Oklahoma Senate OKs Tax Credits for February Storm Victims

A bill introduced into the Oklahoma State Senate that provides tax credits for victims of the Feb. 10, 2009, storms that destroyed dozens of homes and businesses and caused multiple fatalities is now headed to the House of Representatives.

Sen. Todd Lamb, R-Edmond, and Sen. Johnnie Crutchfield, D-Ardmore, worked together for passage of the legislation. Eight people in Crutchfield’s district died in that storm, and many others were left homeless.

“This is something we did for victims of the 1999 May tornado and it’s something we wanted to do for the victims of last month’s storm as well,” Crutchfield said. Many of these individuals lost everything -their homes, their vehicles, even the papers they needed to file their taxes this year. Helping them get their lives back together just makes good sense. I want to thank Senator Lamb for including the victims of February’s storm in this legislation. ”

As originally introduced by Lamb, Senate Bill 481 contained a builder’s tax credit for specific energy efficiency construction that would apply to homes of any size, a provision that remains in the legislation. Lamb said the tax credits for the February 10 storm victims would help with the replacement of vehicles, as well as the repair or replacement of homes and businesses. The measure also gives storm victims who lost all their financial records more time to file their taxes.

“When a natural disaster like a tornado hits a community, people are impacted for a long time after the event has ceased making headlines,” Lamb said. “Our prayers remain with the families who lost loved ones and are struggling to rebuild their lives. It is during times like these that we can come together as Oklahomans to offer assistance to our fellow citizens.”

Source: Oklahoma Senate, www.lsb.state.ok.us/