Legislative Successes of First Senate Term 2005-2008
· SB1641 (2008) closes a loophole in the Oklahoma Public Employees Retirement System that costs taxpayers millions of dollars by allowing certain elected officials with previous government service to collect more money in retirement than they made in office.
· SB1943 (2008) provides financing for major destination development and stimulate tourism projects all across Oklahoma at no cost to the taxpayer.
· SB 2153 (2008) modifies various provisions relating to Oklahoma Quality Jobs Program Act to allow for two significant Tulsa companies to participate in the program which will help them stay in Tulsa and add another 100 high paying jobs. The legislation also clarified the timing aspects of incentives earned by the performance of EDS, one of our important local employers.
· HB3239 (2008) provides tax incentives to recruit engineering students for aerospace positions in Oklahoma’s important aerospace industry.
· SB357 (2007) establishes a long-term solution to bring fiscal stability to the Oklahoma Teachers Retirement System by raising employer contributions through the education budget. An annual infusion of an extra $60 million per year should help the woefully underfunded system improve from an unacceptable 50% funded level to an 80% level around the year 2026.
· SB861 (2007) provides tax relief to hard-working Oklahomans by (1) accelerating the state income tax reduction from 5.65% to 5.25% one year sooner; (2) establishes our first back-to-school sales tax holiday; (3) eliminates the franchise tax for most small businesses; and (4) provides a tax credit for families with children.
· SB407 (2007) allows the Grand River Dam Authority to enter into derivative products and financial instruments to manage interest rate costs in connection with issuing bonds. Also creates the Joint Legislative Task Force on the Grand River Dam Authority to study its functions, policies, procedures and expenditures.
· HB2070 (2007) adds the Firefighters, Police and Law Enforcement Retirement Systems to the requirements of the Oklahoma Pension Legislation Actuarial Analysis Act. This will ensure that legislation affecting these systems will have to go through the Senate process of comprehensive cost analysis and funding for any approved legislation.
· SB1771 (2006) creates the Oklahoma State University Medical Authority Act to ensure this hospital and medical teaching university stays in Tulsa for the long-term.
· SB1894 (2006) creates the Oklahoma Pension Legislation Actuarial Analysis Act, which requires all changes to the retirement system go through a two-year process in the legislature. An in-depth fiscal analysis must be performed on each proposed change once a bill has been introduced so that lawmakers have a true idea of how the retirement system will be enacted.
· SB1020 (2005) helps protect soldier’s families by creating the Oklahoma Funeral Picketing Act and provides for a specific time and distance protesters can use to picket at funerals.
· HB2538 (2005) streamlines the adoption process by allowing an easier process for terminating parental rights. This bill also defined conduct that constitutes the crime of child trafficking.
· SB407 (2005) modified the Small Employer Quality Jobs Incentive Act to make the job creation reward program more applicable to technology, research and bio-technology companies.
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