office tax credit, which he said is granted to insurance companies based in the state that employ a certain number of workers. The home office tax credit grew from about $8.5 million in 2006 to almost $17 million in 2012, he said during a meeting of the House Tax Credits and Economic Incentive Oversight Committee.
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